RENCAP PROJECT (ICO 2018)-THE B2B AND B2C CRYPTO PAYMENT SOLUTION

With advancement in technology, the world is taking its step towards the world of digitization at a fast pace. When paper notes and currencies used to be the only option for payment and only transaction possible was through banks, someone came up with an idea of online payment solutions and net banking systems. These payments methods consisted of centralized payment gateways where you needed to put in your information like your account details and other personal details and the transaction became just a matter of minutes.

But as they say, everything comes with a price. These payment gateway solutions had loopholes and there were many cases of frauds and deceits regarding people’s hard earned money. The system obviously had loopholes. Many hackers took advantage of these loopholes for their gain and traced the path of money that is being transacted and robbed people off of their money.

Disadvantages of an online banking systems

These regular payment gateways and online banking system had other disadvantages too.

Frequent time out sessions

Risky payments

High transfer fees

Involvement of third party

Misuse of personal
information

All these disadvantages made people trust and invest less into this system in spite of the convenience they provided.

But within the last few years, we have come several steps ahead and have succeeded in finding solution to these problems. It all started with the introduction of the concept of virtual money i.e. cryptocurrencies in the market. The first cryptocurrency was introduced in 2009 called Bitcoin.

Cryptocurrencies are basically tokens that have some financial value attached to them and can be exchanged in place of digital currencies for payment, shopping and other matters. Cryptocurrencies were introduced to take over the market of digital currencies.

To solve the problems metioned above, I will be presenting you a particular undisputed project called: RENCAP

WHAT IS RENCAP?

RenCap Is Both A B2B And B2C Decentralized Payment Solution.

ABOUT RENCAP

RenCap’s RNP will become the cheapest and most convenient Payment Solution. RNP can be used in B2B, B2C and C2C Payment or Transfer.

RNP can be used in B2B transaction which will reduce International transfer fees, Currency Conversion charges. Recipient business does not have to create any exchange account, he can convert RNP into local currency via RenCap’s BuyBack scheme which happens all year round. This simplify the process and at the same time making the transfer cheaper and much faster.

RNP can be used in B2C transactions in form of usual QR Code and Mobile Wallet payment. RNP will also have its own custom mobile wallet, Debit Cards and Payment Terminals to be placed in partner stores whom will accept RNP Payments.
Merchants can save up to 3% in processing fee when accepting RNP Payments. Merchants can also opt to receive payments in local currency when accepting RNP Payments as our terminal will lock the conversion rate upon swiping.
Consumers enjoy the ability to use RNP in their daily lives or keep in their wallet as investments when not needed. They also hold their own coins and are not subjected to traditional annual or card fees or currency conversion fees.

RNP can be used in C2C transaction which will eliminate remittance fees or transfer fees or currency conversion fees. When one remit to another, recipient also do not have to register and sell to exchange. He/She can simply sell to RenCap to convert to local currency which will quicken the process yet eliminating charges and fees.

RenCap has a first batch of businesses in Asia which will adopt RNP as their B2B financial transaction currency.

RNP will be the cheapest, fastest and Decentralized Payment Solution where everyone hold their own asset but at the same time, applying cryptocurrency into Actual daily lives.

ROADMAP

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