SelfPay – SxP ICO Cryptocurrency Payments Profit Sharing Rewards?

SelfPay allows merchants to accept cryptocurrency payments using the same point of sale terminal as their credit card POS. Find out how the platform works today in our SelfPay review.

What Is SelfPay?

SelfPay, found online at, is a point of sale (POS) technology that aims to make it easier for merchants to accept cryptocurrencies. Thanks to SelfPay, merchants can accept cryptocurrency payments using the same point of sale terminal they use to accept credit card payments.

In other words, merchants wouldn’t need to implement an entirely new POS system to start accepting cryptocurrencies.

SelfPay aims to bridge the gap between traditional payments and cryptocurrencies, lowering fees along the way.

The platform involves paying for goods and services over your mobile device. The merchant receives the funds, and you complete a transaction in a fast, cheap, and convenient way.

How Does SelfPay Work?

The SelfPay platform was released in 2016. It already exists, and it’s been tested throughout Southeast Asia over the last year. The company believes the platform is ready to be marketed and spread across the remainder of Southeast Asia.

The initial version of SelfPay works as a payment aggregator. By the end of 2016, the company had added the ability to accept payments via different gateways.

Notably, this version of SelfPay was tested in two Southeast Asian countries using Omise (the creator of the OMG token) and Cybersource (the parent organization of VISA) as payment gateways.

SelfPay’s blockchain version is still in development, so final details of the platform have not yet been released. However, the goal is to build a platform on the Ethereum blockchain, bringing cryptocurrency transactions to small and medium businesses.

By 2017, SelfPay had added validation for payment aggregator functionalities, which meant sellers could manage their own payments offline and online with self-managed payment gateway keys and their own contracts with their preferred payment gateways.

They’re targeting Southeast Asia first because they’re an Asia-based team and company. They also believe the platform answers local payment needs. Many merchants in Southeast Asia struggle to implement loyalty programs because so many of their customers are tourists. These tourists might shop at a store once, then never return to that particular town. Merchants need a way to attract customers to their business, pay lower fees, and make more money.

SelfPay Features

Some of the core advertised features of SelfPay include:

Point Of Sale Payment Aggregator:

SelfPay is a payment aggregator that uses local payment processors in each merchant country to provide a unified mobile and web interface. This interface allows merchants to accept international credit cards and local debit cards. This reduces payment friction, enables real-time payments, and builds trust (the payment happens on the buyer’s device, and buyers are inclined to trust their own phone more than a stranger’s POS system).

Cash Back:

One of the unique features of SelfPay is that users receive a cash back bonus with every purchase. SelfPay gives users the equivalent of 40% of the fees of each transaction made using the platform, while merchants receive 20% of the fees. Both users and merchants are incentivized to use SelfPay.

Plug N Play Architecture:

SelfPay is built upon modular architecture that allows payment gateways to be swapped in and out in a seamless way, allowing users to choose their preferred payment gateway depending on their business context and the country their business is targeting. In more straightforward terms, that means SelfPay can easily expand to new countries and regions.


SelfPay is a software as a service (SaaS) solution that provides payment functionality using existing gateways (like Stripe, CyberSource, or Omise). This means the security is in the hands of the local e-payment gateway. SelfPay never handles credit card numbers on its servers.

How To Use SelfPay

Here’s the basic process you can expect to use during a SelfPay transaction:

  • Step 1) The buyer wants to buy a product from a seller registered on SelfPay
  • Step 2) The price is computed to integrate SelfPay fees (including interchange fees and local payment gateway fees)
  • Step 3) The buyer fills out their credit card information; the payment is processed by the payment gateway
  • Step 4) When the charge is successful, the product amount is forwarded to the seller’s account
  • Step 5) SelfPay transaction fee benefits are exchanged into cryptocurrency and sent to a smart contract
  • Step 6) The smart contract dispatches a cashback bonus to the token holders (40%) and the seller (20%).

The SxP Token Sale

The SxP token is used by SelfPay to incentivize merchants and token holders. It’s an ERC223 token (ERC20 compatible) built on top of Ethereum.

The token pre-sale lasts for 30 days, from October 3 to November 2. The ICO begins after the pre-sale, with the overall crowdsale concluding on December 1.

75% of the total supply of 100 million SXP tokens will be sold during the token sale. The remaining 25% will be split among bounties (5%), team members (10%), and partners (10%).

During the token sale, 1 ETH = 300 SXP. A 60% bonus is available during the pre-sale.

Who’s Behind SelfPay?

SelfPay is led by Raphael Tant (CTO), who has worked in the financial sector for 10 years, from Paris to Hong Kong to Singapore.

The company is headquartered in Bangkok.

SelfPay Conclusion

SelfPay is a unique payment platform being developed in Southeast Asia. The payment platform involves completing a transaction on your own mobile device, then watching the seller receive the payment in real-time. It’s a fast, easy, convenient payment process based on digital tokens.

To learn more about SelfPay, or to participate in the ICO today, visit the company online at

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