Solutions
Mobile Payments
Multiple exchanges and investment platforms have released their own crypto cards which advertise with high rewards in their native token or other popular cryptocurrencies. Instead of offering blanket rewards, LedgePay users will be able to pick from a variety of rewards options, further personalizing their money management experience. We are also planning on further expanding and integrating LedgePay mobile payments in the future with the introduction of LedgePay PoS systems and business solutions.
Utility
Pay anywhere that accepts credit cards & NFC payments
Rewards Program
Cash Back
Wire & International Transfers
Enabling customers to send wire transfers is another crucial feature that will make the use of cryptocurrency more applicable to everyday life. By using the aforementioned liquidity, customers can choose to send funds to other bank accounts, directly from their LedgePay app. When a customer decides to fund a wire transfer with cryptocurrency, the selected holdings are exchanged for stable coins within the LedgePay ecosystem. The wire/bank transfer is then sent to the chosen recipient from one of the LedgePay bank accounts. This all happens in the background, making it feel like a regular bank transfer for the user.
Internationally, this function can work like current Web2 services such as FlyWire, which allow for cheaper international payments by having using locations and bank accounts across continental borders & trade unions. Nonetheless, a transaction with FlyWire still takes a few days to be finalized (when funded through bank transfers).
Utility
One Click Wallet To Bank Transfers
Transact money to any bank account directly from the app
Pay for bills
Cheaper and faster international
Escrx0w
Crypto payments are beautiful, especially in the future when users will be able to use LedgePay. As some of us know, one of the early uses of cryptocurrency was retain privacy when doing purchases. We see a lot of value in protecting the privacy of our users. This is exactly what LedgePay's Escrx0w will provide.
Escrx0w is a function that allows users to pay for services or send cryptocurrency safely. Basically a buyer & seller protection service. We aim to implement this via the use of 3 way multi-sig wallets.
How it works:
Buyer and Sellers agree on terms
They can choose to do so anonymously through the app to protect their privacy
Tangible results of a service can be added to the contract for the automatic release of funds upon completion of the terms. (e.g. company X pays market firm Y for social media growth: 10k new Instagram followers)
Buyer sends cryptocurrency to a LedgePay hosted wallet
Seller can see that the amount has been deposited (as cryptocurrency transactions are transparent)
After all parts of the agreement are fulfilled, LedgePay releases the funds to the seller
LedgePay acts as another layer of insurance for both, sellers and buyers
The verification process will be automated via AI long term
DigiCheques: Cheques Re-Imagined
Cheque Processing & DigiCheques Following the same model as above, LedgePay will enable customers to cash cheques. Additionally, we will introduce DigiCheques which are digital cheques that can be shared and issued via QR-codes or NFC sharing, because quite frankly, cheques are outdated.
Utility
Deposit checks directly into your wallet or LedgePay account
Issue DigiCheques from the app
P2P Payments
Services like PayPal and Venmo have changed the way we financially interact with friends and businesses, for a good reason. They are easy to use and help us avoid typing in endless account numbers. More so, the social nature of newer payment services has added a "fun" aspect to such transactions. Considering that these services have emerged from Web 2 innovation, it seems like a step in the wrong direction to have to copy and paste wallet ID's, write memo's and pick blockchains.
LedgePay users will be able to transfer assets to one another by using usernames, email addresses, phone numbers or any identification of their choice, still leaving it up them to remain anonymous behind a wallet address if they so choose.
Utility
Easy, cheap & fast transactions between friends & for small purchases.
LedgePay to 3rd Parties
Interconnectivity is crucial to the adoption of LedgePay and Web3 services as a whole. LedgePay will allow individuals to directly transfer money from their wallet or LedgePay account to users of third-party services like Venmo, CashApp & PayPal. As the bridge between Web 2 and Web 3, this will present itself as one of the biggest assets to onboarding and combining both of those communities. LedgePay will hold liquidity in accounts with the most popular providers, allowing us to transfer money on behalf of our users.
Utility
Pay for subscriptions like Netflix (without the need for a credit card)
Send money to friends outside of the LedgePay ecosystem easily
CashApp, PayPal, Venmo
Bill Pay
Additionally, customers will be able to pay for subscriptions or online purchases via a browser add-on. Long term, we see merchants integrating LedgePay via API for faster transactions and lower fees.
Utility
Less fees than credit card transactions
One-click payments from Wallet to Merchant
Pay anywhere online without needing a credit card or bank account.
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