Blockchain

Novel payment solution provides world’s first crypto use case for charity subscriptions

Functionality for recurring payments showcases charitable donations as a real-world use case supporting the mainstream adoption of cryptocurrencies.

Digital currencies have been on their way to taking their place as an alternative to traditional payments for a while now. But, one thing is stopping them. For these assets to become mainstream, they first need to provide real value to their users by meeting, at a minimum, the existing capabilities traditional currencies exhibit in the world today, and 8Pay is working exactly on that. 

Indeed, cryptocurrencies have already proven their benefit in transferring funds from point A to point B. However, a few gaps still exist that may hinder their common use. Among them, being fixed and variable recurring payments, in addition to one-off transactions.

Currently, this feature is common for traditional currencies, with use cases that extend on both the business-to-business (B2B) and business-to-consumer (B2C) sides. This is true in any instance that punctuality is key or a subscription-based model is used.

8Pay aims to address this gap in the marketplace with a solution that enables effortless crypto payments, thereby opening up the community to a world of endless possibilities. The team has since released an innovative payment gateway that will effectively transform into a solution that users can leverage for virtually any occasion, whether for merchants to automatically pay monthly subscription fees on a regular basis, maintaining on-time employee payments or automating charitable contributions donations.

Regardless of the use, the 8Pay platform enables users to incur limitless transactions on a user interface experience that meets the standard of existing consumer expectations. To consider the implications of this offering, the team is looking to one of the most noble use cases – charity. 

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Taking a charitable stance

Looking at the last decade alone, consumer buying habits have shifted to a subscription-based offering, with companies like Netflix leading the charge. Charities have proven to be no different, also moving towards a similar model, with initial success transpiring as non-government organizations encourage larger donations by collecting them in smaller amounts. The regular occurrence of these payments also goes to ensure do-good initiatives are receiving more reliable funding. While this has been a popular model with credit cards, many have since turned to cryptocurrency to facilitate these payments due to the reduction in overhead, enabling a greater portion of the donated funds to be put towards the cause. 

With cryptocurrency, charities can enable these same regular subscription payments through 8Pay. The 8Pay team has since begun working with Charity World, a partnership that is enabling cryptocurrency to be donated directly from a user’s Metamask wallet on the Binance Smart chain (BSC). Additionally, the team has also begun working with the non-profit organization, AliceForchildren. This NGO has continued to operate in Kenya since 2006, developing projects to support children and women.

By providing assistance to the charity world, the team believes it will become increasingly possible to improve many lives, all thanks to the world of cryptocurrencies’ capabilities.

More insights on 8pay here

8Pay, functionality includes an Autobiller and Scheduled Payment to aid in the setup and scheduling of as many recurring payments as they need and organize them with names. Payments can also be set to paused, activated or deleted at any time. Presently, users can take advantage of a range of tokens, including Bitcoin (BTC), Ethereum (ETH), Pancakeswap (CAKE) and Tether (USDT) with more cryptocurrencies expected to be added soon. Added benefits will also be made available to users through a tiered program that will enable discounted and even free transactions in some cases.

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Reaching out to other big merchants

The platform indicates this is only one of the use cases they are exploring with their application’s capabilities. With growing e-commerce sales becoming an industry force, 8Pay is looking to negotiate with various merchants who will then have the opportunity to integrate 8Pay’s services. Subsequently, the team has made it their mission to continue working with big merchants, take on additional integrations, and participate in a go-live on the Solana blockchain, all in the coming year.

With new features being released as development, 8Pay’s dApp utility is continuing to increase in parallel, making the solution more user-friendly. The team’s intent is to continue expanding the adoption of 8Pay and build momentum towards the mass adoption of cryptocurrency payments in general.

Learn more about 8Pay

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