Payment Platform (using a UPAY E-wallet system)

UPAY has the characteristics of cryptocurrency based on the characteristics of existing crypto. Based on these characteristics, two business models are presented to build a global payment platform.

As a previous business that was conducted by many payment operators, a UPAY E-wallet system provides convenience to many customers. Applying the UPAY E-wallet process to the UPAY platform will be the beginning of connecting the cryptocurrency and the real economy. The major advantages of the UPAY E-wallet include convenience, value storage, and global ease of use. The failure to make a payment through existing cryptocurrency is due to the lack of a cryptocurrency settlement process.

However, UPAY, which currently has a payment process related to UPAY E-wallets, can easily provide the process to customers. Therefore, customers can purchase goods and services at any time if they conveniently charge the cryptocurrency they own in a UPAY E-wallet.

In addition, the UPAY E-wallet serves as a cryptocurrency hedging solution for stable asset management through hedging of cryptocurrency. This is because if you exchange and charge cryptocurrency on a UPAY E-wallet, as if you are transferring it from your wallet to an exchange wallet to trade on the exchange, you can hedge the risk of the fluctuation in the value of the cryptocurrency. Since the value is exchanged and stored in legal tender, the market price when charging can be maintained even when the market value falls. This will serve as a kind of exchange where repurchase is possible when the value of the cryptocurrency decrease. In addition, using the same security system as the existing credit card, the UPAY E-wallet is used as a means of storing value optimized of preventing hacking, etc., and has the best security using KYC/AML.

In order to charge the UPAY E-wallet, a registered card must be issued, and when issued, it goes through the KYC/AML authentication process. This builds a safe payment platform by preventing the UPAY E-wallet from becoming involved in a crime related problem.

UPAY E-wallets are used by charging cryptocurrency. The method of use is the same as the existing general check cards. In the future, it will be possible to charge a UPAY E-wallet through all cryptocurrency, but in the beginning, only UPAY tokens can be charged to stabilize the UPAY platform. After charging a certain amount on the UPAY E-wallet with UPAY token, you can immediately use the convenient money transfer and legal tender withdrawal service within the range of charged legal tender, and when the legal system maintenance is completed, the franchise will also be able to use it immediately.

When a customer payment transaction occurs on the UPAY platform, a settlement operator immediately sells the cryptocurrency to the exchange. The legal tender obtained through the sold cryptocurrency is stored in the deposit account of settlement operator.

When the customer uses simple remittance, withdrawal, or using the franchise store later, the settlement of the usage fee provides the legal tender present in the deposit account, all of these processes proved transparency that can be checked at any time.

Currently, only UPAY tokens can be used to charge UPAY E-wallets, but all cryptocurrency will be able to be charged. Charging and using legal tender and foreigner credit cards are currently implemented and are being used in some franchises.

In addition, by making it possible to purchase other cryptocurrency through a UPAY E-wallet, it will be a medium that connects not only cryptocurrency and the real economy, but also all cryptocurrency.