With the new wave of digital currencies that has taken hold, countless payment companies have emerged to offer their products and services to the public. From online payment solutions and digital wallets to virtual debit cards, loans and investments, we break down the major differences between the online payment systems available today.

COTI

COTI is a payments transaction network that combines the best of traditional payment methods with the best of digital currencies. Based on blockchain technology, all transactions are guaranteed by cryptographic proof rather than trusted third-party intermediaries. Because blockchains are impenetrable, payments using this underlying technology are safeguarded against cyber crime.

The platform enables users to make purchases and transfers instantaneously at zero to low fees. COTI is supported by a native digital currency that serves as the common denominator among all other currencies. COTI’s currency functions as a means of paying for fees and of incentivizing mediators, and can also be used as a medium of exchange in day-to-day payments.

The currency exchange is an enabler of cross-currency payments by providing network participants with a mechanism for paying or receiving funds in whichever currencies they choose.

What really sets COTI apart from the rest is its decentralized mediation system that provides buyer-seller protections in the event of billing errors, unauthorized charges, or undelivered goods or services. COTI's Trust Scoring engine takes it one step further by rewarding highly-trusted users with low-to-zero fees and levying higher fees on users with a higher risk profile.

To connect the COTI network with other payments rails, COTI will be offering users access to virtual debit cards that link directly to COTI wallets. These virtual debit cards will be one-time cards that can be used only once before being discarded. The rationale for offering these cards is that they will enable users to make payments from their COTI wallets when transacting with merchants that have not yet integrated with COTI.

COTI’s upcoming Token Generation Event (TGE) is soon approaching. Details of the token sale will be released in early 2018, so be sure to stay updated with the latest developments on our Telegram.

PayPal

Founded in 1998, PayPal was one of the first online payments companies to offer consumers and merchants the option to transact online without having to share their financial information. While users can hold balances in PayPal to pay for goods and services, the platform only accepts fiat currencies. Transactions are also processed and secured using encryption through trusted third party intermediaries as opposed to a blockchain-based system. Other features include currency conversions and buyer protections in the event of transaction disputes. PayPal Credit provides financing options for users that would like to make monthly payments on purchases, or for business owners that need extra capital. Paypal’s Debit MasterCard® enables account holders to use their PayPal balance anytime – at ATMs, in store and online – with no annual fee.

Bankera

Bankera is a blockchain-based digital bank with traditional banking services that supports both cryptocurrencies and fiat currencies. To set itself apart from the rest, Bankera plans to provide proper banking solutions, such as IBAN accounts, a currency exchange, payment cards and payment processing; not only for cryptocurrencies but fiat as well. Bankera will also offer loans and deposits to allow its clients to get interest rates on their holdings or to borrow at a preferable rate.

Graft Network

Graft is a payment platform based on blockchain technology that has the features of a cryptocurrency and decentralized point of sale system. Transactions are securely and privately registered, while payments are processed in real-time using digital and fiat currencies.

Monetha

Monetha is a blockchain-based payments gateway built on the Ethereum network that works in tandem with a decentralized trust and reputation management system. Merchants will be able to accept Ethereum based cryptocurrencies and exchange them with fiat currencies. User ratings and reviews will serve to drive up trust in the system and decrease the likelihood of fraudulent buyers.

UTRUST

UTRUST is a payment platform that empowers buyers to pay with cryptocurrencies while providing a purchase protection mechanism. UTRUST covers both goods and services, whereas other traditional platforms such as PayPal only cover the purchase of physical goods. A buyer can make a purchase with a cryptocurrency at a low conversion rate, or use UTRUST’s token with a zero conversion fee. Funds are automatically converted to fiat currency in order to protect the seller from market volatility. A flat fee of 1% is levied on merchants for all transactions as compared to Paypal’s minimum rate of 2.9%.