With the power of technology in today’s world, businesses are no longer restricted or confined to the boundaries of a country or region. Instead, businesses now thrive globally through technology, achieving more results.
Even as businesses strive to harness the numerous potentials embedded in borderless transactions, several challenges have confronted them. Leading among these challenges are national currency value fluctuation and high charges of traditional banks and fintech. This is a particularly real situation in nations across Africa, Asia, South America, and others. Meanwhile, transition in governance and change in government regulations also come with their challenges for businesses.
To solve these challenges, IvoryPay seeks to assist merchants, creators, and businesses get efficiency. They aim to achieve this by providing an alternative route to making transactions, paying, or receiving payments. With IvoryPay, businesses will be able to reduce their cost of transacting, increase transaction confirmation speed, and accept payment in stable currencies.
Components of the Payment System
There are three components in the IvoryPay system, the IVRY token, the NFT storefront, and the IvoryPayment gateway solution. Using the most convenient means, customers can make payments through IVRY coin. At the same time, businesses can easily accept payments in stablecoin using the IvoryPayment gateway solution. As a result, businesses will also have the opportunity to monetize and diversify their revenue stream. The IVRY token will be a means of exchange between customers and merchants.
The conveners of the innovative payment portal are Ope Akinremi and Oluwatobi Ajayi. These two also co-founded one of the biggest crypto marketing agencies in Africa, Uptrend Africa. Oluwatobi believes that global businesses are now where there should be no trade barriers. Through payment solutions, businesses should have more options for payment processes, enhancing user experience.
In addition to Oluwatobi’s words, Ope said customers are pivotal in businesses, and all forward-thinking businesses should aim at making their customers comfortable even with means of making payments.
Although the project is still in the development phase, it can be a game-changer for online businesses and global commerce when launched.