Find out how Paytomat technology is opening an entirely new distribution channel for crypto-teams — without exchanges, exchangers, and covert transactions.
History has many examples of developers coming up with a solution to a problem they weren’t even trying to solve in the first place. For instance, Groupon originally was conceptualized as a social network, or Instagram, which was an app for whiskey fans, or even QR codes. First designed in 1994 for the automotive industry in Japan, this barcode technology proved to work well in the crypto-industry as well. Something similar happened to us, and today we’re going to present you one more application of Paytomat which will definitely make crypto-enthusiasts and crypto-developers happy.
It is clear, for those who closely follow our project, that the Paytomat story applies to both B2C and B2B markets. On the one hand, we make life easier for any cryptocurrency owner and open a world with convenient and straightforward crypto-payments to them. From the business side, we work with merchants and teams.
The first ones get the opportunity to expand their client base and get benefits from our loyalty program. In turn, core teams, while adding their coins to the system, might significantly increase the added value of their project. Their crypto assets become much more than means of accumulation or speculation — they acquire an understandable form of payment or exchange. At first glance, this story seemed to be exclusively about general trading. Until we came to Haken — a global tokenized business with operating cybersecurity products.
The Problem
There are only a few ways of buying crypto: exchanges, ICO stages or buying it from another person. The first option is time-consuming. It can take a very long time for a token or a coin to be listed on a regular exchange. The second option’s flaw is that potential buyers should obviously know about the project from the very beginning, as well as be interested in ICOs and be ready to wait for the release of a token or a coin. If you decide to buy crypto directly from someone, you could meet an unscrupulous seller, lack of guarantees and security of the transaction. Thus, we asked ourselves a reasonable question, “Is it possible to somehow change this situation?”.
The Solution
If Paytomat allows paying for any service or product using crypto, why not apply it to purchasing cryptocurrencies themselves? This will have the same high level of security as purchasing from the online marketplace. Moreover — this solution is already working.
As we have already mentioned, pioneers are Hacken, a project creating products that use HKN like payment method. Thus, the need for simple and quick purchases is obvious. That’s where the mechanism of Paytomat came in handy. After the implementation of our module, any user can buy tokens of this project directly from the main page. In just six easy steps:
- Visit the Haken website
- Press the BUY button
- Type the number of tokens you need
- Choose the cryptocurrency you want to pay with
- Insert your Ethereum Address
- Check your balance on any ERC20 compatible wallet
And that’s what the Hacken team says, “We used Paytomat to make over-the-exchange sales of HKN using cryptocurrency.
Thanks to the intuitive interface of the Merchant Web Control Panel, the process of registering and creating the HKN “goods” didn’t take long. Technical support in just several hours implemented price synchronization with the ETH pair on the exchange, and as a result, we got a convenient <iframe> that can be inserted in the site, and our users got the opportunity to purchase HKN with 13 popular cryptocurrencies.
By the way, the same Merchant’s Office provides an extract for all incoming and outgoing transactions and has an API for using this data in other accounting instruments. Developers regularly prepare updates, improving user’s part and correcting the detected errors.”
Benefits
The advantages for crypto teams are obvious: you can now set up a distribution system without waiting for access to exchanges while getting additional sales channels. This approach can be especially interesting for utility projects, whose assets mean having a constant exchange for goods or services. Moreover, for any user, a “two-click” purchase is much more convenient.
What’s more, our new module closes the cycle for the holistic payment system for any cryptocurrency. Users can get coins on the site; then purchase in the online or offline world; get the additional profit in PTM tokens with the loyalty program; sell them or use for exclusive proposals; and so on, around the whole cycle.
Want to learn more? Wait for us at the next event and join our official channels.
