EUROCOINPAY.io
THE CHALLENGE
As alternative payment methods are transforming the traditional payment landscape, particularly driven by the mass adoption of smartphones and mobile devices, the customer needs are shifting towards faster, cheaper and safer payment transactions. The entrance in scene of revolutionary technologies as Blockchain and cryptocurrencies have the potential to disrupt the financial market thanks to their transparent, peer to peer, secure and anonymous nature. However, miners' costs and market volatility have so far curbed the adoption of cryptocurrency and Blockchain technology in everyday life micropayments.
EUROCOINPAY.io A NEW PARADIGM
Eurocoinpay.io creates a new model of open and collaborative economy in which the Community accesses FINTECH services in a decentralized system, free and free of commissions.
Eurocoinpay.io is an innovative solution capable of meeting the customer demands and bringing real usability to cryptocurrencies on your day-to-day expenses. Our unique combination of payment application and EurocoinToken (ECTE) will allow our customers to make and receive micropayments with the cryptocurrency or FIAT money of choice at no mining costs and in real-time thanks to the fusion of Ethereum Blockchain and IOTA Tangle technologies.
BUSINESS MODEL
Our revenue model consists of a transaction commission on every payment and trade performed through our platform, combined with the ICO and Tokens sale turnover. Since our product is designed for micropayments, our primary verticals are brick and mortar businesses, merchants in the B2C segment and their customers. Where? Our main target market will be the EU, with Spain as our entry market, as it is our local market and where we have most of our contacts, partners and early clients. How? We will use a referral strategy and attract new clients through a system of incentives for bringing new customers that will drive the word-to-mouth and viral effect, helping our exponential growth and ensuring scalability.
MARKET
The global mobile payment market is expected to reach €4Billion by 2023 growing at a CAGR of 33,8%. On the other hand, the cryptocurrency and Blockchain technology market is estimated to witness a huge CAGR of 35,2% from 2016 to 2022, and even the EU has recently acknowledged its potential to replace Fiat money! In fact, European Fintech initiatives are expected to have positive impact in the evolution of both these markets.
COMPETITORS
Our main competitors include global payment gateways, such as PayPal, and cryptocurrency exchanges with payment solutions, such as BitPay. However, none of them is designed to perform instant cryptocurrency micropayments. Our main competitive advantage is our unique ability to perform real-time transactions at minimal costs.
Eurocoinpay is the first payment platform bringing everyday usability to cryptocurrencies, providing us with an excellent business opportunity and a valuable competitive advantage as we are creating market innovation able of boosting the real economy.
CHALLENGE AND SOLUTION
The necessity of faster, safer and transparent, financial transactions. Why not anywhere? Why not anytime and delivered in real time?
New technologies are changing not only the way we think or the way we interact, but they are also transforming the way we buy and the way we pay. Paytech companies are disrupting the traditional payment ecosystem by leveraging innovative technologies to provide new payment methods and in fact new trends have already consolidated over the last years, as in-app payments or digital wallets. One of the main drivers of this fast transformation has been the mass adoption of smartphones and personal mobile devices. Indeed, mobile payments generated a revenue of €517.000M in 2016 and are predicted to reach almost €4Billion by 2023!
As the rise of the Internet of Things strengthens the vision of personalized services and alternative payment methods rival the use of cards in both online and offline retail, customers are increasingly demanding new and tangible value-added payment services. This is particularly true for peer to peer (P2P) transactions, since individuals require faster "here and now" secure transactions with a low cost structure, due to the perception of payments as a basic product.
On the other hand, concerns over personal data and fraud can remain barriers to a greater adoption of these new methods and legislation on data protection can play a key role in the years to come. Hence being able to satisfy the demand for instant, secure and transparent payment transactions will be crucial for Paytech companies to succeed.
Blockchain technology and cryptocurrencies have the potential to meet these customers' needs and to revolutionize the way we conceive financial transactions thanks to their transparent, P2P and decentralized nature and are expected to provide a universal, public way to store payment transactions that are irreversible, strongly secured, anonymous and global.
The use of cryptocurrencies for business to business (B2B) transactions has skyrocketed in the last few years (expected to reach €9.000M by 2022), as more companies realize the positive impact on their economy. However, the adoption of cryptocurrencies for small business to consumer (B2C) transactions has been hindered by the volatility of the market and technical issues that undermine the usability of cryptocurrencies on everyday life. The 'mining confirmation', required to perform a transaction, imply costs in time and fees that are particularly taxing for micropayments and offline transactions such as buying a coffee, have acted as a deterrent in the adoption of these promising technologies.
As a result, there is an exciting market opportunity for an innovative payment solution that can facilitate the adoption of digital currencies by tackling its usability limitations, while at the same time meeting the demands of fast, secure, low price, P2P transactions for B2C micropayments.
WHY IS THE MOMENT NOW? OUR BUSINESS OPPORTUNITY
Digital transformation has already strongly impacted the traditional payment ecosystem. For instance, mobile in-person payments will quintuplicate between 2016 and 2021 in the EU7 and eWallet payments will represent 46% of the global eCommerce by 2021. In Europe, initiatives as the Revised Payments Service Directive (PSD2) that came into force this January, promoting innovative payment services, are expected to create new business opportunities in the Paytech market.
On the other hand, the use of cryptocurrencies and Blockchain technology as an innovative payment method is gaining traction thanks to their revolutionary opportunities and the potential positive impact on businesses: the adoption of cryptocurrencies could increase by 3% the margins of Web-based merchants. Moreover, in a recent European Parliament report, the EU has acknowledged the great cryptocurrencies potential as an alternative to FIAT, thanks to its decentralized nature.
Eurocoinpay is built taking into account the mass adoption of micropayments from inception and leverages the already existing technology to meet the users demands now, paving the way for instant, low fee, safe and transparent P2P payments, offering a unique solution for micropayments and smoothing the path for the quick adoption of the technology of the Internet of Things and the Internet of Value. Accordingly, we consider that it is the perfect time to disrupt the Paytech market
MUCH MORE THAN A PAYROLL: EUROCOINPAY
We have developed Eurocoinpay, a disruptive payment solution, secure and decentralized, based on the fusion of Ethereum Blockchain (ERC20) and IOTA (Tangle) technologies that allows to make and receive micropayments in the currency of choice, either crypto or FIAT (Euro without fluctuation), in real time and at no mining cost. Eurocoinpay is designed and developed through innovative "blockless ledger" technology to solve the generation of micropayments and transactions instantly, at no mining cost. The Ethereum Blockchain (ERC20) provides a framework for the direct creation of Tokens, while IOTA (Tangle) resolves the generation of micropayments without need of miner's confirmation and provides a framework to access a decentralized network directly. We are the first platform in the market that combines these technologies to eliminate confirmation waiting and the transaction costs involved, providing the first exchange with balances that can be used on a daily basis thanks to our payment application. But Eurocoinpay is much more than a payment gateway. Along with Eurocoinpay, we have developed a unique ecosystem that offers different services associated with the company to not only make payments in a flexible way, but also to manage cryptocurrency wallets: Eurocoinpay is a global service for the cryptocurrency investors.
Eurocoinpay - Payment application: Pay with the currency of your choice (Fiat or Crypto). Eurocoinpay is the first app on the market that allows its users to pay with the crypto they desire in any establishment, and at the same time allows the business to choose in which currency they want to receive the payment. The App is developed for
iOS and
Android.
EurocoinToken – It is a file that serves as an exchange currency in the market and exchanges. Likewise, its value is speculative and is associated with the supply / demand of the market and supported by all the business lines of the organization.
UNIQUE AND DISRUPTIVE APPROACH
Eurocoinpay is the first platform in the market that allows the final user not only to pay with the currency of their choice, but also the commercial recipient to determine in which currency they receive the money. All that with no waiting for confirmation from miners and without the transaction costs involved, thanks to the fusion of IOTA (Tangle) and Ethereum (ERC20) technologies enabling fee-less instantaneous microtransactions without third-parties involved. Our innovative technology and unique concept make Eurocoinpay the integral service micropayment and the first of its kind to tackle the usability problems faced by cryptocurrencies.
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