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Visa and KOTRA Launch World’s First Card Payment Platform for Trade Settlements in South Korea

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Platform enhances security and cash flow management for businesses compared to traditional remittance methodsJapan, Taiwan, Singapore, the United States, and Mexico are the first five markets in initial launch

SINGAPORE, Sept. 11, 2024 /PRNewswire/ — Visa, a global leader in digital payments, has partnered with the Korea Trade-Investment Promotion Agency (KOTRA) to launch the Global Trade Payment Platform (GTPP), the first platform for trade payments by card globally. GTTP is scheduled to be live at the end of October.

In the initial launch, GTPP will support payments from Japan, Taiwan, Singapore, the United States, and Mexico – these markets are in the top 10 of South Korea’s trade partners in 2024.[1] The service is planned to extend to the top 20 countries with the highest export volumes among KOTRA’s member companies within the next three years.

GTPP is a digital platform that enables both domestic small and medium-sized businesses (SMBs) and overseas buyers to register as members to send and receive payments. The platform addresses the payment challenges faced by domestic companies, particularly SMBs, in processing export payments. For overseas buyers, the platform provides the advantage of making trade payments easily and conveniently by simply entering their card number. The platform is also available by mobile for added convenience.

“Visa is committed to facilitating seamless, convenient and secure business transactions through our global network. This platform launch is particularly meaningful given the high growth potential in Korea’s B2B payment market,” remarked Chavi Jafa, Head of Visa Commercial and Money Movement Solutions, Asia Pacific. “Small and medium businesses are the backbone of the economy, and through our partnership with KOTRA and GTTP’s payment experience, we look forward to accelerating SMB growth in the region,” she added.

GTPP is expected to improve cash flow for Korean exporters by shortening the payment receipt period. Payment costs on GTTP are lower than standard card payment fees and are designed to be shared between domestic exporters and overseas buyers, reducing the financial burden on both parties. Additionally, the platform incorporates various verification steps during the card issuance process, offering greater fraud prevention compared to traditional methods.

According to the “2023 Export Payment Settlement Trends Report” published by the Korea Trade Insurance Corporation (K-SURE), the average export payment settlement period for domestic SMBs is 68 days with a delinquency rate of 30.2%.

[1] Trade Statistics, Korea Customs Service. Data retrieved as of 2 September 2024. https://tradedata.go.kr/cts/index_eng.do

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SOURCE Visa Worldwide Pte. Ltd

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HevenDrones Partners with SMARTSHOOTER for Drone Defense

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New partnership addresses mission-critical demand for counter-drone technology amid escalating global conflicts

MIAMI, Jan. 15, 2025 /PRNewswire/ — HevenDrones (Heven), the market leader in hydrogen-powered drones, announced today a partnership with SMARTSHOOTER, a global innovator in fire control systems that significantly increase hit probability against static and moving ground and aerial targets.

The collaboration integrates SMARTSHOOTER’s SMASH Dragon platform with Heven’s H100 and Urban drone platforms, enabling precision targeting and engagement of both ground and aerial threats.

“As drone conflicts escalate, we know that counter-drone technology will prove critical to the evolving needs of the armed forces,” said Bentzion Levinson, CEO of Heven. “By integrating our drones with SMARTSHOOTER’s fire control systems, we aim to address customer demand for the future needs of remotely-controlled warfare.”

SMASH Dragon is an advanced robotic weapon payload that can be mounted on various drones and unmanned aerial platforms. Leveraging SMARTSHOOTER’s SMASH proprietary fire control and target acquisition algorithms, along with ballistic-calculated shot release, the system directs the weapon and accurately times the shot to achieve a precise hit. The system is uniquely designed to lock, track, and engage unknown targets in unpredictable environments, whether static or dynamic, day or night, unaffected by target movements or human errors such as fatigue and stress.

Staying at the forefront of military technology innovation, SMASH’s proven track record includes recent successful deployments and significant contracts to supply the SMASH 3000 system to NATO Countries for counter-drone operations and equipping the British Army with SMASH systems for counter-unmanned aerial system (C-UAS) capabilities.

About HevenDrones

HevenDrones was founded in 2019 with a clear vision: To unlock the immense potential of the drone economy. Heven’s hydrogen-powered, runway-independent drones are designed with endurance and adaptability in mind. Built for the most complex missions, Heven’s drones operate anywhere—efficiently, quietly, and reliably— providing the warfighter with the technology to get the job done.

About SMARTSHOOTER

Founded in 2011, SMARTSHOOTER is an Israeli-based company that has developed world-leading fire control systems to enhance the accuracy and effectiveness of small arms. Their SMASH product line, which includes the SMASH Dragon, utilizes artificial intelligence, computer vision, and advanced algorithms to enable precise targeting of both ground and aerial threats, including drones. Headquartered in Yagur, Israel, SMARTSHOOTER also operates subsidiaries in the U.S. (Maryland), Europe (Germany), and Australia, serving a diverse array of global clients such as the Israel Defense Forces, U.S. Army, British Army, and other NATO member forces.

View original content:https://www.prnewswire.com/news-releases/hevendrones-partners-with-smartshooter-for-drone-defense-302352140.html

SOURCE Heven Drones

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HevenDrones Partners with SMARTSHOOTER for Drone Defense

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New partnership addresses mission-critical demand for counter-drone technology amid escalating global conflicts

MIAMI, Jan. 15, 2025 /PRNewswire/ — HevenDrones (Heven), the market leader in hydrogen-powered drones, announced today a partnership with SMARTSHOOTER, a global innovator in fire control systems that significantly increase hit probability against static and moving ground and aerial targets.

The collaboration integrates SMARTSHOOTER’s SMASH Dragon platform with Heven’s H100 and Urban drone platforms, enabling precision targeting and engagement of both ground and aerial threats.

“As drone conflicts escalate, we know that counter-drone technology will prove critical to the evolving needs of the armed forces,” said Bentzion Levinson, CEO of Heven. “By integrating our drones with SMARTSHOOTER’s fire control systems, we aim to address customer demand for the future needs of remotely-controlled warfare.”

SMASH Dragon is an advanced robotic weapon payload that can be mounted on various drones and unmanned aerial platforms. Leveraging SMARTSHOOTER’s SMASH proprietary fire control and target acquisition algorithms, along with ballistic-calculated shot release, the system directs the weapon and accurately times the shot to achieve a precise hit. The system is uniquely designed to lock, track, and engage unknown targets in unpredictable environments, whether static or dynamic, day or night, unaffected by target movements or human errors such as fatigue and stress.

Staying at the forefront of military technology innovation, SMASH’s proven track record includes recent successful deployments and significant contracts to supply the SMASH 3000 system to NATO Countries for counter-drone operations and equipping the British Army with SMASH systems for counter-unmanned aerial system (C-UAS) capabilities.

About HevenDrones

HevenDrones was founded in 2019 with a clear vision: To unlock the immense potential of the drone economy. Heven’s hydrogen-powered, runway-independent drones are designed with endurance and adaptability in mind. Built for the most complex missions, Heven’s drones operate anywhere—efficiently, quietly, and reliably— providing the warfighter with the technology to get the job done.

About SMARTSHOOTER

Founded in 2011, SMARTSHOOTER is an Israeli-based company that has developed world-leading fire control systems to enhance the accuracy and effectiveness of small arms. Their SMASH product line, which includes the SMASH Dragon, utilizes artificial intelligence, computer vision, and advanced algorithms to enable precise targeting of both ground and aerial threats, including drones. Headquartered in Yagur, Israel, SMARTSHOOTER also operates subsidiaries in the U.S. (Maryland), Europe (Germany), and Australia, serving a diverse array of global clients such as the Israel Defense Forces, U.S. Army, British Army, and other NATO member forces.

View original content:https://www.prnewswire.com/news-releases/hevendrones-partners-with-smartshooter-for-drone-defense-302352140.html

SOURCE Heven Drones

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Extinguishing Wildfires with Light at Meta Photonix

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SAN FRANCISCO, Jan. 15, 2025 /PRNewswire/ — MetaPhotonix Inc. (MPI), a Silicon Valley startup, is developing a revolutionary method to extinguish large-scale wildfires using nothing but light – eliminating water! The innovative technology also aims to significantly reduce the need for aircraft, and firefighters, enabling fires to be extinguished by AI remotely at the speed of light.

In 2024, MPI achieved a small yet groundbreaking milestone, by remotely extinguishing a tiny flame, equivalent to the size of a candle, using only light. While small in scale compared to actual wildfires, this experiment serves as a vital proof-of-concept, paving the way for a future where wildfires can be managed quickly and cost-effectively.

“It’s like the first transistor—early stage, but with transformative potential,” said CEO, Dr. Leo DiDomenico, a former NASA Jet Propulsion Laboratory scientist.

MPI’s technology, known as photopyrokinesis, leverages “structured light” from lasers and millimeter-wave sources. These initially low-intensity beams traverse the atmosphere where they would get focused to high-intensity at the disaster area to suppress wildfires without water, chemicals, or close-range human intervention.

This innovation could save the U.S. up to $1 trillion annually in wildfire-related costs, an amount rivaling the nation’s military budget, while addressing up to 20% of global CO₂ emissions.

Using precise light beams, MPI’s technology can potentially even target fires near buildings, offering a critical tool for protecting lives and property. Therefore, this approach is a potential game-changer for the insurance industry, allowing them to keep insuring homes, by reducing claims from wildfires. Each community might someday have its own quick-acting AI fire sentry protecting lives and homes – making fire insurance viable again.

Photopyrokinesis works by directing beams of structured light to fire zones to manipulate the electronic structure of the atmosphere and create localized shockwaves that deny oxygen to the fire. This process provides millions of tiny, controlled explosions each second, extinguishing flames rapidly and efficiently. It is like using dynamite to put out an oil well fire, but much more controlled and targeted.

The structured light’s unique properties allow it to even propagate on curved trajectories, like water from a hose, enabling precise targeting of the fire even in extreme wind conditions like Santa Ana winds.

Founded in 2022 by Dr. DiDomenico, MetaPhotonix Inc. is advancing in the XPRIZE Wildfire competition, but needs visionary investors to help scale this technology and protect lives, ecosystems, and economies from the devastating effects of wildfires.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/extinguishing-wildfires-with-light-at-meta-photonix-302351269.html

SOURCE MetaPhotonix Inc

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