Decentralization of payments system sets off the primary payments and mutual claims from other payments for specified short periods. The system combines credit and clearing operations. It is a means of substituting non cash operations with cash operations. It concentrates all payments for incoming commodity material values or services in the bank in special liability and assets accounts that suit the users of the system.
Credit allocation completes decentralization of payment and pays off unaccounted for values in operation. The system ensures acceleration of funds turnovers to settle accounts and to strengthen financial control under certain conditions. The payment system depends on the nature of users and their financial relationship. It obtains credit on time for utilizing operations and completing payment.
Block-chain technology is the best-known cryptocurrency that is fast spreading into the mainstream. It handles money transactions similar to spreadsheets. Whenever someones transacts, the system automatically updates the ledgers with new information. Block-chain technology eliminates the need to deal with merchant processors or financial institutions. Instead, you hook directly into the block-chain alternative which handles all your payment processing.
The mBeaconPay and mBeaconSAM payment acceptance systems accept tokens and cryptocurrencies as payment methods. Integrating mBeaconPay or mBeaconSAM with your current payment acceptance system enables you to reach people who are using cryptocurrencies. The block-chain technology takes care of currency conversion and everything else. The system processes cryptocurrencies like other payments.
The block-chain ledger facilitates and verifies transactions and is a digital public ledger proof of all activities on your system. Participants in the network can access the shared data anonymously and view transactions. However, decentralized network takes care of security and record of digital assets without leaving any weak spots in the system that someone can exploit to steal or alter information.
To learn more about our decentralized payment solution contact us.