Cyclos: Providing The Most Innovative E-Payment Solutions Across The Globe


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The emergence of information technology has radically changed the basic concepts of human life and their businesses. Digitization has been largely responsible for restructuring the entire banking system. Due to the effects of technology, new markets, the latest products, rapid services and efficient delivery channels in the banking industry have now become easily accessible to the common man. Electronic transactions are the modern methods of handling business deals and mergers. E-banking, and mobile apps based banking technology has simplified the day to day lives of individuals.

Cyclos is a high performance payment software designed to provide a mobile wallet against the lowest price. Cyclos is produced by a nonprofit organization, the Social Trade Organization (STRO) which has offices in The Netherlands, Brazil and Uruguay. Started 20 years ago, the banking software is based on many innovations tested in STRO’s R&D program. STRO’s mission is to enable local/regional economies to flourish in a sustainable way. Unlike the Bitcoin, where the technology is the starting point and the monetary use is untested and random, Cyclos starts from the market, dealing with transactions that require more effective and inclusive money.

In the late 1980s, the official members behind Cyclos had anticipated that advancements in IT would change the very nature of money. In order to test this theory, an intensive R&D program was started based on non- digital experiments. Later, on the basis of these results, the payment solutions were designed and developed. Recently, Cyclos has been labeled as the most innovative payment technology by payment industry. The main reason behind the success of the banking software is the balanced price-quality relation, plus numerous options responsible for providing specific needs of the markets, thereby making Cyclos, a major hit in its home turf.

Modern Day Innovator & Thinker

Henk van Arkel is the Founder of Cyclos. Van Arkel started the IT company, with the aim to develop simple and cost effective softwares that would make banking easy. He saw many opportunities to outsmart existing systems, in turn developing a payment software that was cheaper and more effective. Initially, the banking software was developed on the premise that it would only last for a few years. Since van Arkel expected that the needs of the market and the developing technology would keep on changing, STRO decided to structure Cyclos from the start ready to migrate to newer versions that could be renewed on every front.

Henk van Arkel advises the young minds to focus on the current requirements of the market and only then find innovative ways the newest technologies could serve these . He adds that, there is still room for new teams of experts to offer innovative solutions and services for latest products and flourishing business sectors.

Facts & Figures

  • The banking software had >10 million users in 2016 and >20 million in 2017.
  • Cyclos has won the ETA’s e-pay innovation award winner in 2014.
  • A special prize was bestowed by the Bill Gates Foundation.
  • The payment software was selected by the Insightssuccess as one of the top ten innovators.

Attributes & Special Features

Cyclos delivers the following characteristic features

  • It is a secure and scalable payment software.
  • Additional special functionalities to stimulat regional trade and development.
  • It is a highly customizable software.
  • Operated on a secure and open interface.
  • Offers business & community features.

List of Cyclos Target Customers

Cyclos has always focused on creating the most updated, high quality and affordable softwares. It also provides solutions to market with poor technology backgrounds by facilitating SMS- and USSD payments. Below mentioned is the list of its target customers.

  • Barter Networks, Trade Exchanges & Commercial Credit Circuits: The dynamic group and accounting structure of Cyclos allows the above companies to offer specific permissions, accounts, currencies and content, according to the customer requirements.
  • Banks & MFIs: The online banking software is used by banks as a payment platform to offer their customers mobile banking and options to roll out branchless with banking at low costs, using online platforms, SMS, IVR, USSD banking and associated mobile apps.
  • Local and Regional Governments: The latest version of the payment software, Cyclos4Pro,allows regional and local authorities to increase the impact of their expenditures to stimulate their economies.
  • Innovative currencies: Cyclos is used by hundreds experimental currencies, ranging from social currencies such as time banks, LETS, community currencies to high tech solutions. It is also suitable for campus card system.

Unique Financial Solutions by Cyclos

Cyclos offers the cheapest high-quality solution for FIN-Tech starters, used by new initiators in South East Asia and Africa. There is absolutely no doubt, that the number of users will keep on doubling over the coming years and will reach the pinnacle of 100 million users very soon.

Future Hurdles & Strategies

The team and officials behind the e-payment software expect to grow up to hundreds of millions of Cyclos users, based on its core technology. A next step for the development of the company is to inform existing Cyclos clients about the showcases of the additional innovative functionalities. In this way, the clients will start contributing towards stronger regional and more sustainable economies.

The banking software developers are planning to create showcases using the features of the softwares that can enable migrant workers to increase the impact of the transfers to their families. This will hit many billion euro of turnover within the coming years.

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