Meet Niv Abramovich, COTI’s VP of product

Today we will get to know Niv and discuss everything related to payments, his role at COTI, upcoming partnerships and much more.

Published in

COTI

4 min readSep 25, 2019

Before joining COTI, I founded three startups, one of which was acquired by a leading fintech company. For the past ten years, overall, I have been working in a number of payment verticals for both B2B and B2C clients. On the merchant side, I worked with companies like eToro, where I managed the entire B2C operations, including payments, risk, and compliance. On the payment service provider (PSP) side, I worked with companies like SafeCharge and Pay.com in various roles, including product and project management, business development and more.

The online payments industry is my passion because it’s one of the biggest markets that’s constantly growing and on-the-go. This is actually what attracted me to COTI after working with and advising a number of blockchain companies for approximately three years. I believe that digitalization is the future of online payments. If you take a look at other industries, you will see the amazing evolution they have gone through. Let’s take the music industry, for example. We have evolved from listening to records using phonographs to getting tunes directly on our smartphones. Instead of waiting for days and weeks to get letters in the post, we now get emails directly to our phone or laptop.

The payment industry, though, is still based on cash and coins — and it’s slow and expensive.
Now is the time to take payments to the next level, and we’re already seeing industry giants step up to the plate. Facebook has created its own digital coin Libra, Alipay is looking into crypto-based remittances and Whole Foods Market and Crate & Barrel are exploring crypto POS checkouts. I’m proud to say that at COTI we’re building technology that will fuel this change and make it as successful as possible.

I’m seeing this first hand in my role at COTI, which entails signing on new businesses and partnerships. We have great technology and need to generate awareness and put in the hands of the right people. We’re always fine-tuning our product offerings along the way according to client and community feedback to make it the best and every bit as functional for real-world use.

One of the most recent products I had the chance to work on is the universal payment gateway, which makes it so that our payment technology is interoperable with many payment networks.

Supporting our MainNet token is great, but limiting, when we want to offer it to enterprises that are looking to build their own payment networks. We want to enable our clients to accept as many protocols and traditional payment methods as possible in order to enhance their revenues, conversion, and liquidity.

To date, we have processed over $10M from a few merchants using COTI’s technology as part of their payment solution. We’re looking to amplify these results with more merchants that we’ll be onboarding in the upcoming months. As for other business developments, we opened an office in Seoul, Korea and continuously travel to the region for tech meetups and conferences. The real fun happens after the events because we’re always meeting amazing businesses that would like to work with COTI. We recently signed with FNB in Korea and are in talks with other large-scale corporations in the area. Besides this, we partner with other crypto projects like ChainLink, Fantom and more.

Going forward, I see the biggest challenge lying in making crypto available for everyday, novice users. Many people see blockchain as something complicated and intangible, but we believe the opposite. We can make it every bit as simple and quick, just like credit cards and traditional payments. If anyone can do it, it’s definitely COTI. It’s been amazing to put our product in the market and see it pick up pace and continue to shoot forward and stake its marks.

Niv Abramovich was covered by TheNews Asia, a prominent fintech, blockchain, and cryptocurrency news media platform.