Fast paced payment solutions across the borders will now be possible thanks to the creative ingenuity of Lightspark, a new-age cross-border payment company.

The firm which hosted its Developer Day in Lagos on Friday, at the Zone Tech Park, witnessed participation from a wide array of professionals ranging from developers, payment experts, crypto enthusiasts, brand influencers, celebrities and members of the media.

In his opening remark, Co-founder and CTO of Lightspark, Kevin Hurley noted that Lightspark began two and half years ago with the sole purpose of modernising money.

The company set out to achieve this by becoming an open network for payments which enables bank accounts to interact with other bank accounts around the world without the hassles of traditional banking systems.

So far, they have been able to convince 200 million people around the world and convert them into users.

The company intended to achieve it through products revolving around two cutting-edge technologies; Lightning and the Universal Money Address (UMA), a technology that allows bank accounts to send emails to each other with lightning speed.

“It is really like a human-readable identifier which allows me to send money to anyone in the world with my native currency and they can receive it in their native currency. It globally connects bank accounts, in instant payments and very low fees, much lower than you will find anywhere else.

“So I could send to someone in Kenya and they would receive it in Kenyan shillings immediately. It breaks down the borders that exist between money right now by creating this global operability layer where you have this instant settlement in open protocol anyone can join,” he said.

Expatiating, the VP of Product at Lightspark, Nicolas Cabrera said the open source technology is the formation which the company is leveraging for its instant settlement service.