In this document we cover the main aspects of how Paytomat works and an overview of what we think it takes to make transactional cryptos be used for real world payments.
Paytomat is a set of blockchain software solutions, already used by more than several hundreds Merchants to accept crypto in cafes, restaurants, beauty salons etc. Our product integrates into existing point-of-sale systems or offers a standalone solution without the need to purchase additional hardware. We hedge the risks, increase speed and streamline payments in multiple cryptocurrencies.
For the Сustomer, it’s as easy as scanning a QR code with our own or any other compatible crypto wallet, and pay in one of the 15+ cryptocurrencies currently supported by Paytomat.For the Merchant, the enrollment is free and is done either via their POS (updating the software) or installing the Merchant App provided by Paytomat.
The in-house developed proprietary system is now being migrated to EOS and includes “Paytomat Core” in the form of an EOS smart contract and services responsible for keeping Merchant accounts and balances, Merchant interfaces (Merchant Web Panel, Merchant App, POS integrations and e-commerce plugins) and consumer apps (non-custodial cryptocurrency wallets).
The technological platform focuses on security, scalability, performance and lowest possible cost. Ideologically, Paytomat focuses on bridging the decentralized financial world with retail, ensuring our non-competetive position with transactional cryptocurrencies and offering an open ecosystem for everyone to benefit from – Relays, Gateways, Regional Leaders, Customers and Merchants themselves.
A nascent decentralized payment system can only succeed with local support – this is what Paytomat Regional Leaders are for. Companies or individuals who oversee the local Gateways and Merchant enrollments, and earn money for doing so.
Our in-house team brings together crypto-evangelists, math scientists and security experts. We have led the software development businesses for over 10 years and our company is now 50+ people strongWhitepaper_en