The 8pay project is a groundbreaking payment protocol that aims to bridge the gap between fiat currency and cryptocurrencies. By leveraging automated smart contracts and a permissionless design, 8pay empowers crypto assets with enhanced functionality while maintaining the core principles of decentralization. The protocol enables seamless single, recurring and on-demand payments, making cryptocurrencies suitable for everyday transactions.
The adoption of cryptocurrencies by merchants and businesses has faced various challenges, including the absence of repeat payment options commonly found in traditional financial systems. 8pay addresses these issues by providing the same level of convenience without the need for custody of funds or compromising user privacy.
With 8pay, a wide range of services, from settling utility bills to ordering replenishment-based services, becomes easily payable with cryptocurrencies. Designed for both business-to-business (B2B) and business-to-consumer (B2C) applications, 8pay offers a user-friendly web and mobile app that facilitates payment management through smart contracts. The protocol supports stablecoins, the native 8PAY token, and many selected tokens, providing flexibility and compatibility.
One of the notable advantages of integrating 8pay's technology is its accessibility and user-friendliness. Merchants can effortlessly create and manage payments using the 8pay app, share payment links and buttons seamlessly, and connect with advanced features through API or SDK integration. Users, on the other hand, can set spending limits, authorize payments, all while retaining control over their personal information and funds. Additionally, users can lock 8PAY tokens in their wallet to benefit from a discount on transaction fees.