Introducing Mosquito Pay: Revolutionizing Crypto Payments on IOTA and Shimmer Networks
A blockchain enthusiast named Collin Brown has recently brought attention to the emergence of Mosquito Pay in the world of blockchain. This innovative platform is set to revolutionize cryptocurrency transactions on the IOTA and Shimmer mainnet.
Embrace the future of payments with Mosquito Pay! Discover the power of cryptocurrency on IOTA and Shimmer mainnet, where speed, security, and innovation converge. Join the Touchpoint Revolution and Blockchain Evolution with Mosquito Pay. Retweet to spread the word!
Mosquito Pay has joined the Touchpoint Open Builders Program with the goal of refining blockchain-based monetary transactions in both the digital and physical realms. The application enables manual payments through PCs or smartphones on the IOTA mainnet. These payments can be used for online shopping, in-store purchases, or in-app and in-game expenditures.
On the other hand, the Shimmer network facilitates automated payments, enabling machine-to-machine transactions through smart contracts.
Seamless Transactions: Manual and Automated
Mosquito Pay is designed to support both fiat and digital transactions, making it a versatile platform. It offers secure, fast, and convenient crypto payment options, bridging the gap between buyers and sellers through an intuitive medium. Users are encouraged to test the ‘Pay With IOTA’ plugin on their platform to experience it firsthand. In the background, a transaction listener ensures that the transaction is confirmed before the requested service is rendered.
By utilizing Shimmer, Shimmer EVM, and multi-chain technology, Mosquito Pay envisions a vast range of blockchain-driven financial transactions in both virtual and real worlds. An illustrative video showcases three different use cases: electric vehicle charging stations, car parks, and smart metering devices, providing a comprehensive overview of the payment processes.
The Advantages of Mosquito Pay
Low Fees: One of the significant advantages of Mosquito Pay is its low fees. This sets it apart from traditional FinTech or credit card providers, which often charge hefty fees. For micro-transactions under 10 euros, sellers can save up to 40% on fees.
Programmable Money: Mosquito Pay taps into the concept of programmable money, encouraging automated money transactions for everyday activities within smart cities. Whether it’s a driver leaving a car park or a municipality settling its water bill, the streamlined process through smart contracts highlights simplicity and efficiency.
Protection Against Volatility: Mosquito Pay offers protection against volatile exchange rates with fiat currencies like USD or EUR. It achieves this by facilitating an easy swap to stablecoins. The structured low-fee mechanism allows retailers to convert and off-ramp crypto earnings to traditional bank accounts, mitigating the risks associated with volatile assets.
As Mosquito Pay expands its reach into real-world adoption, a significant milestone is its integration with Point of Sale systems. It now accepts various cryptocurrencies alongside traditional payment methods. Ongoing discussions with major Point of Sale providers in Germany, Italy, and Turkey bring Mosquito Pay closer to becoming a household name in crypto payments, leveraging the robust frameworks of IOTA and Shimmer Networks.
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