A Shopper’s Dream: Earn Rewards by Completing Payments

The global eCommerce market surged by more than 25% in sales amidst the pandemic, putting its total value at $4.92 trillion. The lion’s share of that goes to buy now, pay later (BNPL) facilities. With the rising popularity of digital wallets and their dominance in the eCommerce sector, the BNPL market is expected to grow at an astonishing rate and reach $5.2 trillion in market cap by 2026.

While it is hard not to consider a market worth trillions, you should also have the right tools to execute the BNPL schemes. A platform created by merging BNPL and crypto-to-fiat markets could potentially be the ultimate solution to give people more buying power while still helping them with fiscal responsibility.

BNPL Combined with DeFi Could Revolutionize Online Shopping 

Shoppers want access to a lot of things online, but when they use ordinary credit cards, they face multiple issues including high interest rates and diminished buying power. In addition to that, the terms are not flexible to the customer, and they are charged extra if they make late payments while their credit score also depreciates. 

It is possible to solve all of this if BNPL providers use smart contract technology and deploy a flexible and shopper-oriented protocol. With a DeFi protocol, it is possible to not only make life easier for online shoppers but also reward them for completing their repayments on time. Unlike banks, blockchain protocols do not have any hard-to-predict late payment fees, making them more transparent. 

By using the crypto-to-fiat model, merchants gain access to a broader market and can streamline their entire business. While consumers avoid the complexity of the payment process by using a third-party payment processor. 

Even though DeFi does change the landscape for uncollateralized loans, it is still difficult for online shoppers to adapt to new payment methods. However it is possible to make that transition when there is a bonus for the end-users, but sadly, not many eCommerce platforms adopt this new ‘Buy Now Pay Later’ crypto integration. 

Capitalizing on the market demand and lack of existing platforms, @Pay was launched to fill the gap by integrating crypto wallets, building a separate marketplace for merchants, and, most importantly- to reward shoppers to increase their BNPL spending limit. 

@Pay: First-Ever BNPL DeFi Protocol that Incentivizes Shoppers 

Based in Sydney, Australia, @Pay has created a one-of-a-kind and the first DeFi protocol that offers BNPL services to eCommerce and physical stores using crypto and fiat currencies. Users can use the shopping platform to increase buying power without paying any interest or late fees.

Along with cost savings, @Pay users can also use their crypto assets to make direct purchases from their favorite eCommerce stores with a minimum credit line of $250. They will also be granted to split repayments for up to three months. This gives shoppers more time to complete their payments and never miss on extra rewards. It is also important to note that @Pay charges a fixed fee of $6 for account keeping and management every month until the repayment is complete. 

The governance token that fuels the @Pay ecosystem helps users raise their credit limits. Users earn these tokens by spending through the @Pay ecosystem. For example, with two @Pay tokens, shoppers gain an extra $150 of purchasing power, and if they accumulate as many as 20 tokens, their credit limit will reach $1200. 

The @Pay ecosystem also gives holders of stablecoins the ability to stake their approved stable coins to the @Pay protocol for a fixed term earning the staker a yield. 

The @Pay shopping platform leverages Chainlink’s Oracle Network to make payment processes more appealing to any merchant. If they are reluctant to accept cryptocurrencies, they can use the protocol interface to convert crypto to fiat directly. This ultimately enhances the user experience and makes the platform more versatile for merchants and users alike. 

Website:  www.atpay.io

Twitter:    @atpayio

Instagram: @atpay.io

LinkedIn: @pay 

Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice