What Is Paytomat?
Paytomat is a platform that incentivizes transactional usage of crypto by use of a decentralized network of point of sale terminals. The platform incentivizes customers and businesses to accept different cryptocurrencies while bringing liquidity to the cryptocurrencies. The platform has an extension that receives payments in the form of digital coins on an existing point of sale. The extension is already deployed to 150 merchants. The developers of Paytomat are currently beta-testing customers beta wallets and a standalone Paytomat mobile POS for a blockchain loyalty program and the processing of payments.
How Paytomat Cryptocurrency Blockchain Payment System Works
The main objective of Paytomat is to increase the penetration of cryptocurrencies as a payment instrument. The platform hopes to achieve this by providing a reliable and feature-rich solution for acceptance of cryptos and for using cryptos as payment. The following systems help to achieve this objective.
- The PTM coin is a stimulus for merchants that encourages them to accept cryptocurrencies. It is also the basis for the sui generis loyalty program for all the merchants who decide to accept and use the digital currencies.
- The PTX token is a reward system that rewards customers who use cryptocurrencies to pay. It is similar to the loyalty cards used in grocery or pharmacies that accumulate rewards and special bonuses each time a customer spends money on the service provider premises.
The target audience of Paytomat include the teams of cryptos who are the founders and advisors of blockchain startups that have cash like cryptos that need high circulations volumes for better liquidity. The other type of customers for the platform are the merchants who are willing to accept cryptocurrencies. The system will drive new cryptocurrency customers to their businesses, and the merchants will get loyalty benefits via the PTM coin. The other beneficiaries are the customers that use crypto as a form of payment. The system will provide these customers with a convenient payment system. The customers can further use the PTX token for payment.
The Paytomat Core
This is made of a combination of a set of APIs that connect the database to different actors, database, and the processing server operating the database.
Payment Processing Gateways
The gateway is used to interpret the business logic of the payment partners to the core, which makes the communication uniform.
This wallet allows for sending and accepting cryptocurrencies that are available in the system. The wallet is also the basis of the loyalty program that is built around the PTM loyalty coin and PTX loyalty rewards token.
Paytomat Platform Uses
The platform can be used in the following ways:
Point Of sale
The platform directly integrates with leading point of sale software, also provides on display invoices, printed QR code receipts and directly integrates with the business accounting and billing systems.
The platform can be used to create checkout modules for shopping carts. It integrates with e-commerce solutions, donation buttons, and website payments.
The Paytomat platform has a social media enabled payment with a digital coins feature. The feature also has a personal identifier. Additionally, one can automatically pay via Facebook, telegram and other chatbots.
Paytomat PTM ICO Details
The Paytomat PTM ICO starts on May 8th and ends on May 25th. The PTM token is based on the Waves platform.