4.
Not necessarily.
Some platforms focus solely on payments within a specific cryptocurrency. However, a decentralized payment gateway, like ErosCoin for example, facilitates the process of sending and receiving multiple cryptocurrencies and provides a much more complete ecosystem that goes beyond just payments.
Apart from smart contracts, there are a number of decentralized applications available on a Blockchain-based platform.
In-chat payment features make it convenient for users to send payments to each other by simply sending a text message. While chatting, you can enter an amount in the chat system. Once the counterparty, friend, family or business, approves the request, a smart contract verifies the authenticity, and the sum is instantly delivered to your account.
Similarly, peer-to-peer, or P2P mass payments are a free, fast and frictionless method of transferring currency between two parties. Due to reduced costs, it’s still feasible when looking to transfer small amounts around the globe.
Mobile wallets with remote accessibility and an easy to use interface, make it simple to send, receive and store cryptocurrencies without the need for a traditional bank account. As more and more people depend on smartphones to get through their daily lives, a mobile wallet application can be used to send money securely and instantly to any other smartphone with a valid Blockchain address via the decentralized network.
A secure web wallet application is also a possibility and will function in the same way for commercial and non-commercial transactions, whether it’s to accept payments, make donations or pay bills.
Mobile payment processing solutions can provide the flexibility and convenience of accepting credit card payments from anywhere in the world and enable further mobile payment integration.
Additional solutions that can be implemented on a Blockchain-based platform include product management, order management, and invoice management applications. Along with the payment gateway, this will serve as a one-stop shop for everything business owners need to run a successful eCommerce company, all under one roof.