An electronic payment system is a method of making transactions or paying for goods and services through electronic media without a check or fiat payment, also called an online payment system. This is a form of payment that has grown in popularity among business owners for their customers. Over time, payment processing devices were introduced to increase, improve, and secure secure electronic payment transactions.
No matter how popular this form of payment is, I came to look at various problems that affect this whole space. I say that the electronic payment network has become a centralized giant. This has become a playground for the “giants” to implement strict and complex rules and access mechanisms.
In a computerized world, the way we manage and maintain authoritative control must change. Blockchain promises to solve this problem. The innovation that underlies bitcoins and other virtual monetary forms, the blockchain is an open, transmitted record that can efficiently and clearly capture exchanges between two collections. The record itself can also be configured to start exchanges naturally.
Thanks to the rich interaction of Alchemy and his eco-associates in portable payment applications, the group will certainly lead the innovative payment business application during the blockchain and will use mechanisms in which usual Payments are well known to dealers.
Alchemy Global Payment Solutions Limited's vision is to provide open source protocols and rapid product development platforms for ecosystem partners to help them with fast, secure, convenient, flexible and fast-growing global payment solutions based on decentralization, smart contracts and consensus mechanisms from blockchain technology.
Thanks to the rich experience of Alchemy and its ECO partners in mobile payment applications, the team is confident that it will lead the technological application of the payment industry in e oxy blockchain and use solutions where traditional payment is popular among sellers. Thanks to decentralized agreements on payment of smart contracts and incentives for innovative opportunities of various payment technology companies, the team seeks to activate the human wealth of technical talents, use the Agreement to reach consensus of the industry community and guarantee transparent implementation of the rules with technology so that cryptocurrency can become an important part of the real transaction in the near future time.
How Alchemy Works
Alchemy’s goal is to plan a payment protocol through a network agreement, create a decentralized, trust-controlled structure to accelerate the penetration of digital currency into our daily lives; and above all, to restore the benefits of payment to shippers, customers and the market.
One of the most important issues of traditional payment systems is that the FIAT legal money standards are an elite alternative to exchanges. At this point, this allows the combined organizations to control the forms of clearing and settlement.
Advantages of the electronic payment system:
- Transactions are completed in a matter of minutes, which makes them extremely efficient and effective, since I do not need to waste the time of my clients.
- All transaction costs are significantly reduced, which means an increase in the number of customers for my business.
- Adding payments to my company’s website was simple and it took me just a few minutes to start processing online payments.
- The security of electronic payment systems is relatively better compared cash payments.
As you can see, this is a promising campaign that has many advantages. Reliability, safety are guaranteed here.