Every Business Needs the GRAFT Payment System

animaya (55)in #cryptocurrency • 7 years ago (edited)

Terry has converted 1 room of her home into a paying guest accommodation. She has even advertised for the same at classified sites on the internet. She is getting bookings inquiries. She does not have a credit card processing facility as the cost of setting up a credit card machine is high for a single room low volume single room guest house.
So without a credit card processing facility and pre-authorization all she can do is take a booking over the phone but a lot of time she blocks the room for people who book but never show up. As she has not done any credit card validation it becomes impossible to charge for the booking. Her only option is receiving cash when the guests arrive. This greatly limits her business.
A solution to such problems is being created by GRAFT which is a Blockchain-based, Not-for-Profit Open Source Project that is creating a more efficient payment system that currently exists.

In addition the system integrates the option to integrate the processing of cryptopayments. The system design overcomes the drawback of a cryptocurrrency payments like slow transaction speed, lack of privacy and high transaction fee amongst others.

The New Payment system would be very easy to implement for a merchant into his POS payment processing device.

It also means that the mobile phone app through which GRAFT offers its payment services can be used by merchants to process the payments and buyers to pay the bill.

So be it a matter of doing pre-authorization for a hotel booking. A certain amount can be blocked towards the payment of the room. It can process credit or debit card payments that are all processed in real time by the GRAFT payment network that too at a fraction of fee that would be charged by a credit card company to the merchant.
Such a payment system would not only make the small merchants and their businesses viable but also make even bigger merchants process their payments faster in real time.

It is a global decentralized network so be it some one in a remote village in India, Africa, Europe or any part of the world Graft is opening up the entire world to do business with and send and receive money as well.

Merchants can receive the payment in crypto and have the option to convert it to their local currency.

As buyers have the option to pay with crypto or fiat. GRAFT lets them pay for anywhere a debit card payment is accepted.

Another Plus of using this type of payment is that Peer to peer payments sent to family members or friends for that matter would not incur any fee.

Businesses like bars that need to pre-authorize clients for various parameters like age can do so with ease.
This can be easily done using the GRAFT Payment system to authenticate the age of the customer as it is a built in feature of the app.
Despite being a blockchain driven project the privacy of transaction is maintained due to innovative design and workflow.

The brain behind GRAFT is a team of star performers from the world of payment processing .