Merchant payment solution on stable coins
Stable Bank is a merchant payment solution on stable coins. By using Stable Bank, customer across the world can easily convert their fiat currency to compliant stablecoins we support and process payment with merchants offline. Compared to the current payment network, which includes cash, credit/debit cards, bank wiring, etc, the crypto payment solution has many advantages to both the merchants and the consumers. E.g. low fraud rate, short processing delay, much shorter settlement period and universal payment capability.
Stable Bank will promote the payment solution to merchants by giving merchant ultimate processing benefit and global loyalty solution. 90% of the payment will be distributed to the merchant immediately, and we hold 10% of the payment for 30 days for potential disputes or refund request from the customer with the power of smart contract. Stable Bank will generate revenue by collecting a small fragment of transaction fee to maintain the service. The next step, Stable Bank will also give customer access to loans, credit lines, financial investment opportunities by using the stablecoins. In the future, Stable Bank will be the standard payment solution option worldwide.
This project is for EOS Global Hackathon San Francisco.