Hello Waves community,
I work for a financial services business that provides a payment request technology to merchants enabling them to send their customers an SMS and email message with a secure link to a tokenized transaction. In short, a utility company sees a customer didn't pay their bill, so they send them an SMS message with a link to a secure page where they can input their credit card billing information and settle their late payment.
We currently go through an acquiring bank which charges 2.9% per card transaction, fees totaling approximately $22 per month, and a $29 annual fee-I know, heresy in the world of blockchain tech.
I've been waiting for the crypto world to come up with a turn key blockchain solution, knowing its only a matter of time before we're able to do these transactions for close to no-cost. My question is, can the Waves platform be that payment gateway?
I'm not quite clear on the Waves functionality as a payment gateway. Essentially, we would need to be able to allow merchants to send customers a link, pay in fiat money, convert this fiat into tokens, transfer tokens to merchant, and convert back to fiat. And it needs to be done reliably, securely, and cheaper than an acquiring bank can do it.
Is this possible?
Hi @theomoplatapus,
It is very nice to see the real use case possibilities are enhancing with the kind of proposals/ideas such as yours. To make the Waves platform viable for such a payment request company, we will first need a service provider which allows utility bill payments through Waves. This service might be provided by a gateway itself, or by a third party which works in cooperation with a gateway. And on top of that utility payment service, I think, your company's system may be installed. So instead of the acquiring bank, you will have the utility bill payment provider.
But we shouldn't think that those services on blockchain will come out at no cost. I would expect 1-3% fee per payment, depending on the Waves gateway and the utility bill payment provider.
Best,
Jian
