Introduction
Imagine a world where cryptocurrencies are accepted as means of payment for goods and services.
Imagine a world where you could be in the convenience of your home, order for goods and services online and conveniently pay for such goods or services in cryptocurrency with no transaction fees.
Imagine a world where cryptocurrency payment processing is done in real time and as fast as the traditional payment systems.
This is the kind of world that we are all hoping to live in. Where one can easily earn cryptocurrency and can also easily exchange such cryptocurrency for whatever goods or services one needs with no hassle. But this can only be achieved if the cryptocurrency payment processing system is made to be as fast or even faster than the traditional credit and debit cards payment processing systems offered by companies like master card.
There no doubt that crytocurrency is gaining ground on a daily basis and its awareness is spreading drastically. But so many people despite being aware of the crypto trend are not flowing with the crypto trend because it is yet to be fully integrated into the modern economy. How best can a currency be integrated into the modern economy order than for it to be easily accepted as payment for goods and service?
Making cryto to be generally accepted for payment of goods and services will create a general appeal for it and enhance its integintegration into everyday business transactions. Buying and selling is a normal part of every day life and a major part of the global economy. Imagine being able to exchange cryptocurrency for goods and services without having to spend so much time waiting for the transaction to be processed. This will greatly enhance the adoption of crypto by a majority of the general public and it will become a major part of the modern economy.
The Current Crypto Payment System
The current crypto payment system operated by some crypto companies is usually very slow and tajes a lot of time before a transaction can be processed and confirmed. And most customers don't have the patience to wait for such a time wasting payment processing system. This is one of the reasons why most retail merchants are reluctant to include crytocurrencies among their payment options. If a currency has to be integrated into the modern economy, it has to have a large user base, a fast exchange method and easily accessible to anyone that wants to use it.
Cryptocurrency already has some of these qualities. Its major drawback is the lengthy payment processing time and confirmation. If this drawback can be eliminated, crypto will have a general appeal and merchants all over the world will integrate cryptocurrencies into their payment terminals. This drawback in the crypto payment processing system is what GRAFT has come to solve.
What Is GRAFT?
GRAFT stands for; Global real-time authorizations and funds transfer. Itnis a decentralized global payment platform that supports a variety of payment and payout methods including cryptocurrencies and traditional credit cards and bank transfers.
The GRAFT platform will allow cryptocurrency payments yo be widely accepted by mainstream merchants and customers. With this innovation, retail merchants can easily integrate cryptocurrency payment options into their existing payment systems and extend their customers reach.
How Will GRAFT Achieve This Goal
Since most retail merchants already have a payment system in place, GRAFT designed its system in a form that existing business are already familiar with and can easily integrate into their existing system at no cost. GRAFT has created several apps that retail merchants can easily install into their payment terminals and start accepting cryptocurrency.
GRAFT has already been integrated on both verifone and Ingenico payment terminals, thus existing retail merchants will have no hassle integrating GRAFT into their payment terminals.
Real Time Authorization
GRAFT is developing its transaction processing to be as close to instant as possible. Confirmation of payment for products will be as fast as possible with no delay. Buyers can pay for products in any currency of their choice with no hassle and the merchants will receive settlement in the preferred currency.
This real time transaction processing will enable retailers to continue with their normal business practices while adding crypto support to their payment methods.
GRAFT's Products
GRAFT has created several Apps that are very friendly to multiple devices and can be used by both customers and merchants. Some of GRAFT's products include:
- GRAFT's mobile wallet App:
This is a multi-currency mobile wallet app. There's currently an Android and iOS version. This app makes it possible for crypto users to have access to several currencies without having to install multiple currency wallets into their devices.
- GRAFT crypto find App:
This app is used to find locations or merchants that accept cryptos. Also, with this app, merchants can be able to update their status if they have included cryptos in their payment options so users can be able to find them and patronize them.
- GRAFT mobile POS App:
This app allows merchants to accept cryptocurrency just like normal POS machines. Merchants can use their iOS/Android mobile devices to accept payments. Etc.
Benefits Of GRAFT To The Merchants, Customers And Crypto Industry
- It will enable the fast integration of cryptos into the modern economy.
- Merchants can be able to reach out to new customers and increase their revenue.
- Customers having cryptos can be able to exchange their cryptos for goods and services with no hassle.
- It will make more people embrace crypto which will result to a great boom in the crypto industry.
- Crypto payment processing will be faster and more secure.
- Merchants will pay less transaction fees when compared with the normal traditional payment methods
- Foreign transaction charges will be a thing of the past and there will be less need to convert cryptos to fiat currencies since the cryptos can be used directly to purchase goods or services. Etc.
GRAFT has long finished their ICO and has a functioning MainNet. This GRAFT initiative will cause a fast adoption and integration of crypto into the global economy.
for more information, visit any of the links below
graft2018
https://steemit.com/crypto/@originalworks/680-steem-sponsored-writing-contest-graft
Very good informational post. Now I know about GRAFT. Thx for sharing!
Thanks for finding the time to ho through it.
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Thanks for the info. I'll check it out
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