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Meet @Pay, The First BNPL Platform Integrating Blockchain Technology and Crypto

Cryptocurrency Nov 09, 2021 09:30AM ET
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Meet @Pay, The First BNPL Platform Integrating Blockchain Technology and Crypto

  • @Pay gives a whole new use-case for blockchain technology.
  • It is the first BNPL decentralized platform that ensures buying power for consumers despite their status.
  • @Pay offers security, transparency and rewards for timely repayments.

In an ever-developing world, technicians and vision-orientated people only seek to solve issues that can make the world habitable and stress free for its occupants. Therefore, as the day goes by, more problems are resolved with technology and of course, the fast growing blockchain ecosystem.

To create a seamless form of purchasing our needs without having to go through the hassle of saving for long to get the barest minimum, the credit card system came into play. This was to develop a means where consumers can use money upfront and pay later.

However, the high interest rates makes it almost impossible for average shoppers to access these credit cards. Alongside, the entry barrier is relatively much with most banks offering cards to just their established customers. To this end, the buy-now-pay-later products and services (BNPL) emerged as a byproduct of fintech. Remarkably, a DeFi-based e-commerce platform @Pay is here with a whole new scope to this new credit product.

@Pay Integrates Blockchain Into BNPL

Most noteworthy, @Pay is an innovative DeFi BNPL payment solution for consumers across all spheres which includes online and offline marketplaces, shoppers, and retailers.

This innovation comes right in time when blockchain technology and cryptocurrencies are just coming into the limelight and when a large percentage of people are seemingly interested in anything crypto tech. Truly, @Pay effectively blurs the gap between traditional and decentralized finance by ensuring buying power for consumers irrespective of their status.

@Pay: Bridging the Gap Between Traditional and Decentralized Finance

Using blockchain technology and smart contracts, the protocol offers instantaneous buying power to its users in a decentralized manner. This means that there is no need for third-party payment processors, hidden charges, or late-payment fees. Rather, there is trust, security, transparency, and rewards for timely repayment. In Particular, the credit limit starts at $250 and users can make direct purchases from e-commerce stores and repay the credit within three months without no interest. To repay loyalty, users who repay their BNPL credit loans fast get @Pay tokens as rewards. The token can also be used as a form of payment on partner merchant websites.

Presently, @Pay tokens are the native tokens of the platform. That means, holding them has a variety of benefits. To clarify, users can use these tokens to upgrade their payment limit and to part-take in platform governance. This implies that the more tokens users hold, the more can be their credit limit.

Furthermore, to ensure security and facilitate easy crypto-fiat conversions whenever required, @Pay integrates Chainlink’s Oracle (NYSE:ORCL) Network into its operations. Similarly, the crypto-fiat conversion feature allows various kinds of merchants to integrate @Pay into their payment system. In summary, @Pay aims to be the go-to-payment solution for innovative BNPL services as the industry is set to boom in the future.

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Meet @Pay, The First BNPL Platform Integrating Blockchain Technology and Crypto
 

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