Technology has brought into the transparent, secure and decentralized source of currency where the cryptocurrency components are opening the floodgates for making it incredibly innovative for the solutions of the business.
It has made the system feasible enough that Fuzex blockchain network is striving through a team forming a secure, reliable, user-friendly and merchant-friendly currency payment system improvising newer technologies. It has been setting up a Fuzex setup and transaction flow based on user network transaction flow and Fuzex Exchange transaction flow.
Setup for User and Network
The Fuzex setup and transaction flow at first deals with the user and network-based. It makes a setup for the User by the downloads of Fuzex Wallet which is the mobile application program and this will be created through an account joining the Fuzex Exchange and an order for the Fuzex Card.
After that, the user will transfer the desired amount to the cryptocurrencies as per the command for the cardholder. This will be done through the external wallet to the Fuzex Wallet. Lastly, the User will receive and activate Fuzex Card by the use of the app deriving from the Fuzex Wallet.
Transaction Flow for User and Network
Then the transaction flow appears to deal with the Fuzex setup. For this, the user has to make a purchase the cryptocurrency by making a selection to their choices from the Fuzex Card. This will need the usage of the built-in buttons on the card to make sure the transaction is working.
After that, the user will have a notification with a view of the selected balance of cryptocurrency having the respective fiat currency value. This will be given in real time by maintaining the exchange rates on the Fuzex Card. This will make sure that the selected portion of the cryptocurrency has been confirmed by the user and it is holding down to the designated button by making the perfect selection of information.
This will be sent directly to the Fuzex Exchange eventually. Then the user should hand over their Fuzex Card to the Merchant insert or swipe. At this step, the Merchant will need to POS the terminal by sending a request to the relevant switch to the company or issuer due to the verification process. This will be done through the User and it will authorize the payment system through the EMV payment network for VISA, MasterCard etc.
It will have the integration with the Fuzex Exchange for the issuer to check the User account for a sufficient amount of fiat currencies equivalent to the cryptocurrency amount through the Fuzex Exchange. It will be sufficient for authorization of issuer to make payment with simultaneous locks. This will spend a certain amount of cryptocurrency from the account of the user and if there will be insufficient amount then the issuer will deny the payment.
Next, the merchant will receive authorization for making payment and in this way, the purchase will be complete. The user will receive a courtesy of the purchase summery on their Fuzex Wallet app. For this, the user should have the approval for the transactions on the Fuzex Card as soon as the cumulative of expenditure surpasses to $300 and it should be limited and adjusted. This needs to finalize the transfer of cryptocurrency payment forms their user account to the Fuzex Exchange.
Fuzex is making up the transaction system flexible enough for the users and adopting all the technologies ensuring security and trust.
Website: https://fuzex.co/
Telegram : https://t.me/FuzeX
Whitepaper : https://fuzex.co/wp-content/uploads/2018/01/FuzeX_whitepaper.pdf