pPAY challenges the status quo to make online payments efficient & user-friendly

10 min readSep 17, 2023

Abstract

This paper introduces the creation and integration of a novel payment method infrastructure, pPay, into a new Euro backed Stable Coin (pEUR) ecosystem to make online payments efficient and user friendly. pPay will leverage the stability and efficiency of pEUR and other European stable currencies to provide a seamless payment experience for e-commerce customers and merchants. Each stable coin will be backed 1:1 by Euros or DKK held in our reserve accounts. This document outlines the vision, technical specifications, and benefits of the pEUR and pPay integration in simplifying e-commerce transactions.

Please note that HPay & pPay is used interchangeably in this artical and is one and the same thing.

Introduction
A new Euro backed Stable Coin (pEUR) and pPay Integration
Advantages of pEUR and pPay for E-commerce
pPay Flow & Business model
Technical Integration
Regulatory and Compliance Framework
Implementation and Adoption
Conclusion

1. Introduction

Background

E-commerce has become a central part of our lives, transforming the way we shop and conduct business. However, the payment process still faces challenges such as high transaction costs, delays, and the involvement of intermediaries. This white paper introduces the integration of pPay into the a new Euro-Stable Coin (pEUR) ecosystem to simplify and enhance e-commerce transactions. According to Marketsandmarkets the E-commerce platform market size is expected to grow from 7.1 Billion USD in 2023 to 13.5 Billion USD in 2028.

Purpose and Scope

The purpose of this light paper is to provide a high level overview of the creation and integration of pPay with pEUR, its technical aspects, and the potential benefits in revolutionizing e-commerce payments.

The world is undergoing a profound transformation, shifting from a fiat-based economy to a crypto-based economy. The traditional fabric of legacy institutions is evolving at an unprecedented pace, and at the forefront of this change is pPay. Our mission is to lead this transition toward a global, peer-to-peer (P2P) centered solution, eliminating the barriers that persist in fiat-based economies.

The Complexity of Making Payments

In today’s landscape, making payments, especially cross-border transactions, has become increasingly complex. Two critical issues plague the current payment ecosystem: high transaction fees and lengthy transaction times. While blockchain technology has made substantial strides in introducing cryptocurrencies as viable alternatives to these challenges, certain caveats still exist. When conducting payments using cryptocurrencies, users often encounter the following challenges:

Crypto Wallet Complexity: Operating crypto wallets can be cumbersome, with lengthy and easily confusing wallet addresses causing confusion among users.
Currency Exchange Hassles: Users are burdened by the cumbersome currency exchange procedures required before they can transact freely.
Regulatory Uncertainty: The legal status of blockchain and cryptocurrencies varies across regions, creating regulatory uncertainties that affect many institutions.
Payment-Focused Solutions: Cryptocurrency platforms often lack payment-focused solutions, including “buy now, pay later” (BNPL) models.

Fortunately, there is a straightforward solution to these problems — pEUR & pPay.

2. The Euro-backed Stable Coin (pEUR) and pPay Integration

What is pEUR?

It is a foundation for innovation. The cornerstone of our solution is pEUR, a stablecoin ecosystem backed by Euros or DKK securely held in reserve accounts. pEUR provides the stability and reliability required for modern digital transactions, serving as the bedrock upon which innovative solutions like pPay are built.

What is pPay?

Normalizing Hassle-Free, Borderless Payments, pPay is a new payment method that leverages the stability and efficiency of pEUR. It allows e-commerce customers to make seamless and cost-effective transactions while providing merchants with the advantages of instant settlement and reduced fees.

Our mission is to make payments easy, free, and convenient while ushering in a new era of the crypto-based economy through the benefits of our protocol, ultimately driving cryptocurrency adoption.

Despite remarkable technological advancements, P2P payments remain inconvenient. Even more disheartening is the scarcity of supporting features to make P2P payments seamless. Addressing these glaring issues, our team set out to develop a solution tailored for the digital economy.

Our solution focuses on two objectives: making payments easy and free and making crypto payments convenient. To achieve this, we leverage blockchain technology to address obstacles in cross-border payments. Transactions on pPay transcend rudimentary border constraints. In addition to borderless solutions, our hybrid decentralized approach ensures payments are nearly instant and feeless.

Key Features of pPay

Seamless Integration: pPay is seamlessly integrated into the new pEUR ecosystem, providing a familiar and user-friendly payment option.
Low Transaction Costs: Transactions with pPay incur minimal fees, reducing the overall cost of e-commerce for both customers and merchants.
Instant Settlement: Merchants receive instant settlement in pEUR, improving cash flow and liquidity.
Cross-Border Transactions: pPay simplifies cross-border e-commerce by eliminating currency conversion hassles, just like pEUR.
Enhanced Security: pPay transactions benefit from the security and transparency of pEUR, reducing fraud and disputes.
Shared Revenue: This is revolutionary as there will be shared revenue for all participants of the ecosystem using pEUR or any other european stable coin backed created for pPay. All participants will be like shareholders.
Easy Currency Conversion: Users can effortlessly select the type of currency that suits their payments, simplifying the exchange process.
Buy Now, Pay Later: Taking inspiration from mainstream outlets, pPay adopts the BNPL model to offer a payment-focused solution. Users can buy from online stores and choose a payment plan for their purchases.
Crypto Wallets Made Easy: Operating crypto wallets can often be tedious. pPay eliminates the need for crypto wallets when making payments through our platform. Users can make payments using a phone number, email address, or a QR code.
Easy Fiat On- and Off-Ramp Services: This feature enables users to seamlessly transition between cryptocurrencies and traditional fiat currencies. Bank transfers to and from pPay are supported, allowing payouts directly to debit cards outside of pPay. Additionally, we qill provide a debit card for users to spend their crypto wherever they choose.

Benefits of Integration

The integration of pPay with pEUR will provide a holistic solution for e-commerce payments. It combines the stability of a Euro-backed stablecoin with the efficiency of a modern payment method, offering the following benefits:

Enhanced User Experience: Customers enjoy a seamless and familiar payment experience, increasing their confidence in making online purchases.
Merchant Advantages: Merchants benefit from reduced transaction costs, instant settlement, and the ability to reach a broader customer base, including international buyers.
Efficient Cross-Border Commerce: pPay and pEUR simplify cross-border transactions, removing currency barriers and expanding global e-commerce opportunities.
Security and Transparency: The integration maintains the security and transparency of the pEUR ecosystem, ensuring trust and reliability.

3. Advantages of pEUR and pPay for E-commerce

Low Transaction Costs

pEUR and pPay transactions are cost-effective, reducing the financial burden on both customers and merchants.

Instant Settlement

Merchants benefit from instant settlement, gaining immediate access to funds after a sale is made. No more hassle with payout inconsistencies and lots of accountant work.

Cross-Border Transactions & Currency Conversion

pEUR and pPay eliminate the complexities of cross-border e-commerce by providing a consistent digital currency across borders. Instant conversion to any supported currency.

Enhanced Security

Blockchain technology ensures the security and transparency of pEUR and pPay transactions, reducing fraud and disputes.

Financial Inclusion

pEUR and pPay allow unbanked or underbanked individuals to participate in the e-commerce economy, fostering financial inclusivity.

4. pPay flow and business model

Stablecoins are typically designed to maintain a stable value, often pegged to a reserve of assets such as a fiat currency (e.g., USD, EUR), other cryptocurrencies (e.g., Bitcoin), or commodities (e.g., gold). They aim to minimize price volatility and serve as a reliable medium of exchange, rather than being used primarily as an investment to generate profit. However, some entities involved in stablecoin ecosystems can generate revenue through various mechanisms:

Transaction Fees: Stablecoin issuers or platforms that facilitate stablecoin transactions may charge fees for transactions conducted on their platforms. These fees are usually nominal but can accumulate as transaction volumes increase.
Investment on Reserves: If the stablecoin is backed by a reserve of assets, the entity managing the reserve may generate income on those assets. For example, if a stablecoin is backed by a reserve of USD held in a bank account, the investment earned on that account can contribute to revenue.
Collateralization and Lending: Some stablecoins use collateralization mechanisms, where users can lock up assets to mint stablecoins. The entity operating the stablecoin protocol may generate income by lending out these collateral assets and earning income on them.
Staking and Governance: In decentralized stablecoin ecosystems, users may stake their stablecoins or other tokens to participate in governance decisions. In return, they may receive rewards in the form of additional tokens, which can be sold or held as an investment.
Liquidity Provision: Users and liquidity providers on decentralized exchanges (DEXs) may earn fees or rewards for providing liquidity to trading pairs involving stablecoins.
Service Fees: Stablecoin platforms or wallets may charge service fees for additional features or services beyond basic transactions.
Partnerships and Integrations: Companies or projects working with stablecoins may enter into partnerships or integrations with other platforms or services, generating revenue through collaboration.
E-Commerce Subscriptions: Revenue generated from processing payments from ecom merchants.

It’s important to note that the revenue-generating mechanisms can vary widely depending on the specific stablecoin and the ecosystem in which it operates. Additionally, some stablecoins, particularly those designed for regulatory compliance, may prioritize transparency and stability over revenue generation. Investors should carefully evaluate the terms and mechanisms associated with each stablecoin to understand how it operates and whether it aligns with their investment goals.

pPay, a fintech payment method, has a multifaceted business model focused on various financial services and products, with a significant emphasis on digital currency and blockchain technology. Here are the key components of pPay’s business model:

pEUR: pPay is used for creation and management of the EUR Coin (pEUR). pPay’s primary revenue source comes from the fees associated with the issuance, redemption, and transfer of pEUR tokens. These fees are earned by pPay as a stablecoin issuer and can include account maintenance fees, on-chain transaction fees, and conversion fees.
pPay Account: pPay offers a digital wallet and payment app known as “pPay Account.” It enables users to store, send, receive, and convert various digital currencies, including pEUR. pPay may earn revenue from fees associated with transactions made within the pPay Account.
pPay Yield: pPay provides a service called “pPay Yield” that allows users to earn income on their digital assets, including pEUR. pPay may generate income from income spread (the difference between what they earn on assets lent out and what they pay to users) and may also share a portion of the income with users.
Business Accounts: pPay offers business accounts for companies looking to integrate digital currencies into their operations. These accounts provide businesses with tools for payments, treasury management, and more. pPay may charge fees for these services, depending on the features and volume of transactions.
API Services: pPay provides application programming interfaces (APIs) that allow developers and businesses to integrate digital currency capabilities into their applications and services. Revenue may be generated from fees associated with API usage, depending on the level of access and features required.
Market Making: pPay will have a subsidiary called pPay Trade, which engages in cryptocurrency market making. This involves facilitating trades between buyers and sellers of digital assets. pPay Trade may earn revenue from the spread between buying and selling prices.
Licensing and Partnerships: pPay has partnered with various companies and financial institutions to provide its services, and it may earn revenue through licensing agreements, partnerships, or revenue-sharing arrangements with these entities.
Blockchain and Infrastructure Development: pPay will contribute to the development of blockchain technologies, including the pPay Consortium, which governs the pEUR stablecoin. Revenue may be generated from the development and licensing of blockchain-related technologies.
Regulatory and Compliance Services: pPay will provide services related to compliance with cryptocurrency regulations, including Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. Fees may be charged for these services.
Global Expansion: pPay will expand its services to various regions, aiming to serve both retail and institutional customers worldwide. Revenue can come from fees associated with global transactions and services.

Benefit to the ecosystem

It’s important to note that pPay’s business model may evolved over time, adapting to changes in the cryptocurrency and blockchain industry and regulatory landscape. As the fintech industry continues to grow and mature, pPay may explore new revenue streams and expand its product and service offerings.

5. Technical Integration

Integration with the Wallet App

pPay is seamlessly integrated into a new pWallet app, providing users with a unified and user-friendly platform to manage their digital currency and make payments.

Smart Contracts

Smart contracts automate and enforce the terms of e-commerce transactions, reducing manual processing and the risk of disputes. pPay transactions utilize the same smart contract infrastructure as pEUR.

User Experience

The integration of pPay ensures a consistent and user-friendly experience for customers and merchants. Users can easily select pPay as their preferred payment method within the pWallet app.

6. Regulatory and Compliance Framework

Legal Status

pPay operates within the same regulatory framework as pEUR, or pDKK ensuring its legality and stability.

AML/KYC Measures

Robust Anti-Money Laundering (AML) and Know Your Customer (KYC) measures are in place to prevent illicit activities and protect consumers.

Consumer Protection

pPay transactions will be subject to the same consumer protection laws as pEUR transactions, ensuring the rights and interests of e-commerce shoppers.

7. Implementation and Adoption

Merchant Integration

E-commerce platforms and merchants are encouraged to adopt pPay as a payment option, benefiting from reduced fees and increased customer trust. Shared revenue from pPAY will be a game changer.

Consumer Adoption

Consumer adoption of pPay is a key factor in its success. Marketing campaigns and incentives will be in place to encourage consumers to use pPay for their e-commerce payments.

Strategic Partnerships

Collaborations with payment service providers, financial institutions, and e-commerce stakeholders are pursued to expand the reach and acceptance of pPay.

8. Conclusion

The creation and integration of pPay with a new Euro backed pEUR or DKK backed pDKK will mark a significant milestone in transforming e-commerce payments. By combining the stability and efficiency of pEUR with the convenience of pPay, we aim to create a seamless and cost-effective payment ecosystem for customers and merchants alike. As pPay gains adoption, it has the potential to reshape the landscape of e-commerce payments and create a more accessible and efficient digital economy.