Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with 8PAY 3 December, 2021. This guest star,
- Ben S — CEO Of 8PAY
I’m Ben, CEO and Co-founder of 8PAY, excited to explain you more about our project.
What’s 8Pay? Can you provide a simple description?
8PAY is a multi chain decentralised payment protocol enabling several type of billing models. We allow customers to use their crypto wallet like a normal debit card, automatising the billing for both merchants and customers.
What triggers you to launch 8Pay? What are some of the real-world problems/pain points that 8Pay aims to solve?
We started to use crypto several years ago and quickly noticed that it was impossible to subscribe for services in crypto like you would in traditional finance. That’s when we decided to create 8PAY, to enable everyone to use crypto directly from their wallet and have a smooth payment experience.
Could you please give a brief intro of 8Pay salient features? What solutions are offered?
8PAY supports several billing models, enabling merchants and customers to use crypto for any occasion, retaining their private key and custody of funds, while, at the same time, automatising recurring billing. In addition to that 8PAY support scheduled payments, so all the company paying recurring salary or people transferring tokens every month to the same address, can setup a scheduled payment and 8pay smart contracts will automatically execute the transfer every time the payment is due.
Let’s discussion about tokenomics & use-cases $8PAY token?
8PAY token can be used to access higher Tier and get discounted fees, it’s an essential part of the ecosystem because allows to fuel the gas wallet that will use 8PAY token to pay for the gas fees of automatic transactions like subscriptions charges or scheduled payments. All the token release have been completed and the tokenomics can be found here: https://8pay.network/deck_final.pdf
Can you share the 8Pay roadmap now? What are the next steps to be taken in the future?
Sure, 8PAY is live on BSC, audited by Certik, supporting all the type of payments. We released woocomerce plugin integration and already partnered with several projects. We are currently working to release automatic DCA on Pancake and integration with some major streaming service.
NodeJS ecosystem has an excellent module management and is a great way to integrate WEB3 so the SDK it’s a quick integration for merchants who need to manage subscriber and billings in a more advanced way. It’s also possible to do it directly from UI thanks to the autobiller feature.
So far I’ve seen 8Pay support a variety of BEP-20 tokens. But, in the future will it expand to the MATIC network, SOLANA or other chains? Are you planning to build different chain integrations to expand the scope of tokens supported by your platform?
Of course, 8PAY will be a multi chain payment protocol. We are going to scale on Polygon and Solana in 2022, increasing 8PAY exposure and ecosystem. We already received great feedbacks from their communities so we are very excited about that.
8Pay have four types of billing templates that can be shared with customers or integrated into websites using buttons, short URLs, QR codes. Can you tell us a little more about these four billing models? Can you present it? Do users choose the models or does 8Pay implement it?
Yes, in addition to one shot payments we have:
Fixed Recurring are subscriptions with a fixed amount and a fixed time, ex Netflix
Variable recurring is a subscription that can vary in time but also in the amount, ex hosting providers.
On demand payments are made to pre approved merchants in this way you can request the service in 1 click, ex Uber.
The billing models are selected by the merchant and the customer can easily approve them in 2 clicks.
I would like to know the partnerships that 8Pay currently has. Which partners does 8Pay have? What benefits does 8Pay get from partners and what does 8Pay provide to their partners? And what are benefits partnership 8Pay for investors/holders?
We are very proud of our partnership with Alice for Children where you can donate USDT on BSC through 8PAY: https://8pay.aliceforchildren.it/
We are also live with https://rawwar.ch/, the first real life game merging metaverse and nft. We have several partnerships on our channel for everyone who’d like more info and many others coming soon.
How important is the community to you? and How can we collaborate or help you for the development of the project??
The community can contribute in a major way to our project trying it out and giving constructive feedbacks, using 8PAY to send and receive payments in the crypto space having them automatically organised, spreading the vision of the project and bringing more awareness to their friends and community.
Is your project is fully decentralized?Also, is there any possibility of centralization in the future?
yes it’s fully decentralized and in the future it will become even more decentralized thanks to the higher exposure and the introduction of a governance for future decisions.
Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
we are a global projects. Rather than focusing on specific geos our team is focused on integrating merchants on crypto friendly categories such as, ecommerce, saas, online tools, online game.
Are you planning to promote the $8PAY project in a country/region where English is not good?? Do you have a local community for them to better understand your project???
Our official channel is english only but we have many supporters who started unoffical channels in their local language and the feedback of the community has been great so far.
What is the most ambitious goal of your project? Could share with us any Upcoming Updates?
Our end goal is making 8PAY a major player in the crypto payment space, introduce several integrations with all the main platform like Shopify and many others, keeping decentralization a main value for our vision.
NFT is not just a Trend! It is Going to Rule this Decade and innovation Has just Started. So, with NFT what is your Future plan??
Probably a P2P NFT checkout allowing people to safely buy and sell NFT directly with other people without the need of a centralized NFT marketplace. More info on that will be released in the following weeks ;)
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about 8PAY.
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