Steempayco is a new payment processor for both on and off-line transactions. It simplifies the process of accepting payments using Steem Dollars, while also making it easy for buyers to pay for goods/services instantly and without additional fees.
For now, only offline payments are implemented on Steempayco, though it is possible to also use it online in certain cases. You can create a store in your Steempayco account and add individual products or services. Steempayco will create a QR-code payment widget for every product/service you add. Once payment has been made through these payment widgets, you'll see the details of each purchase straight in your payment memo's.
The payment widgets, you can just about use anywhere. It's a very easy system to set up offline payments in a physical store for example. This provides people from developing countries the option of using a more stable currency (Steem Dollars) as opposed to their inflationary native currencies.
I've created a little donation widget, that's one of the ways this could also be used for online payments. This is for illustration purposes, no need to actually donate through that ;-)
When a purchase is made, you'll also see a notification pop up on the payment widgets. I've bought this 'One Time Donation' product from myself, using my smartphone and everything worked great.
The screenshot below, shows you the purchase I was about to make through my Firefox app on my phone.
After I had made the purchase on my phone, I also received a notification on the payment widget, in my Steempayco account.
How it looks on Steemworld:
The system as it now stands is still in early stages and a lot of the features are not implemented yet. That said, it would be possible to already use this in your own store, since you could print those QR-codes and use them to label your products. That way people can easily purchase good from you, using Steem Dollars.
There are huge benefits to using Steem Dollars. Payments are processed instantly, without any transaction fees. Making this an excellent tool for accepting micropayments or to safeguard funds against hyperinflation.
Do share the word about this if you know entrepreneurs in developing nations who might benefit from using this tool. I can imagine that the people from Venezuela could really make good use of this, given their current situation.
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