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TAIPEI, Jan. 12, 2021 /PRNewswire/ BiiLabs, a Taiwan-based startup, is using blockchain technologies to develop BlaPay, a novel solution for merchants to lower transaction fees, aggregate all payment services and ensure financial authorities to monitor without leaking trade secrets. Although one of the major bottlenecks for blockchain is to comply with the regulations, BlaPay can easily meet the requirements by introducing centralized account management. With globally-accessible blockchain networks, BlaPay is becoming a potential option for enterprises. Everyday more than 1 billion credit card transactions occur all over the world and the existing issues include delayed payment for merchants, multiple but incompatible payment gateways and high transaction costs, said Lman Chu, BiiLabs CEO. We learn from our clients and previous projects to adopt a two-layer design to our payment solution and strike a balance between user privacy and re