Introducing 8Pay: A Defi Platform for Automatic Crypto Payments

Increased adoption of cryptocurrencies has led to growing demand for processing services to help businesses and users manage burdensome manual crypto payments, with a variety of implementations available for online and offline merchants.

Unfortunately, current solutions are somewhat disconnected from the existing defi ecosystem, lacking the convenience of a more universal service platform. So what if there was a solution that could combine the benefits of decentralized finance and automated crypto payments in one application?

That’s where 8Pay comes in. But what exactly is 8Pay, what benefits does it offer, and what comes next?

What Is 8Pay?

8Pay’s permissionless design is powered by smart contracts, providing a new range of functionality for crypto assets. As a result, users can enjoy single, fixed recurring, variable recurring and on-demand payments at the click of a button, tracking balances and managing payments via the 8Pay web or mobile applications.

8Pay supports four types of billing models that can be shared with customers or embedded into websites via buttons, short URLs, and QR codes. The SDK, meanwhile, is ready to integrate into the back-end of the merchant’s site. One-time billing is used for single payments between two or more entities, commonly e-commerce transactions. Fixed-recurring billing enables payments of the same amount on a regular basis at the same interval, applicable for subscription services like Netflix. Variable-recurring billing allows for payments of differing amounts on a regular basis at the same interval, such as payments for utility bills. Finally, on-demand billing can be used for recurring payments of differing amounts at random intervals, allowing merchants to set debit payments up to a maximum amount, without limits on the number of payments performed, useful for services such as Uber.

Completing payments via 8Pay is therefore similar to traditional portals like PayPal, though run over a decentralized network. When a user clicks on an embedded button, visits a short URL, or scans a QR code, they are redirected to an 8Pay checkout, connect their MetaMask wallet, review the operation and sign the transaction. The rest is handled automatically.

What Benefits Does 8Pay Offer?

8Pay’s intelligent smart contract architecture provides such a trustless payment service that allows cryptocurrency wallets to work just like a regular bank account, without the intermediary, delivering a number of corresponding benefits.

Online Payments

Real Decentralization

Wallet to Wallet

Security

Easy Integrations

Staking Rewards

What Comes Next?

The 8PAY token IDO is set to take place on April 5 via BSCPad, the decentralized launchpad for new projects on Binance Smart Chain. Investors will need to hold at least 1,000 BSCPAD tokens to participate, with 8PAY available to anyone on PancakeSwap, the leading DEX on BSC, shortly after the IDO concludes.

By decentralizing the entire intermediary process for payments, 8Pay intends to empower merchants and consumers for the digital age, overcoming the inefficiencies of traditional payment systems, and expanding the functionality of cryptocurrencies to make digital assets increasingly suitable for everyday use.

8PAY is an all-in-one payment protocol that enables quick and simple recurring transactions with digital currencies.