Trade, commerce, and the entire value exchange system are no longer restricted to a single country’s borders. Businesses these days try to reach a worldwide audience by utilizing technology. Despite businesses’ (small and large) efforts to tap into the potential of borderless transactions, they have faced a number of obstacles, the most notable of which are the exorbitant transaction fees charged by traditional banks and fintech, as well as the unfavorable fluctuations in the value of national currencies.
As a workaround, IvoryPay strives to assist businesses, merchants, and creators in maximizing profits by providing an alternate payment method. IvoryPay is an all-in-one payment infrastructure built on the Solana blockchain to help online businesses develop faster. The infrastructure was created to help enterprises to accept bitcoin payments from clients all over the world.
Businesses in emerging markets can use IvoryPay to lower transaction costs, speed up transaction processing and payment confirmation, and accept payments in stable currencies.
The IvoryPay ecosystem is made up of three components: the Ivorypay payment gateway, the NFT Storefront, and the IVRY token. The payment gateway architecture enables online businesses to accept payment in stablecoins and the IVRY token allows clients to pay in the most convenient way possible.
QR codes, check-out connections, payment links, and buttons are all options for IvoryPay businesses. Digital creators and enterprises will be able to better monetize and diversify their revenue streams thanks to the NFT Storefront. Creators can pick from pre-made templates to quickly set up their storefront and get it up and running, with an integrated payment system that allows them to sell NFTs without interruption. The IVRY token, which is the project’s native cryptocurrency, will be utilized as a medium of exchange between users and merchants, as well as for staking.
Oluwatobi Ajayi and Ope Akinremi, who are also Co-founders of Uptrend Africa, one of the largest crypto marketing firms in Africa advocating grassroots cryptocurrency adoption, devised the idea for IvoryPay as an alternate form of payment facilitation. Oluwatobi, who has spent the last few years working in the crypto/alternative payment space, believes that “global businesses have reached a point where trade barriers should be non-existent and payment solutions should present businesses with multiple options with the end goal of simplifying payment processes and enhancing user experience without the need to break a sweat or empty your pocket in the process.
Ope further added that “consumers are the backbone of the global economy and it is the foremost responsibility of all forward-thinking businesses to be in tune with the demands of their consumers. Thinking forward, in this case, would imply offering users the means to make payment in the manner they find most convenient, and trendy.”
It’s only a matter of time before Ivorypay unveils its comprehensive payment infrastructure, which is now in development. The project has the potential to transform online enterprises in emerging nations and global trade in general.