A Crypto Merchant Section on the Swirge Application: What you need to know
Traditional payment networks are built off system models in which users, or merchants, depend on a third party to secure and sustain the operations of the network. Over time, this system is flawed owing to several arising issues of fraud and financial losses. However, the rise of blockchain technology has paved the way for several innovative technologies, one of which is a decentralized payment network — which allows merchants to execute transactions without depending on third parties to secure the network.
Being built on the blockchain, Swirge network has taken a giant step to enable support for a decentralized and secure payment system that will facilitate the ease of transacting business deals for/with users on the platform, eliminating every form of third party involvement— thus securing your data, giving you privacy and absolute control of your finances and transactions.
Among our 50,000 userbases are traders with either virtual or physical stores, and sometimes both, with massive social media presence on the platform. Now, Swirge developed a payment system operationally referred to as the “merchant payment” that will make it easier for these users to receive and send payments following every business deal, eliminating interference from third parties.
Merchants using the platform for their business transactions have sole access to their private keys. And this makes it difficult for their accounts to be hijacked or blocked by third-party elements. Traders can transact with stable crypto coins such as USDT, BUSD, and more using Pay with Swirge or Swirge Pay on our website or mobile application. Accepting stable coins eliminates the need to convert crypto tokens into highly volatile and unstable fiat currencies, thus maintaining the value of your money. However, there is an alternative functionality that allows users to convert coins into their local currencies, as the need may be.
The merchant payment platform has been designed with an amazing user interface that affords our users a seamless and personalized experience on the platform. And, Swirge has also enabled an open-sourced API architecture to accommodate intending users outside the Swirge network that wishes to install the application on their mobile devices. This implies that such users may simply download and install the app, and then create an account with Pay with Swirge or Swirge pay to start performing transactions using the merchant payment section of the Swirge network.
The merchant payment operates similarly to a Point of Sale (POS) system. And traders can perform instant transactions at the point of every business transaction by using the payment system on the platform. For a successful two-way transaction, both parties need to create accounts with Swirge on the merchant payment section to access the payment system platform.
Here is a step-by-step guide on how to use the Swirge merchant feature:
First, log in to the Swirge platform using your details. Then, click on the profile icon to display the profile interface. Next, click on the merchant icon to access the user interface containing the New invoice, Scan QR code, and View History options. The New Invoice option allows you to input the buyer’s username and choose a payment method. When inputting the buyer’s username, the app automatically queries the database to find the buyer on Swirge network. And, by selecting the payment method, you can choose the means of issuing payment for the transaction, which includes a host of options such as Ethereum Token, Cardano Token, Trust wallet, among others. Next, you can proceed with your transaction by adding your purchase item. Here comes an interface to input details of the transactions to be made, which includes details of goods/services purchased, narration, or amount to be paid, and currency. After adding the item, your transaction will be processed.
Through the History option, you can have an overview of your transactions or choose to view transactions within a selected number of days.
To detect fraud and mitigate financial losses using the platform, Swirge enabled support for a “Quick Response Code” (QR code) which is activated whenever a transaction process is initiated — which scans the details of the business inventory. Operationally, when such a user initiates the transaction using the payment system, following an endorsement after the QR code scans through the details of the business inventory, the transaction will be successful and initiated across both trading parties. The recipient will be credited appropriately with the requested amount using the select crypto token available in the sender’s e-wallet.
The crypto merchant platform now available on the Swirge network is cheaper, transparent, reliable, and secured from hacks. With this thrilling feature, we are disrupting the financial industry and handing over powers to where it truly belongs — which is in your hands. Hence, you gain absolute control of your money. Where else would you rather want to perform your financial transactions?
