Ask Me Anything with BNB Pay at ICO Speaks: Summary
July 30-th held an Ask Me Anything session at ICO Speaks telegram chat. From the BNB Pay side there was:
Teason – Co-Founder | @BNBPayC
Hello! Teason here! I’m a spirited entrepreneurial founder with almost 10 years of experience in solutioning and implementing effective software deliverables.
Some of my career highlights include:
– developing and delivering a complete credit card online payment ecosystem connecting directly to MasterCard Internet Gateway Service (MiGS).
– developing and delivering complete mobile Point-Of-Sales (POS) ecosystems
– developing and delivering P2P lending ecosystems
Francis – Co-Founder | @bpaymodfather
Hi, I’m Francis, and I’m one of the three co-founders. One of our co-founders could not make it to the AMA, but I think having two of the three here is enough to answer the questions you all aim to ask today! I help co-manage and do marketing for the project.
Let’s get started!
Q: What is the purpose of BNBPAY, and why was it created?
A: BNBPay is a BSC token that is created with the aim to become the biggest merchant crypto payment, provider.
BNBPAY was inspired when we noticed that cryptocurrency has been used primarily as a form of investment, a store of value, but not as widely adopted or used as the currency Satoshi originally intended.
The BNBPAY team believes crypto has all the characteristics and technology to make it a tremendous global currency, especially for commerce.
Q: What is the ultimate vision for BNBPAY?
A: BNBPAY aims to become the most widely used crypto payment for commerce! (Both eCommerce and brick-and-mortar shops). Transaction confirmations will be ready in less than 5 seconds!
Our users can spend their crypto to buy items or services at any online store. They can also pay for their coffee at cafes and/or lunch/dinners at restaurants! BNBPay set a goal to tackle the world of commerce, and we shall achieve that!
We do all this by providing a complete ecosystem where users can:
– Stake and earn interest
– Pay with crypto
– Earn rewards when they pay
We mean that it’s not just our native coin $BPAY but also all other Binance Smart Chain tokens in the future. That means you can stake your safe moon, pay for your coffee with mini dog and earn rewards etc. How exciting, right?
Q: For a merchant, why BNB PAY over traditionally established payment gateways like Paypal and Amex?
A:
– Merchants are charged 1-4% from PayPal, Visa, AMEX etc., to process payments.
– Users are charged hefty international exchange rates every time they shop online
– Merchants have to deal with the headache of fraudulent credit cards and chargebacks from customers.
– Settlements with payment processors are usually at the end of the day rather than instant.
BNBPAY solves all these issues and that is why a merchant should be excited to use our technology!
Q: If I am an investor, why invest in BNB PAY over thousands of other altcoins on the market?
A: The market is saturated with meme coins. BNB PAY isn’t and doesn’t pretend to be the next Minidoge, Fatherdoge or Grandmotherdoge with 100x potential overnight.
Our ideal investors understand the enormity of the problem we are trying to solve and share our vision of revolutionizing cryptocurrency payment for commerce.
We don’t pretend or promise anything unrealistic to our investors, but we think the possibilities are endless for those that share our vision.
We already have merchants who have joined our revolution and hope to onboard many more in the future. In fact, merchants are already looking for ways to tap into this multi-billion booming crypto industry.
Q: What are the technical aspects of BNBPAY that make it stand out from its competitors?
A:BNB PAY is built on the BSC and is powered by the ERC1363 tech. It allows for virtually instant, decentralized, borderless payments, free from 3rd party monitoring, is pseudonymous and irreversible.
These are all qualities that merchants and users alike look for in commerce payments.
Globalization has been around since I was just a kid; it is about time there was a technologically advanced crypto payment system that matched the needs of the globalized world.
Q: Tell me more about some of the products in your roadmap that you plan to launch as a part of your payment ecosystem?
A: The BNBpay ecosystem is made up of 4 essential components:
1. BNBPay mobile wallet for Android and IOS
– Enable users to scan a payment QR code and pay in crypto
– Enable users to pay to any supported eCommerce website in under 5 seconds
– Enable users to stake and earn BPAY tokens
2. BNBPay Ecommerce payment plugins for significant eCommerce platforms
– Enable merchants to start accepting crypto on their websites
– Reduce the chargeback and increase revenue
– Supported eCommerce platforms include: WooCommerce
Shopify
Magento
And more!
3. POS (Point of Sales) system
– Mobile handheld POS enables merchants to accept payment anywhere
– Start receiving crypto in stores without having to pay hefty adoption cost
4. A platform that will allow users to stake and earn $BPAY and eventually incorporate all BSC tokens
– Earn BPAY just by holding BPAY tokens from reflection
– Enable users to pay expenses in crypto and earn BPAY as rewards
You may refer to our whitepaper for more in-depth information.
Q: I’ve learnt from your social media that you plan on revealing a debit card design, can you go into that for us?
A: Yes! We plan on having a loyalty system as we mentioned how users can stake and earn $BPAY! There are actually two tiers to the system and we may look to add more in the future depending on feedback.
The two tiers currently are BPAY Platinum (For our substantial investors) and BPAY Standard (For our everyday members who have invested in us and want to use our services).
As a platinum member, you will automatically get sent a nicely minted metal card! As a BPAY Standard member, you can opt to receive a card but we have not worked out the finer details of this yet.
Both cards are different designs and we will unveil these designs later today/tonight! Our fans will give us feedback and we will make changes accordingly! Stay tuned and follow us on Twitter and join our Telegram for more regular updates!
Q: Tell me more about the team?
A: The BNBPay team is based in Australia and Singapore. We have yet to dox ourselves as we have been focusing on marketing and development (As you can imagine, building a payment system takes a lot of effort and resources!)
Luckily combined, we have over ten years of experience in payment solutions, so we are confident in building our product.
Furthermore, due to popular requests, we do have plans to dox ourselves very soon! All those interested, please head to our official TG for future updates!
Q:How can i stay updated with your project? Can you share your telegram, Twitter, website and social link where are we find you?
A: You can stay updated by joining our TG and following our twitter. Everything can be found on our Linktree:
You can also find us on our official website:
Q: Do you have AUDIT credentials or are you working to AUDIT your project,” to make it more secure and reliable?
A: We do have audit credentials actually! Our project is quite secure and reliable!
You can view it here:
Q: Everyone values projects with long-term benefits over short-term benefits. So what does BNBPay do to ensure long-term benefits?
A: We mentioned above how we have various long term benefits.
We plan on having a loyalty program and an operating ecosystem for you all to use. When you pay or use our system, you earn by being a valued member.
Q:There are many wallets that offer decentralized payment option. Please explain some killer features of BNBPay wallet. Why should we choose you over similar wallets?
A: – BNBPay enables users to make near-instant payment (1-5 seconds) at cafe, restaurant, retails shops
– BNBPay allows users to spend any of their BSC tokens to make payment in daily expenses
– Users are able to earn rewards as they spend
Q: Love STAKING & will always be interested in the Staking where investors get passive income from Staking, What makes the Staking your poject ecosystem more attractive to investors & connoisseurs of the Staking ecosystem like me?
A: We actually have a rewards system in place once the ecosystem is set.
However, currently, due to our tokenomics, we’re giving out reflections for every transaction of $BPAY! Cool right?
Q:How can I buy this tokens? Is it available on any exchange?
A: You can buy our token here on pancake swap:
Q: Do you have a Token Burning plan to increase, Token value and attract Investors to invest???
A: Of course! We have actually burned 5% total already!
We still have another 10% to burn whenever we feel the need to help our $BPAY community
Q:As we know crypto world is growing and there are much new project out there. can you describe what are the specialty from Your project than other competitor?
A: As mentioned before, we have various use cases! We’re not a meme coin by a utility coin. We aim to change the way crypto payments are made!
That’s why we’re different. Our competitors are old legacy systems like Amex and Paypal etc.
Q:Can you share your recent achievements with us in terms of product development and ecosystem? And tell us about your plan for coming future?
A: So we’re actually working on the prototype.
The ecosystem does not take as long to set up as people think since our head dev (Teason), has had years and years of experience under his belt
Q:What is the role of token in the ecosystem? Where can users currently buy it, and what would be its use?
A: BPAY token can be used to make payment to onboarding merchants.
BPAY token can also be used to stake and earn rewards.
ICOSpeaks hosted an AMA Session with the BNB Pay Team. That’s all for today.
Thanks to all users who participated.
Thanks, BNB Pay for being with us
Thanks, all and see you soon😉
Cheers 🥂
Take a look at our other ama sessions
