What is DIMPAY?

What is DIMPAY?

DIMPAY is a payment system that can be used all around the globe and is inexpensive and secure. DIMPAY is a part of the DIM Ecosystem. DIMPAY consists of DEPOTWALLET, mobile DEPOTWALLET, and a Debit Card.

The idea is that a consumer can pay for a product with DIM Currencies by using their smartphone. The mobile DEPOTWALLET or a Debit Card will then transfer the amount of DIM Currencies from the consumers wallet to the merchant’s wallet.
The merchant will be able to use the received DIM Currencies to pay their suppliers, employees, rent etc.

Funds stored in the wallets will be DIM currencies. These currencies are equivalent to the value of fiat currencies. To read more about DIM currencies click here (page 16).

DIMPAY is a two-legged operation. A consumer leg (private account) and a business leg (merchant account).

DIMPAY for consumer purpose:

Consumers can use the private account to take control of their own money. The account will be linked to the consumers DEPOTWALLET and they can therefore keep track of their DIM Currencies and their cryptonized assets. The consumer can use the mobile DEPOTWALLET to buy everyday items like coffee or clothes, both online or in a physical shop.
This approached prevents the need to carry cash everywhere.

Functions of the account private account:

• Make payments easy with the user-friendly interface anywhere and at any time
• Make recurring payments like rent
• Complete overview of the assets and fund

DIMPAY for business/merchant purpose:

For businesses, the DIMPAY business account can contribute to a variety of possibilities for the business to keep track of their funds, inventory and transactions on one account.This creates a simple but efficient way to overlook the business operations.

Functions of the account merchant account:

• Keeping track of the funds on the account
• Overview of the income and expenses
• Creating invoices and keeping track of the progress of those
• Financial reports
• Pay salary's to the employees´, rent etc

If the merchant runs an e-commerce store, customers will be able to pay for the product/services on the merchants webpage via a QR code. The consumer will use the mobile DEPOTWALLET to scan the QR code. Then the cost of the product/services in DIM Currencies will be transferred from the consumers DEPOTWALLET to the merchant’s account. The same thing will be possible in a physical store.

DIMTOKEN holders

The fees of each transaction is very low, but the fees will be included in the payout that DIMTOKENS holders receive. Read more about DIMTOKENS here