‘You’re sitting comfortably on your sofa, scrolling down the internet, and zipping your morning coffee. What a relaxing Saturday you’re thinking, and at the same time, you remember that your friend recommended one good book for reading. Feeling grateful, as you don’t need to run around the shopping center to find your book, you start to google search for the best e-book options. After half an hour’s search, you’re disappointed, as every e-book platform offering the book requires registration and a monthly subscription. Feeling disappointed about paying almost a price of a hardcover book for reading one e-book, you’re putting down your pad. If there only was a way to ‘Pay Per Use™’.
Blockchain technology is the key to the micropayment issue
Various researchers and merchants have been trying to solve issues in the micropayment industry for decades and find a sustainable solution to execute smaller payments. Current traditional payment service providers have not succeeded in bringing a service, which would enable very small, only a couple of cents transactions. As transaction fees have remained significant, this issue has remained.
The Crypto payment industry is relatively new but developing at a fast pace. Blockchain technology brings change in making payments, enabling instant, secure, and low-cost transactions. This technology offers a solution where it’s possible to build a functioning micropayment system and replace current methods.
Retailers require payment systems that are user-friendly, secure, and cheap
Interest in crypto payments is increasing rapidly, but people are also fearful of using or transferring their assets into new applications. However, blockchain technology has various benefits over traditional methods, bringing transparency, making payments with low fees, keeping user information safe in a decentralized system, and a variety of possibilities for evolvement and development.
Currently, customers cannot buy a part or portion of a product or a service with the available payment solutions. High transaction costs have followed retailers and been a barrier to creating the specific type of business models. Therefore, micropayments are becoming an attractive alternative to inflexible advertising and subscription walls. Nevertheless, so far, the minimum transaction amount has remained high.
Fyfy is transforming the payment industry
We at Fyfy are transforming the payment system, offering a payment solution, which enables instant and cheap transactions. The Fyfy Team builds a brand of trust, where user-friendly services and strong customer support play an essential role. Fyfy has a bold vision that blockchain technology will grow exponentially, and eventually, the whole world uses this transforming technology in their everyday transactions. At the core of achieving this goal is a functional ecosystem and Fyfy Pay.
Fyfy Pay is an interoperable web plugin, extension, or software module that allows instant, safe, and low-cost transfers between Fyfy Wallets or other cryptocurrency wallets. The use of the application must be so easy, that everyone can use it with low effort. The core idea behind this innovation is that retailers are only buying what they need and not paying for expensive subscription models.
To achieve our goal, both retailers and merchants must start using the service. We’re actively negotiating new partnerships and building a solid network with carefully chosen online merchants and other corporations. Furthermore, we are creating different strategies, how to market Fyfy Pay attractive for its users, and gain wider adoption. We will be making announcements about our Partnerships along the way through our social media channels.
Simple and easy services will win the markets
Retailers are required to register their personal information in different places and continuously dispose of their sensitive information into new platforms. They prefer everything to be easy and possible with one solution, where everything from making payments to asset management is secure and in one place.
For retailers, a purchase is a success when both the transaction and the order are completed. From the seller’s perspective, the sale is successful when the seller gets its money and can keep it without any reclamation. In between, the Fyfy Pay functions as a tool that enables this event and has features supporting the completion of transactions with success.
Fyfy is transforming the micropayment industry, offering a bullet-proof solution and making the payment experience smooth and straightforward. We’re designing a solution, which is so easy to use that only minimal effort is required. The process from user information to the finished transaction needs to be fully automated and finished with only one or two clicks to achieve this goal.
Building a trustworthy payment system requires lots of development and making tough decisions. As everything around us changes all the time, we need to understand the current situation in the markets and estimate the future to reach our goal.
Through our journey, we want to keep things as transparent as possible. Our community is updated about any significant changes we need to make building a solid and sustainable ecosystem. Stay tuned for updates about our coming Pre-ICO!
Jenna / Fyfy.io