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With 36 mln outlets in over 200 countries, crypto payment gateway, Paycent is set to make Bitcoin and altcoin transactions very easy and available to crypto users around the world.
The opportunity to spend Bitcoin and other cryptocurrencies effectively always comes as a huge relief to the crypto community who have until recently struggled with the problem of adoption into the mainstream.
A unique innovation
Offering a link between the crypto world and mainstream commerce is a big step in crypto development. However, achieving such in a very liquid manner, where users are not bothered about the ‘behind the scenes’ technicalities is a convenient innovation that Paycent is bringing to the industry.
Paycent is a financial platform powered by Texcent. Its multi-token wallet enables an internal conversion of cryptocurrencies between one another and across fiat currencies in real time. This is one of the qualities that differentiates Paycent from other similar products in the industry.
The Paycent wallet works as an internal exchange with its Realtime Framework technology that is responsible for the back-end processes, thereby permitting a seamless interaction at the front-end of product use.
Also a global mobile dual e-wallet, Paycent can be funded by cryptocurrencies (e.g. Bitcoin, Ethereum, Litecoin) with high liquidity and fiat currencies within the same mobile application. The platform integrates fiat and crypto wallets and also provides the option of having debit cards linked to these wallets. This automatically opens up the crypto market to over 200 countries and 36 mln points that Paycent is accepted.
Mainstream partnerships to assure longevity
Paycent’s integration with the mainstream has seen the company obtain regulatory licenses in UAE and the Philippines, and in-principle approval in Singapore and Hong Kong. The company is also currently in second stage talks to acquire and merge two banks in the Philippines, to create a larger ecosystem for its products. This is a strategy that will allow the setting up of more branches across Asia and enable a quicker penetration into the mass market.
This in-depth interaction between Paycent and the mainstream commercial institutions is a much-needed relationship that has been lacking in the industry. Achieving this is significant in providing a much-needed assurance of longevity for crypto users.
A live working product that has secured regulatory licenses from governments as mentioned above, the company is currently in partnership talks with several other governments, banks and companies across the globe. This is aimed at creating an even bigger ecosystem for Paycent and Paycentos, making it the largest crypto payment gateway service provider in history.
Token sale and coin holders’ benefits
Further expansion that involves developing more international partnerships with governments and banks, establishing branches worldwide and developing a Paycent Exchange in the UAE under the guidelines of the regulatory authority, has necessitated the launching of an Initial Token Sale of PYN tokens (Paycentos) by Paycent.
The Token Sale is also designed to allow the community to participate in the company’s success of straddling between the crypto and fiat world. This utility token can be used within the Paycent dual e-wallet whenever conversion is required from crypto to fiat and vice versa with no other hidden charges.
In addition to other opportunities in the open market for PYN token holders, Paycentos is offering to issue the following benefits:
- Holders of PYN tokens will receive 33 percent of the aggregate exchange rate revenue for cryptocurrencies to fiat and vice versa converted between the dual e-wallet of Paycent. Holders of PYN tokens will additionally receive 33 percent of the total interest revenue of microloans to Paycent users. This will initially be done quarterly with the bounty being paid in ETH to the PYN holders.
- For the users of a Paycent Debit card, they will receive an addition 0.1 percent of each spend in PYN tokens as loyalties token-back (similar to cash backs from credit cards). This will create a secondary distribution of PYN tokens that will create an open market for PYN with a price support and price increase.
The PYN Token Pre-ICO is planned to kick off on Oct. 12, 2017 while the token sale will take place between Nov. 2 and Nov. 30, 2017, and there shall be no creation of new PYN tokens after the planned token sale, to support the growth of the PYN in the open market.
Paycent is the most convenient application up-to-date to buy/sell digital currency and spend it wherever you want with the Paycent card. It lets users top up the wallet with local currency via cash, cards, bank transfers and then convert the fiat currency into the equivalence in Bitcoin or Ethereum in real time.
Team and leadership
The Paycent team is comprised of experienced industry leaders with proven track records under the leadership of Sumedha Goel, President and Founder of the company.
Prior to working on the idea of Paycent, Sumedha was the co-founder at the Asian Investments Group Middle East. She is an early Bitcoin enthusiast who believes in the future of digital payments. Sumedha is an avid blogger and is currently working on a book based on her journey in life after losing her husband to cancer.
More details on the milestones, achievements and plans of Paycent are listed in the product whitepaper which is available to the public on their website.
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