Guides to Blockchain Related Apps
14. Paytomat Payment Application
Paytomat is a payment application system developed on the EOS blockchain by co-founders, Alexandr Baranovsky and Dmitry Shvetsov. The app focused on bridging the decentralized global financial world with retail and the team is reported in the whitepaper to be 50+ staff strong with system reported to be currently used by more than 300 e-commerce and retail merchants as of March 2019, to accept payments in cryptocurrency at restaurants, cafes, salons etc.
As of today, there are too many steps needed to make a single purchase using cryptocurrencies. Paytomat provides services to hedge the risk of cryptocurrency payment while streamlining and increasing the speed for such payments. The app integrates with existing point of sale systems or provide a standalone solution to offer user-friendly customer payment solutions for users or companies in multiple cryptocurrencies (18+ cryptocurrencies currently supported), allowing them to save completely on hardware cost.
Supported Cryptocurrencies are Bitcoin, EOS, Dash, Ethereum, Bitcoin Cash, Zcoin, NEM, NANO, STEEM, waves, Litecoin, Bitcoin Gold, Bitcore, Digibyte, Horizon etc.
Users can easily scan a QR code with supported cryptocurrency wallet and make payment using the supported cryptocurrency of their choice. Merchant can enroll for free via POS or by installing the Paytomat Merchant application. Users can monitor balances for multiple addresses using the same Paytomat mobile wallet and view fiat equivalent value using current cryptocurrency exchange rates. Users do not need to pay any transaction fees, it is a feeless application.
Paytomat App uses PTM tokens as a participant incentive token, distributing to all participants a specific amount of PTM tokens for every transactions they had completed using the Paytomat blockchain based application payment system. The application will take a 2% exchange rate margin in cryptocurrency value and distribute 95% of it to liquidize PTM tokens and 5% to Paytomat Core.
87.5% worth of PTM tokens will be distributed to all members of Paytomat ecosystem. PTM tokens distribution is shown below:50% for Merchants that accepted cryptocurrency payments.
10% allocated to regional leaders for managing POS vendors and Merchants.
10% for POS vendor to process Merchant’s payments.
7.5% to all Masternodes of Paytomat ecosystem.
5% for DAO fund.
5% for Relay to provide cryptocurrency address for acceptance of users’ selected cryptocurrencies.
Remaining 12.5% will remain in Liquidity reserve to support token value.
User that staked 1 million PTM tokens with Paytomat Core can run a Masternode and acquire voting rights in the Paytomat network governance.
The Paytomat team reasoned that the current conventional banking and financial system have expensive cross-border payments with strict KYC limitations and virtually no control of privacy. There are growing customer expectations globally for Omnicommerce,or seamless customer experience to pay using the same method regardless of consumers purchasing online, physically at the store or through a mobile device. Hence, the Paytomat App aims to solve all of the above with a decentralized secure payment system using the blockchain technology.
2017 Q2:Started Paytomat development.
Launched Paytomat MVP.
Integrate Profit Solutions POS.
Bitcoin, Litecoin, Dash and Waves supported for payment.
Integrate Poster POS.
Paytomat Mobile Merchant Alpha release.
Implemented web application customer invoicing.
Paytomat Mobile Wallet 1.0 release: deterministic multicurrency wallet.
13 cryptocurrencies accepted for payment.
Paytomat Mobile Wallet 1.x: Support more cryptocurrencies, ERC20 and EOS tokens.
Paytomat Mobile Merchant 1.0 release: mQR code for Merchants, transactions and notifications.
Launch Paytomat Core MVP.
Paytomat Mobile Wallet 2.0 release with Merchant catalog, built-in exchange etc.
Launch Paytomat Core production.
Paytomat Mobile Merchant 2.0 release with products inventory, invoicing, reporting etc.
Paytomat Web Merchant 2.0 release with web version of Paytomat Merchant App including product and user management.
Launch own Paytomat EOS chain with PTX-based loyalty programs, voting for cryptocurrencies etc.
Paytomat Partner Web 1.0 release: Web application for participants to see transaction volume, track rewards and vote.
Paytomat Mobile Wallet 2.x release: more currencies, transaction notifications.