The benefits of adopting crypto payments in daily retail
Crypto using the push payment model has several advantages over pre-mobile pull payments such as credit cards, NFC smart cards, and direct debits.
Settlement
The merchant receives the money immediately when the customer completes the push request on their mobile phone.
Scalability
QR codes and payment requests to pay can be generated on big screens, small screens, points of sales, and even on vending machines.
Security
Pull payments are made possible by passing your Primary Account Number – PAN – through the hands of everyone involved in the transaction. You have to trust the merchant, their IT supplier, the acquiring bank, their third-party processor, the card network, and your own card issuer – along with everybody who works for them and has access to their systems.
Automation
Bots and artificial intelligence (AI) can create a “request to pay” token and present as a QR code or an email link to customers without any human intervention. Bots can operate on a message-orientated architecture to create queues and channels and receive incoming payment notifications on them to sync hundreds and thousands of payments at the same time.
Challenges
POS Integration
In large chain stores or retail brands with a comprehensive POS system installed, modifying existing POS software to receive these transaction messages requires many complex system integrations.
Mobile Phone as Payment Terminal
For retailers with more than one service staff member, using a smartphone as a payment terminal means installing the merchant’s payment account private key into a shared mobile phone accessible by many service employees. It is a significant threat to payment security.
Unmanned Services
There are millions of automatic service machines like vending machines or laundry machines that only accept coin and paper money, but it is costly to install a smartphone or networking module inside every vending machine.
Our Solutions
IOT Device
Low-cost offline hardware devices on the merchant’s side. These devices have different form factors to fit different scenarios. They can operate without an internet connection, connect to any legacy POS system, or be installed in existing self-service machines or vending machines.
Cloud Micro Service
A set of cloud micro-services to manage these devices to forward app transaction requests to various blockchain platforms. And also to construct an encrypted messaging channel between these authorized wallet apps and the devices. Added blockchains can be easily supported by simply integrating blockchain micro-services.
API / SDK
A set of APIs/SDKs — to allow wallet apps to communicate with IOT devices and cloud micro-services.
How it works
When a merchant wants to request a payment transaction, the device generates a dynamic QR-Code, which includes information about transaction amount and the merchant ID. After the consumer uses an authorized payment app to scan the QR code and confirm the payment, this app gets a one-time IV-key from the device and send it together with transaction information to the cloud service, and then the cloud service forwards the transaction request to a proper Blockchain platform like BSC.
When the transaction is successful, a cloud service will generate an encrypted message and send it through the app back to the device. Upon receiving and decrypting the encrypted message successfully, the device will display TRANSACTION SUCESS to the merchant, and then the merchant staff can deliver service or goods to the consumer.
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App scans checkout info from terminal by QR code or NFC
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App send merchant ID & payment data after confirm-to-pay
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Process transaction in Blockchain
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Return payment confirmation message
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App send payment confirmation message
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Merchant owner can check and manage payment data from merchant portal or app
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Transaction complete
Mass adoption ready at a minimum cost
No internet settings required, StreamPro payment terminals aim for fast and efficient deployment.
Flexible
An online approach and app-centric design to support the dynamic flexibility required in modern retail commerce.
Easy
A developer-friendly API and white-label wallet apps allows quicker, wider, and deeper industry engagement.
Versatile
Intelligent IOT devices can fulfill various offline scenarios, such as street booths, stores, restaurants, vending machines, and parking gates.
Affordable
Minimal setup and low maintenance costs allow mass deployment to fulfill any business development requirements.
Custom Software / Cloud Service
SecuX SDK
Empowered by SecuX SDK, crypto payments are made via mobile devices including iOS and Android, with secure Bluetooth connections.
Merchant Dashboard
Merchant Dashboard offers a comprehensive understanding of analytic information such as payment history, account information, sales data, and statistics.
Blockchain Integration
Connections to multiple blockchain networks are made with SecuX payment technology, allowing transactions in multiple cryptocurrencies.
Customized Business Solution
Your Own Payment Terminals
Empowered by SecuX SDK, crypto payments are made via mobile devices including iOS and Android, with secure Bluetooth connections.
Multiple Currencies Support
From fiat to crypto, or even your own unique rewards points system, SecuX provides payment solution that supports multiple currencies.
Secure Digital Assets Management
To ensure safety and security of the digital assets for your business, SecuX offers to create the hardware wallet specifically tailored to your needs.
