Welcome to the PayFair biweekly update for the decentralized cryptocurrency exchange/escrow service PayFair.io. Topics within the weekly update will include, but are not limited to: Marketing, Exchange news, last weeks completed developments, this weeks planned developments and anything else deemed newsworthy!
FIAT to Crypto Web Store Extension — LAUNCHED
The PayFair Crypto Web Store Extension has now launched and allows businesses that wish to accept crypto an automated conversion facility. We are extremely excited about this extension and countless hours have gone into its development.
NOTE: English is currently being reviewed. The extension has FULL functionality.
How it works?
Our payment system provides a way for your store to accept online payments (like PayPal, but in cryptocurrencies). With our USD-equivalent invoices, it’s even more simple for you because you don’t have manually calculate or follow the cryptocurrency market!
Simply set up your store and we will do the rest! USD-equivalent invoices are great, however this is an optional feature and you’re able to create invoices with a fixed amount of cryptocurrency.
Access the Web Store Extension under the drop down “Register” or https://merchant.payfair.io
So you want to accept crypto?
- Create a store, set up the cryptocurrencies you would like to accept and the prices for it
- Receive the storeId and secretKey
- Install the PayFair Store Extension
- Create invoices and redirect users to our payment page (we provide the link to redirect them)
- When the user finishes the payment — your app receives a callback with all the necessary information for you to process the payment
- Cryptocurrency is automatically deposited to your wallet
Step by Step
First, the user provides their email address as it is needed for payment notifications. Also, we will send an email containing a reusable link to the payment page. This link can be used at any step of the payment. Even if the user accidentally closes the browser tab, or changes device — they are able to return to the payment page they were originally accessing.
Next, the user chooses the cryptocurrency they would like to use for payment (one of the options defined by the seller). The cryptocurrency and its amount is fixed on this step and can’t be changed to prevent market fluctuations and/or abuse.
The user then chooses from one of three payment types: transfer the crypto to a temporary address, transfer the crypto from an existing PayFair wallet, or buy crypto on the PayFair exchange to use for payment.
If the user chooses to transfer funds to a temporary and unique address, it works offline! All the user needs to do is transfer the amount of cryptocurrency to the provided address and wait for the payment to clear. As we’ve mentioned before, if the user closes the browser tab it will not impact the payment. The reusable link will return them to the payment page at any time (even if payment is already complete — in this case, the user will see the completion page).
If the user has transferred a partial amount of cryptocurrency, but not enough for the payment — it is displayed by way of a progress bar for the already transferred cryptocurrency. The payment is completed when the sum of all transferred cryptocurrency equals the payment.
When the payment is finished , a confirmation page will display as well as a confirmation email. The confirmation page also contains useful links such as the invoice portal.
As mentioned, we are extremely excited about this extension and will be heavily pushing its utilisation in 2019.
NODVIX.com, our first Business to Business partner has successfully launched their ICO after making softcap! A quick reminder of how NODVIX and PayFair will be working together:
FIAT to NDVX — Advertisers and Content Creators
Entering the cryptocurrency market is one of the largest hurdles for the general public and ultimately the roadblock that slows mass adoption.
NODVIX aim to eliminate this problem via the use of the PayFair.io API!
Using the the PayFair Web Store Extension, they can automate the buying and selling process of NDVX to and from FIAT, providing a significant quality of life upgrade for those Advertisers and Content Creators that wish to utilise their platform but do not want to learn the process of buying and selling cryptocurrencies.
A message from the NODVIX CTO:
Read more here: NODVIX ICO LAUNCH
PayFair Bounty ongoing!
THE PAYFAIR BOUNTY IS ONGOING, JOIN HERE
The bounty is being held on the Bitcointalk forums and will require participants to perform specific tasks in return for PFR tokens.
The bounty will run until 31st January 2019, at the end of which tokens will be awarded to its participants. PayFair has allocated 250,000 PFR for this bounty and encourages the whole community to get involved.
To participate in the bounty, you will need to create an account on http://bitcointalk.org/. Its free and they do not collect any information, meaning this bounty is open for all!
When you carry out specific actions that will be outlined within the bounty thread on bitcointalk, you will receive a bounty stake. After the bounty is completed, the bounty stake will be converted to PayFair tokens. The total number of Payfair tokens you will receive will be calculated:
250,000 PFR / total number of bounty stake distributed * volume of your bounty stake
Join us on Telegram! https://t.me/payfair