GoByte Network, a Malaysia-based open source project, has released a free service that will allow merchants to accept cryptocurrencies at millions of outlets around the world. The platform provides online businesses with a convenient platform for sending and receiving commercial payments.
The product, called GoByte Pay, can be integrated into E-Commerce solutions, used as a gateway for receiving and processing cryptocurrency payments, and even serve as a convenient tool for sending invoices to individuals and businesses.
Integrating GoByte Pay at commercial sites will be available to companies free of cost and GoByte only receives a small fee for conducting and verifying payments.
Unlike its competitors, GoByte created not just a one-option tool, but a 6-in-1 service that can immediately solve common challenges encountered by businesses. GoByte Pay assists with tracking transactions between clients, issuing and integrating payments, and invoicing and collections for accounting purposes. Additionally, users can adapt each function to suit their individual or organizational needs.
The platform is synchronized with mobile devices and allows for the integration of functionality for payments directly on a website. A new addition to the wallet allows for the creation of invoices that can be sent to clients and payments can be easily directed to pre-designated wallets where both the sender and the recipient can track the transaction. This feature is ideal for consultants, other professionals and anyone who accepts cryptocurrency payments for their services or goods.
Currently, merchants can be charged up to 3 percent or even more for a single transaction when using existing solutions like Visa, MasterCard, PayPal, Coinbase or BitPay. Merchants using GoByte Pay can reduce this cost to zero when they operate a masternode on the network that helps with transaction confirmations and the security of payments. Those who don’t wish to operate a GoByte masternodes, will only be charged a nominal transaction fee.
This innovative solution can be valuable for owners of online stores as a greater number of potential buyers will be able to pay not only in “traditional” methods, but also with cryptocurrency, not paying high fees or waiting for transactions to complete. GoByte Pay InstantSend solution reduces the wait time to 1-2 seconds. Funds are immediately available to the merchant upon completion of the transaction.
Businesses will be able to accept cryptocurrency payments for any services or goods compliant with the vendor. Soon the team plans to integrate BTC, LTC, and other popular coins to make the gateway more useful for a wider audience.
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