Shifting the Narrative

How does a centralized payment protocol work?

  • The customer goes to the merchant’s website and makes a purchase by pressing the order button and entering the payment details.
  • The customer’s web browser will now encrypt the customer’s information and send it over the merchant server.
  • The merchant sends the details of the transaction and the user to the payment gateway.
  • The payment gateway sends the information to the payment processor.
  • The payment processor finalizes the transactions and sends a response.
  • The payment gateway gets the response and sends it back to the merchant’s website and the customer.

Vulnerabilities of a centralized system

8Pay: Why decentralization is the answer

  • There is no big boss making all the rules in the system deciding who gets to be the part of their network and who doesn’t.
  • There is no single point of failure in the system. This makes sure that our system is extremely secure from hackers.
  • The merchants will be able to operate their business without the fear of getting kicked out of our platform.
  • The customers will be relieved of the fact that their money is in safe hands.

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

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8PAY

8PAY

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