Spotcoin Close-up: Introducing Spotpay
Making digital currency payments work for everyone
That important question brings us to Spotcoin’s final business line: Spotpay. In our Close-up series, we’ve reviewed our OTC business line, our mining operation, and our digital exchange with our Spotcore engine. As a finale, we want to share a bit of insight into Spotcoin’s very own webshop and retail payment concept. As part of our mission to makedigital currencies work for everyone, Spotcoin wants business transactions to become easy, integrated, and open to everyone.
What is Spotpay?
Spotpay is a merchant payment system built on a customizable digital asset payment API. Digital wallets provide consumers with fast, low-cost, and secure point of sale (POS) transactions, and merchants the freedom to select the payment structures that fit their unique needs.
Spotpay will integrate directly with Spotcore, giving users a one-stop-shop. Gone are the days of switching currencies from wallets to exchanges and back, in order to pay with the desired currency and balance. Spotpay digital wallets will integrate with Spotcore to provide instantaneous payouts at the current market price.
Where can you use it?
At Spotcoin, we envision a world where digital currency payments are just as integrated and accepted as a bank transfer or credit card payment. Spotpay opens the door, a simple widget that opens access to business worldwide.
Spotpay will provide a secure POS solution for brick and mortar retail establishments as well as an easy to use, drop-in payment widget for all major shopping cart platforms. Support will be provided in the form of open source API libraries in the following languages: PHP, Ruby, Python, Java, .NET, and NodeJS.
What currencies are supported?
In our digital exchange close-up, we reviewed the regional and standard fiat currencies as well as digital currencies supported in our exchange. These same currencies will be available for payments via Spotpay. Those include: Georgian Lari (GEL), Ukrainian Hryvnia (UAH), Romanian Lei (RON), Moldovan Leu (MDL), Russian Rubles (RUB), Bulgarian Leva (BGN), Turkish Lira (TRY), Armenian Dram (AMD) and international standard currencies Euros (EUR) and US Dollars (USD). All currencies will be paired with four core digital currencies: GAS (GAS), Ethereum (ETH), Bitcoin (BTC) and SIBCoin (SIB), with other digital currencies potentially supportable as we scale and grow.
Both consumers and merchants will have the capability to indicate their preferred fiat currencies and digital currencies, and the ratio in which they wish to spend or receive them. Spotcoin’s Spotcore technology and digital asset exchange will do the math and provide an instantaneous exchange and payout in the merchant’s desired allocation. Transactions occur at the current market price, ensuring each party receives the best exchange rate on the market.
The sheer amount of currency combinations means everyone has an avenue of participation. And even better, all fees will be clearly displayed to the buyer and the seller; no unpleasant surprises.
When will it be live?
Spotpay integrates with the exchange, the mining, and the OTC. As detailed in our Whitepaper, Spotcoin is targeting a complete Spotpay launch by early 2020, the final puzzle piece that unlocks the smart economy for everyone.
As a SPOT token holder, will this bring me dividends?
Yes! Our SPOT dividend token provides 51% of exchange fees from our digital exchange as weekly dividends, as well as quarterly dividends of 12% of the net profits across all other Spotcoin business lines. And we do mean ALL business lines. This includes our Spotpay merchant payment system. The quarterly dividend will start the first profitable quarter and continue moving forward. Maybe you can use some of those dividend payments to get something shiny and new through Spotpay. How’s that for providing simple liquidity to the world?
If you are interested in learning more about the exchange, or our other business lines: Check out our Whitepaper.
Interested in more Spotcoin?
Take a look at our complete ICO offering here.
Read our Whitepaper here, for more details.
Visit spotcoin.com, where we make digital currencies work for everyone.
Residents and citizens of the United States and US territories are prohibited from taking part in the SPOT Airdrop and the SPOT public sales. Residents and citizens of the following countries are prohibited from taking part in the SPOT public sales: Bosnia and Herzegovina, China, Ethiopia, Iran, Iraq, North Korea, South Korea, Sudan, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Serbia, Vanuatu, Yemen
However, certified accredited U.S. investors can take part in the SPOT private sale. Chinese and South Korean investors can participate in the private sale when paying with digital currencies, after signing the SAFT form and completing the KYC /AML process. Any investment in digital currencies comes at a risk. No one should invest money that he or she can not afford to lose.
Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained in this email are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.