Public Crypto BLOG: DIMPAY - Decentralized Cryptocurrency Payments In The Future

DIMPAY is a global payment system that is fast, inexpensive and fully secure. DIMPAY is part of the DIM Ecosystem and it is built on the NEM Protocol. DIMPAY aims to disrupt the traditional peer-to-peer (P2P), business-to-business (B2B), business-to-consumer (B2C) and consumer-to-business (C2B) payment systems by offering low fees, transparency, instantaneous transactions and a decentralized platform.

The use of DIMPAY will eliminate some numerous payment errors that occur with brick and mortar merchants. This will be achieved by scanning a Quick Response (QR) code from their mobile devices instead of using cashiers. As mobile devices continue to increase with popularity, the adoption of QR codes and mobile payments will increase. DIMPAY is positioning itself for this anticipated mobile usage boom.

DIMPAY is a global payment system that is built on the NEM blockchain. The use of blockchain technology makes the platform less expensive, instantaneous, transparent and it eliminates third parties. The platform is designed for peer-to-peer, business-to-business, consumer-to-business and business-to-consumer transactions. DIMPAY is an integral part of the DIM Ecosystem and it consists of DEPOTWALLET, mobile DEPOTWALLET and the DIM Debit Card. DEPOTWALLET allows users to buy, sell, hold and manage cryptocurrencies and cryptonized assets.

The DIM Debit Card will allow consumers to engage in e-commerce and walk-in purchases at merchant shops. The DEPOTWALLET Business Account will allow merchants to generate invoices, track inventory, make payments and much more. DIMPAY will facilitate cashless transactions for consumers and merchants. However, the payment system is not only for consumers and merchants; it has the potential to be a financial solution for the 2 billion adults who do not have bank accounts around the world.

DIMPAY Foundation

The DIMPAY Foundation is a separate entity from the DIM Foundation. The DIMPAY Foundation will have its own board members and employees. The DIM Foundation will offer full support to the DIMPAY Foundation as a pilot project. DIMPAY will operate independently within the DIM Ecosystem. The DIM Foundation has permitted the development of DIMPAY to be outsourced exclusively to the DIMPAY Foundation. This is to ensure that the DIM Ecosystem is decentralized, not just at the foundational blockchain level but the operational level too.

DIMPAY Objectives

Facilitate cashless transactions between consumers and merchants
Secure the value of DIM Currencies through promoting the use of DIMPAY and the DIM Ecosystem
Promote cross-border trading
Make exporting accounting records for merchants easier for them to save time and decrease costs
Provide financial services to the unbanked people community through DEPOT-WALLET
Be the go-to for merchants and consumers to conduct day-to-day activities
Promote the use of DIMCOIN and DIM Currencies
Secure the value of the DIM Ecosytem

DIMPAY comprises of DEPOTWALLET, mobile DEPOTWALLET and DIM Debit Cards. The three applications are interconnected and their functions supplement each other. DEPOTWALLET is a web app blockchain based wallet that permits users to buy, sell, hold and manage various cryptocurrencies together with cryptonized assets. The wallet allows users to make P2P transfers and companies to make B2B transactions. DEPOTWALLET is also a doorway for users and businesses to the Hybrid Stock Exchange (HYBSE). HYBSE is an online stock exchange that offers small and medium enterprises (SME’s) a platform to seek and access international capital.

DIMPAY Features

Users will enjoy the connectivity of having a three-way payment option made up of (1) DEPOTWALLET, (2) mobile DEPOTWALLET and (3) DIM Debit Cards
Access to the DIM Ecosystem, consisting of (1) wiseexchange operated by WISE Consulting Ltd, which facilitates the exchange of fiat currencies into DIM Currencies and cryptocurrencies as well as the digitalization of assets, and (2) a blockchain based financial platform (the HYBRID Stock Exchange) where DIMPAY users can trade crypronized securities, cryptocurrencies etc
User-friendly DEPOTWALLET interface
DIM Debit Cards connects the blockchain financial services to the traditional fintech services
DIMPAY simplifies the payment experience for customers
It is a platform where merchants can track customer trends and their inventories
DIMPAY integrates the point of sale, e-commerce and fintech services into the DIM Ecosystem