Introducing &pay: the first pure payment service provider on Algorand blockchain
The first pure payment service provider that makes payments fast and simple, fully leveraging the Algorand blockchain.
Andpay.io (&pay) has just launched its beta version of the payment platform. Focussed on solving one of the biggest pain-points that PSP’s force on you: slowness of payouts and with lack of transparency.
Currently the &pay payment platform (beta) will first and foremost accommodate for consumer to consumer payment requests. The funds will get transferred between the sender and requester directly. &pay will validate the transactions to ensure you get notified once the payment has successfully been transferred. With future opportunities to trigger follow-up actions on basis of those payments. This means that &pay will not function as a middleman like all other PSP’s do, but only accommodate for payment requests leveraging the core Algorand blockchain technology.
Payments made simple
With the beta launch of its platform you’ll be able to create payment requests for the ALGO coin and share it via Whatsapp, Telegram or any other platform. Receivers can easily pay with their Algorand Wallet by scanning a QR code or tapping on a payment button if they happen to be mobile.
Later on features will be implemented to accommodate for API based transactions, so that it will be easier for others developers to create payments within their apps and let &pay care about the validation of it. This would then also open up direct integrations between &pay and large e-commerce software to connect directly with the Algorand blockchain and support all of the ASA’s and features out of the box.
&pay has chosen the Algorand blockchain given its solid technology and the backing of large corporations. Unlike Bitcoin, where it can take hours before a payment can be considered final. Algorand truly has a fast-paced environment where every transaction is finalised within less than 5 seconds, costs 0.001 ALGO per transaction and can scale up to 46.000 transactions per second in the future.
Soon &pay will integrate all the available features within the Algorand blockchain, starting with:
- ASA’s (including support for stable coins)
- Smart Contracts
- Integration with e-commerce software
- and many more improvements on the platform itself
This will make it easier for businesses, e-commerce & consumers to work directly with blockchain technology via a consumer, business and developer friendly interface.
Support &pay to keep building
We’re at the beginning of connecting many business and consumer applications with the Algorand blockchain for payment processing. We stand fully behind the progression and future of Algorand, which results in our single focus to only build our pure PSP on the Algorand blockchain.
If you’d like to support us (and try out &pay on the go), please take a moment to donate some ALGO:
- Donate 1 ALGO (⭐)
- Donate 5 ALGO (⭐⭐)
- Donate 10 ALGO (⭐⭐⭐)
- Donate 50 ALGO (⭐⭐⭐⭐)
- Donate 100 ALGO (⭐⭐⭐⭐⭐)
- Donate 500 ALGO (⭐⭐⭐⭐⭐⭐)
Every ALGO counts in breaking open the world of finance and to make it easy for everyone to run payments through blockchain technology. If you don’t have an ALGO to donate? Don’t worry, you could always share andpay.io (or this article) over social media to help us give a podium. Don’t forget to create your first payment request.
We very much thank you for your support and we’ll make sure to keep on providing updates here on andpay.medium.com.
Algorand is building the technology to power the Future of Finance (FutureFi), the convergence of traditional and decentralized models into a unified system that is inclusive, frictionless, and secure. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand developed a blockchain infrastructure that offers the interoperability and capacity to handle the volume of transactions needed for defi, financial institutions and governments to smoothly transition into FutureFi. The technology of choice for more than 700 global organizations, Algorand is enabling the simple creation of next generation financial products, protocols and exchange of value. For more information, visit www.algorand.com.
&pay is the first pure payment service provider build on top of the Algorand blockchain. With a clear focus on building a business & consumer focussed platform to accommodate and validate payments made on the blockchain. Making it easy for consumers to create single payment requests and get them paid instantly, and for businesses to build services on-top such as e-commerce, handling invoices or just as payment platform at the cashier. For more information, visit www.andpay.io/about/