How the smartcard from smartcash works.
There are 2 applications that are needed to make a transaction.
The merchant app or the POS app lets the merchant accept payments.
The other app is the card app that is to be used by the buyer.
Having the card app lets a person create a card and load smartcash onto it.
The app lets not only a person to create a card but also put their name on it. It even has a bar code which comes in very handy while making payments.
As an added feature there is a PIN based protection. A PIN validation is required to authenticate the payment at the merchant outlet.
A great innovative feature is that no internet is required to be enabled on the buyers device.
Once the user loads smartcash onto his card he is free to take a print out of the card for use later or can save the card in his mobile.
Either way the smartcash stored onto the card is super secure and does not even require an internet connection to use it at the merchant outlet.
How the merchant and buyer smartcard work togerher
At the merchant outlet the merchant uses an app that is installed on the merchant mobile and acts as the POS terminal. The merchant enters the amount to be charged into the app and the buyer offers his card to the merchant.
The merchant scans the buyers smartcard with his POS app.
Then the buyer is required to validate the transaction with the help of a PIN .
Once the transaction gets validated it is submitted to the blockchain.
The whole process is very quick and takes only a few seconds.
Even the cost of transaction is zero. The only fee that is charged is the blockchain transaction fee which works to about a tenth of a cent.
The billed amount is transferred immediately to the merchant account.
https://smartcash.cc
smartcash on steemit
https://steemit.com/@smartcash
smartcash on twitter
https://twitter.com/scashofficial
smartcash discord channel
discord.smartcash.cc
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Σ30 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.077 USDperSMART. Current value of the tip is$2.31 USD. To find out more about SmartCash, please visit https://smartcash.cc.