Cardano blockchain ecosystem allows people to build smart contracts, create decentralized applications and protocols, and instantly send and receive funds with minimal fees. Along with these useful features, Cardano also announces some payment projects to support them. This article will share an overview of five Cardano payment projects, which includes COTI, Metaps, Revuto, AdaPay and Bidali.
These projects below use Blockchain technology for money transfers. This includes peer-to-peer payments, point-of-sale systems for shops, international transfers, and currency exchange.
In an era of “everything digital” currencies remains outdated. Currently, it’s cheaper to pay in cash than to use banks, PayPal, Alipay and the like.COTI is the first enterprise-grade fintech platform that empowers organizations to build their own payment solution and digitize any currency to save time and money.
Blockchain isn’t yet a solution. Instability, complexity and lack of scalability keep it from the masses. There is a strong need for a robust payment system that is as seamless and scalable as traditional payments while being as cost-effective and secure as blockchain.
- Scalability. COTI can process over 100,000 TPS, compared to 25,000 TPS in traditional payment systems and up to 20 TPS in common blockchain protocols.
- Simplicity. COTI’s user and merchant-facing tools are seamless and extremely easy to use.
- Buyer-seller protections. COTI provides the first-ever dispute resolution system to safeguard users against errors, fraud and counterparty abuse.
- Cost-effectiveness. COTI cuts out intermediaries and eliminates the need for costly mining, which drastically reduces costs and energy consumption.
- Price stability. COTI is creating price stability technology, which is necessary for the mass adoption of blockchain for payments.
- Instantaneity. COTI’s technology makes transactions, P2P payments and remittances instant, instead of taking hours or days to clear.
- Security. COTI’s distributed ledger technology eliminates a single point of failure for enhanced security.
Metaps worked together with EMURGO on the world’s first cryptocurrency card for the ADA cryptocurrency. The card enables users to spend their ADA at over 30,000 offline merchants in South Korea including well-known convenience stores such as Emart24. Users have the option of selecting a mobile gift card or a physical gift card that works easily with mobile app recharge capabilities.
Metaps Plus is a mobile fintech platform built in 2009. It operates the domestic first-ranked app marketing reward platform NAS(Trademark registration 4012646300000) and has 300,000 DAU and runs about 100 million app download campaigns every year.
In January 2016, it acquired the mobile commerce company ‘Smartcon’ and became the largest mobile fintech company in Korea. It operates the largest mobile voucher platform in Korea and partners with about 7,000 merchants in Korea. It is raising. Smartcon payment alliance boasts differentiated competitiveness with more than 1,000 independent merchants.
Metaps Plus had received over 200 pre-orders for the physical ADA CRYPTO CARD which is available in denominations of 100 ADA and 1,000 ADA units for use at a wide selection of merchants in South Korea.
Users can easily log onto Metaps Plus CRYPTO CARD website and go through KYC (Know Your Customer) process to buy the ADA CRYPTO CARD at the fixed rate offered to users from Upxide.com exchange and use it in QR code format.
Revuto is an active subscription management dApp built on Cardano to help people save money on their subscriptions. In May, through ICO, the company raised $10M in minutes and has received 3 million early sign-ups for the app until today.
Starting from August, more than 300k users worldwide registered with the app making Revuto the fastest growing fintech startup in the world. As a result, Revuto won the award for the fastest-growing consumer product at the recent World Blockchain Summit in Dubai.
At the moment, the company is preparing to launch its Virtual Debit Cards to manage subscription seasonality and allow users to pay for their subscriptions with Cardano native tokens.
Later in the year, Revuto will introduce Defi services to help people pay for their subscriptions less than they would pay them with FIAT money. In that regard, one of the most significant announcements will be the launch of liquidity pools for micro-lending and borrowing.
The setup will allow Revuto users to provide liquidity to other Revuto users and earn yield. In contrast, others will be allowed to borrow funds from those pools to pay for their subscriptions even if they don’t have the funds to do so.
Most importantly, the ecosystem and tokenomics are designed around the real-world use case that allows Revuto’s cutting-edge blockchain product to stay sustainable regardless of crypto market conditions.
The ADA Pay system comes with a full suite of payment gateway, donations gateway and merchant back-office CRM.
ADA Pay will be embedded in websites, mobile devices, and eventually in Point of Sale systems. Merchants will also be able to accept a payment with ADA and then stake it immediately for staking rewards, creating a positive feedback loop.
Bidali is a new digital commerce experience that helps you keep more of your money. Businesses that use Bidali can increase sales, save on fees, get paid faster, and eliminate fraud. The firm completely overhauled the payment experience by making it simple, free, and rewarding.
- Get paid to shop. Shop at brands you already know and love and get instant cash back.
- Send and receive money for free. Buy gift cards for others or instantly send them Bidali Cash 2 and let them choose.
- Get exclusive offers. Stack your rewards by combining cash back with exclusive offers from amazing brands.
How does it work
- Download the Bidali app, create your account, and top up your balance in just a few taps. Bidali encrypt your data right on your device so only you can access your funds and you are in complete control.
- Top up your Bidali Account balance and buy gift cards from thousands of local and international brands. After a successful purchase you’ll instantly earn Bidali Cash † back.
- Use your digital gift cards to pay online or in-store, or send them to a friend. You can always top up with additional gift cards or other payment methods. Such a great way to budget and save!
- Stretch your money further and use your earned Bidali Cash to buy more gift cards, send to a friend, or pay in store and online where Bidali is accepted. All for free. No catches or hidden fees.
- Stack your savings by getting access to exclusive offers from local and international brands. Businesses are able to immediately send you credit that you can redeem alongside your gift cards and Bidali Cash. Win, win, win!
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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