Micropayment volumes are increasing all over the world. Rapidly increasing consumer and P2P payments are driving the global growth of both international and regional payment services.
If developed countries gain traction every year, the population of other regions of the planet, such as Africa, Asia and Latin America, is just becoming more active in this segment of the market economy.
In the beginning of 2020, more than a third of the world’s internet users have used micropayments within a month. At the same time, the highest rates of use were observed in the Asia-Pacific region, especially in Thailand and China. The Middle East and Africa occupied last places.
Goods, services, games, etc. are paid.
The development of cryptocurrencies made many people have a fresh look at the possibilities of online payments on the Internet.
Numerous polls and studies demonstrate interesting statistics. For example, about 70% of smartphone and tablet users have heard about cryptocurrency. 8.5% of Europeans own crypto assets. Every fourth citizen living in the territory of the European Union (EU) is ready to purchase cryptocurrency and use it to pay for goods and services.
Sellers also try to keep up and use every possible way to offer customers new solutions, including the ability to pay with Bitcoin, Ethereum, etc.
Future
Very soon we will witness the global financial market changing. This will partly happen due to the influence of digital currency, including national cryptocurrencies.
Look at China, where banks and large retailers are already testing crypto-yuan.
Cryptocurrencies will gradually conquer new directions and those companies that understand this are already taking steps to integrate cryptocurrency payment methods.
Z-Pay micropayment service
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While someone is just starting their journey, the Z-Pay payment system has been providing financial services to companies and individuals for several years.
The Z-Pay micropayment system allows you to instantly send and receive cryptocurrency or fiat.
More and more companies are joining us and benefit of using Z-Pay payment tools. Payment for goods and services is significantly simplified.
In addition, we focus on confidentiality and some of our products will allow you to carry out financial transactions without providing personal information.
*Let’s talk about practical application …
Z-Pay in practice. Example 1
The spheres of application are numerous. Everything related to transfers, payments, etc. can be integrated with the Z-Pay service.
Let’s give an example that will clearly demonstrate the convenience of micropayments in the Z-Pay system.
Direction: remuneration of the staff or payment for freelancers’ services.
Let’s imagine we are a company which collaborates with 2 freelancers who do a certain kind of work for us.
Payment day is coming. We go to our cryptocurrency wallet to transfer payment to freelancers for their work.
By the way, you can store funds directly in your Z-Pay account, where your wallet is built in.
Z-Pay wallet: wallet.z-pay.io
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So, what is required of freelancers to get paid.Almost nothing.
On the Z-Pay website https://Z-Pay.io/ click “Create a Z-Pay check“
There will pop up a tab, where we can create a Z-Pay check in 1 click.
Click “Create”.
In just a few seconds, the service will create a random check for you. This is how it looks:
Do not forget to immediately save the check number. In order to do this, click on the blue square, as shown in the picture below:
Copy and save it in your notepad.
Using the check number, a freelancer can receive funds from any address, using any cryptocurrency.
If he needs bitcoin, he clicks “Bitcoin” and gets bitcoin to his account; if he needsethereum, he clicks “Ethereum” and gets ethereum, etc.
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So, let’s go back to paying for freelance services.
The algorithm is simple:
1 — Freelancer creates a Z-Pay check, to which he can receive different cryptocurrencies
2 — The customer pays
3 — Freelancer cashes the check
Fast, convenient, without intermediaries, and with a high level of confidentiality.
One can create as many checks as he needs.
Z-Pay in practice. Example 2
Let’s analyze another example, when the customer and the executer make payments within the Z-Pay system.
To do this, both parties need to create a Z-Pay wallet. A simple registration procedure will allow you to quickly use the services of the payment system.
So, you are in your personal account. You replenished the balance and now you need to send the salary to your employee.
Z-Pay works with all major cryptocurrencies and fiat units. Now, for example, we want to transfer $ 150 that we have on our balance.
What is needed for this?
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Click on “US Dollar” and select “Pay” in the window that pops up- transfer funds to another Z-Pay account.
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Enter the data:
- mail or login of the Z-Pay user to whom we want to transfer $ 150
- transfer amount
- currency (we chose US Dollar)
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Click “Send funds”.
Thus, we paid for the services of a freelancer inside the Z-Pay system.
The freelancer instantly receives the funds and can use them at his own discretion.
IMPORTANT: transfers within the Z-Pay system are not subject to commissions.
Benefits of Z-Pay micropayment service:
- Simple interface
- Convenience of payments
- Safety
- Reliability
- Confidentiality
- Instant conversion between assets
- Fast deposits and withdrawals.
Conclusion
Many news sites have argued that bitcoin or ethereumare useless for micropayments, explaining this with high on-net fees.
And during periods of bigger network load, due to the increase in the number of transactions, commissions increase several times. Recently, we witnessed a similar situation with the fees in the Ethereumblockchain due to the growing popularity of DeFi projects.
So, it happens that if the user wants to transfer a small amount, then the commission is likely to be bigger than the transfer amount.
The solution is to use special services, such as the Z-Pay payment system, where there are no commissions for transfers within the network, and payments are made in few seconds.
