MagniPay, a project of New Eye Holding Group, has launched its blockchain based platform which will revolutionize the modern-age e-commerce sector by leveraging blockchain and DeFi.
The e-commerce market in recent times has evolved a lot, however, there are still overwhelming challenges for merchants that includes but are not limited to the high cost of selling goods all over the world, leaving small margins for sellers, high charges of payment settlements, restrictions of cross border payments, issues surrounding acceptance of micro-payments and customer retention.
MagniPay serves as a platform that facilitates both consumers and merchants within the e-commerce sector, providing consumers with a unified platform to explore and access all sort of products while ensuring a seamless shopping experience, payment security and efficient support. Similarly, merchants are offered with a trustless payment gateway and smart-contract based order execution whereby they would be able to accept global payments, of any size, free of cost, instantly and without any restriction – enabled by blockchain and DeFi based settlement model. Moreover, the merchants are enabled to list their stores without having the pre-requisite of expertise in programming.
MagniPay also adopts an incentivization model which offers direct rebate on all of consumer purchases. This way, once you purchase a certain product from any seller across the MagniPay platform, you will get direct return in the form of MP Tokens, straight into your purchasing wallet. Unlike traditional reward points, the MP Token is exchangeable which allows users to go and shop across other marketplaces or exchange against other currencies as well. Moreover, MagniPay also offers a lucrative referral campaign and a mining reward program.
The MP Token, which serves as the native token of MagniPay has an inherent utility within the MagniPay financial ecosystem. Beside serving as a medium for exchange of value, it can be used for mining while having direct acceptance in the MagniPay ecommerce platform. The Token can further be utilized for payments across third party merchant stores and as a p2p exchange of value. A remarkable point, the value of MP increases by 1%-5% daily based on the increase in the number of global users.
Today, it is rare where you can pay for daily coffee, grocery purchase, or make online payments using cryptocurrencies. While it is true that cryptocurrency could be exchanged at a certain exchange, but that process is hectic and takes time. For example, a person has to wait for confirmation that it has been completed, then wait for the funds to be transferred to the nominated account, and so on. But who would actually do this to buy coffee or a grocery? With the MagniPay Ecosystem, that changes instantly. MagniPay and its associated products and solutions do all this for the client. From any cryptocurrency that is pre-selected by the user in the MagniPay App, MP Payment gateway carries out all communication and, ultimately, there is only one thing to convert and pay to the user, attach the smartphone to the NFC terminal and press go.