Thai start-up Atomicpay launches non-custodial crypto payment platform

Fintech

Atomicpay, a payment start-up registered in Thailand, has officially launched its non-confidential cryptographic payment terminal for merchants worldwide. Founder and developer Benz Rif said that the platform, which supports BTC, BCH, LTC and other cryptos, eliminates the involvement of a third-party processor, allowing merchants to accept payments directly from their clients.

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A P2P payment solution with payment processing benefits

"Cryptocurrency itself is decentralized, but blockchain payment processors continue to be centralized," Rif told News.Bitcoin.com on Jan. 12. "The same problems persisted: high processing fees, hidden fees, slow settlements, hacks, gambling problems, confidentiality and censorship."

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Atomicpay's technology-based allows store owners to obtain immediate custody of funds when a user makes a payment. The platform does not work as a financial repository like Paypal or Bitpay, said Rif. From the beginning to the end of a payment, no funds will pass through Atomicpay, any more than the subcontractor owns funds owned by retailers.

"It's a fully peer-to-peer payment solution, with the convenience and benefits of a payment processor," Rif explained. News.Bitcoin.com has tested the platform, whose account creation process has turned out quite simple. Provide a full name and email address. Once you have authenticated your email address, you are ready to go. An assistant on the site helps you to configure the wallet addresses of your choice in which the payment will be made.

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Atomicpay is not a wallet service – neither an exchange service nor a cryptocurrency exchange service. Rather, it is a payment platform designed for merchants, but unlike storage solutions, it does not store or store money. When everything is set up, the site asks you to generate an invoice indicating your preferred fiduciary currency for payment processing (156 trust currencies are supported). After that, the user is prompted to scan a QR code or enter an existing bitcoin wallet address where payment is made directly from the wallet to the merchant. The proposed payment buttons include Quickpay and Pay URL.

More than 1,700 merchants on board

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"Atomicpay does not have access to the merchant's private key and the money goes directly to his wallet," noted Rif. "Our service allows merchants to receive payments directly from their customers without going through a third party. As a result, fees are not deducted from transactions. Our plans are based on a post-paid billing model. Merchants only pay for their consumption at the end of the month. "

What do you think about Atomicpay's crypto-payment platform? Let us know in the comments section below.


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