GRAFT: Decentralized payment solutions, equipping businesses to transact with cryptos

solpaman (38)in #cryptocurrency • 6 years ago (edited)

GRAFT is concerned with easing the pain users and businesses face, when wishing to exchange crypto for everyday utilities.

Life as we knew it

It is a decentralized platform and it is based on the blockchain. Its value proposition is built around ensuring that crypto transactions are fast, can be used in any scenario, and they are affordable, so that even micro-payments, such as paying for tea, become feasible.

Pre-GRAFT
This is where crypto payments have been lacking, when compared to regular solutions.

GRAFT has an already working product, that has been integrated easily with existing solutions, such as Verifone and Ingenicio. This ensures that they do not have to waste precious time and resources building separate devices that will cost them more, and also ensure that companies that use them will end up paying more in the long run. Having mobile payment apps also ensures that companies, have multiple channels to meet the needs of customers.

Verifone terminal integration

Ingenicio terminal integration

This among others will ensure that the way users relate with crypto will be similar to what is obtainable via fiat, if not better. Ease of access and multiple locations accepting crypto will ensure that the crypto industry and payment processing industries will grow massively, because as more users come on board, there will be a demand to meet. Crypto will go mainstream, and more users will be won over.

With GRAFT in the picture
Low transaction fees(0.1% on the average), which are even lower than what is being offered by credit card companies will help to get more businesses come on board and enjoy better services. Customers will be better off, because they will not have to bear any transaction fees. Infact, by making updates on businesses on GRAFT’s CryptoFind (An application that shows a list of businesses that accept crypto, and whether they accept just bitcoin and altcoins) these users can earn loyalty bonus points.

Real Time Authorization(RTA) is important because it enables this model to work. Without RTA, transaction will not be able to go through quickly, and the purpose will be defeated. Transaction notifications can be gotten both online and offline, and a host of businesses can benefit from this.

Use-Case: Supermarket chains can run discount promos to get users to effect payments using crypto, especially if they decide this is the form they wish to get paid in. Hotels, tech companies, movie theaters and even airlines can use this service to their advantage.

By having supernodes in use, GRAFT ensures that the service is always active, and users can carry out transactions.

As a result of these services rendered by GRAFT, existing solutions will be forced to take a back seat. Users will be king, and they will have solutions that have their best interests at heart.

In reality, everyone wins. The only losers will be those payment processing companies that refuse to adapt and offer services that are on par, or even better than GRAFT’s offering. It doesn’t seem like GRAFT will be resting on the progress they have made so far.

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