Like Bitcoin, Ethereum is a distributed public blockchain network. Although there are many technical differences between Bitcoin and Ethereum, the main difference is their purpose and function. Bitcoin offers a peer-to-peer electronic money system for Bitcoin payments or transfers. Meanwhile, Ethereum focuses its blockchain on running decentralized programs, including payment or transfer of Ether. Blockchain technology promises to facilitate fast, secure and inexpensive international payment processing services (and other transactions) through the use of an encrypted distributed ledger that provides reliable real-time transaction verification without the need for intermediaries such as correspondent banks and clearing houses.
Amepay is to provide open source protocols and rapid product development platforms for ecosystem partners to have access to fast, secure, convenient, flexible and fast-growing global payment solutions. These payment solutions are built based on the decentralization, smart contracts and consensus mechanisms from blockchain technology.
One of the most fundamental problems of traditional payment networks is that legal FIAT currencies are the exclusive options for transactions. This then helps centralized institutions retain power over the clearing and settlement processes.
As a decentralized open ecosystem, the Amepay network provides access to various assets that can be liquidated, including but not limited to various cryptocurrencies, tokens, credit payments and points of credit service providers, various forms of digital assets, and fiat currencies; ultimately helping to open up options for transactions and not limit them to one single form of currency.
Powering AMEPAY is a transparent and decentralized blockchain infrastructure that also doubles up as a reliable database to store and share transaction records. Blockchain allows AMEPAY to pass on the following benefits to our stakeholders:
- Lowcosts and greater revenue share for merchants
- Simple, elegant and anonymous payments for users
- Scalable, interoperable and future-ready technology for all
AMEPAY also factors in an in-built loyalty program that is intuitive, effective and efficient. Using this, merchants can attract value by channeling tangible and practical rewards directly to their customers.
Merchants can explore greater merit in AMEPAY through supplementary offerings such as hardware and software POS support, inventory management, data analytics and more.
AMEPAY uses the AME token, which is developed using the Ethereum-based ERC-20 protocol. This token functions as the primary medium of payment settlement and fund transfer on the platform. It also plays a critical role in AMEPAY’s incentive program that enables users to earn rewards on every transaction.
- Primary mode of payment on AMEPAY
- Fast transaction processing
- Cross-border transactions
- Incentive program
- Crypto-to-crypto and crypto-to-fiat functionality
- Scalable architecture allowing exploration of future use cases.
The next critical technology in AMEPAY’s armoury is the digital wallet. This wallet supports both crypto and fiat currency. It enables users to store their private and public keys securely. It also arrives with dedicated dashboards for Customers and Merchants, allowing them to manage their accounts efficiently.
One of the biggest barriers to widespread crypto adoption has been enabling businesses to seamlessly accept payments in cryptocurrency. As the number of people who own cryptocurrency rises globally, so too does the demand to pay for goods and services with digital coins. But some merchants, many of whom are unsure about cryptocurrency and blockchain’s future, have not been as fast to match levels of customer demand. Harnessing blockchain’s superior security protocols, Amepay bridges the gap between the fiat and crypto worlds, allowing merchants to tap into an emerging crypto-paying consumer base by enabling interchangeable crypto-fiat payment transfers.
For more information please visit links below: