Paygine - Open Financial Blockchain Platform For Fintech And Crypto Business

                      

PAYGINE is an open financial platform designed to operate within its own proprietary banking structure and designed to serve FinTech and crypto-business needs in areas of money remittance, cryptocurrency exchange, and payment for “real” goods and services under White Label solution.

THE PAYGINE PLATFORM

Paygine is a financial platform designed to offer cryptocurrency-related services to both individuals and businesses, allowing for easier, faster, and less expensive currency transactions in a variety of usage scenarios. In short, Paygine is designed to help consumers and businesses use cryptocurrency as simply and conveniently as any other currency, in everyday life.

For individuals, Paygine allows people to quickly, easily, and securely:

• Maintain wallets in both fiat currencies (USD, EUR, RMB, etc.) and cryptocurrencies (BTC, ETH, etc.) with the ability to convert funds between them
• Transfer cryptocurrency to and from a bank card
• Pay in retail shops and online stores using their cryptocurrency
• Carry out worldwide, cross-border transfers of any currency with minimal costs For the business user, Paygine allows retailers to accept cryptocurrency as a payment for goods and services at their place of business or online storefronts, and then automatically convert those payments into the currency of their choice.

Creating such a powerful payment and exchange platform from scratch would require major amounts of both time and money in research, development, and testing. However, Paygine is licensed to utilize Pay Engine Limited technologies and products, which already have undergone years of successful development and testing and have a proven track record of successful real-world use and support. By leveraging the existing technology solutions created by Pay Engine Limited, Paygine will avoid the growing pains and get right down to business.

Pay e Limited Engine

Pay Engine Limited is an international payment processing company founded in April 2012 in the United Kingdom. Its founders included experts from the banking sector, who brought a wide range of experience to the company, including successful projects implemented at American Express, SEB, Bank St-Petersburg, Sberbank, Renaissance Credit, ABN-AMRO and RBS. Pay Engine Limited is the owner of the Best2Pay brand.

In 2014, working together with Visa and MasterCard, Best2Pay developed and launched the Best2Transfer platform. Best2Transfer allows bank customers to repay loans instantly using a Visa or MasterCard credit card issued by any bank.

The Best2Transfer platform services were first launched by Home Credit Bank, a leader in the consumer loans market.

Today, Best2Pay services are used by finance and technology businesses, e-commerce, and beyond, to service more than 1.5 million clients every month, with a portfolio of more than $18 billion in serviced loans, with the number of end-customers increasing by an average of 34% per month.

The Best2Transfer platform was recognized by The National Banking Journal as the product of the year for banks in 2015.

The Best2Pay service offers many advantages over competitors, including:

• Speed & Simplicity: clients can start accepting online payments in just one day
• Safety & Security: Best2Pay has a Level 1 certificate of compliance with international PCI DSS security requirements
• Cost Efficiency: Best2Pay is the only participant in Visa International’s “Bill Payments” program, enabling us to reduce the cost of the transaction interchange fee by 42.8%

The Best2Pay service also already includes the provision of information on transactions in the formats of the merchant’s accounting system, the calculation of the commission at the time of payment, SMS (text message) invoicing, IVR (telephone) payments; payment using social networks and instant messenger networks, and more.

Best2Pay currently works with more than 50 clients, including banks and other financial services companies.

                   

With the Best2Pay platform, technologies, and business experience, much of the groundwork has already been developed and tested. With a proven backbone already in place, it is time for the next step: bringing the existing technology together with new innovations in cryptocurrency. 

INITIAL COIN OFFERING

Initial Coin Offering

In order to raise funds necessary to develop the Paygine platform, the founders will hold an initial coin offering (ICO). The ICO will allow investors to obtain Paygine tokens (PGC) that will be used to pay for platform services. The ICO will have two major stages: pre-ICO and ICO. PGC tokens distributed during the preICO stage will beoffered at the maximum discount.

• Purchase currency: BTC, ETH, or various fiat currencies (to be determined)
• Minimum amount needed to launch the project: $3,000,000
• Maximum amount: $30,000,000

Token description

• The PGC token will be the basic functional tool on the Paygine platform and can be purchased through the ICO sale. Token holder will have the right to pay for goods or services using tokens with a discount from 10 to 30%.
• A finite number of tokens (151,750,000) will be generated. There will be no additional tokens issued.

PGC token policy

1. The Paygine platform will provide services to entities only according to a determined value to be calculated by the platform by pegging the minimal rate of 1 PGC=1 USD and maximum exchange rate determined by market price of the token. In addition to that exchange rule, in case of token usage to pay for platform services, the payer will receive a discount between 10% and 30% (depends on service type).
2. The Paygine platform will allow for using PGC tokens to be used as a means of payment for its clients’ services or goods. In this case, internal exchange rate of 1 PGC will be the greater value of either 1 USD or the current market price of PGC. In case the PGC token will be used to pay for clients’ services or goods, an additiona discount will be applied that will depend upon the type of service.
3. Once the PGC token becomes popular and gains liquidity, it will be used as an internal technical currency in the money-transfer system on the basis of the Paygine platform instead of BTC or ETH.

PGC Token Distribution

The total amount of PGC tokens will be limited to 151,750,000. This total will be broken down as follows:

                 

During the ICO, 41,508,000 PGC tokens will be presented for sale, including 1,218,000 offered during the pre-sale. 10,290,000 of the ICO tokens will be reserved for bonuses. 

            

A further 87,742,392 tokens will be reserved for bonuses. All unsold tokens will be reserved for future use and will be kept by the Paygine platform. Reserve tokens will be put on hold for two years, pegged in a smartbcontract. The remaining 22,500,000 tokens will be distributed among the project team members.

 for more information about paygine, visit the following link:

• website:  https://www.paygine.com/ 
• whitepaper: https://www.paygine.com/assets/helpers/files/en.pdf
• facebook: https://www.facebook.com/Paygine/
• twitter: https: / /twitter.com/paygine
• reddit: https://www.reddit.com/user/Paygine