How to earn cryptocurrency through online shopping?

The emergence of the Internet has laid the foundation for e-commerce, but it currently uses a centralized financial system for payment. With the proliferation of cryptocurrency and DeFi use cases, it is not wrong to expect that cryptocurrency projects will use e-commerce to create a new shopping model that will benefit all stakeholders.

For example, blockchain can seamlessly integrate e-commerce applications with DeFi mechanisms to offset the high interest charged by traditional financial services. Doing so can also allow users to benefit from more personalization, because they can actively participate in governance decisions that affect the quality of products and services available on the network.

@PayIt is a decentralized global platform that creates payment solutions for shoppers, merchants and markets, aiming to build such an e-commerce network.

@Pay, shop, save and get rewards

@Pay is the first DeFi platform that combines blockchain and smart contract technology with a “buy first, pay later” mechanism. Through BNPL, @Pay users can repay four times within three months without paying interest or late fees. This will apply to online and in-store purchases of products from the list of merchants on the platform.

When users complete the repayment within the specified time, they are eligible to receive the @Pay governance token, which is the native token of the @Pay platform, which is programmed to perform a number of key utilities for the user. Users can use @Pay tokens to increase their credit limit, purchase products and services from @Pay merchants in the market, and vote on key decisions that can shape the future of the platform.

After registering on the platform, approved users will immediately get a credit line of $250, and they can use the @Pay governance token to increase the credit line in the future. For example, if a user earns 20 @Pay tokens, they can exceed the credit limit and purchase a value of US$1200. This business model based on the BNPL concept enables the platform to act as a fiat-to-cryptocurrency bridge between merchants and users.

In addition, the platform has also developed a pledge mechanism in which users can pledge approved cryptocurrencies, such as stable coins USDT and USDC. The mortgager will receive variable income. The stablecoin pledger obtains income based on the income generated during the pledge period.

@Pay has created a collaborative mechanism to ensure that users are rewarded for participating in network governance and mortgages. This increases the user’s ability to upgrade transaction limits over time and receive rewards for responsible financial behavior when purchasing products. For onboarding businesses who want to take advantage of the benefits provided by DeFi while using the blockchain to establish a one-to-one relationship with their customers, they also follow the same philosophy.

Shopping redefines

With the increasingly fierce competition among companies in all walks of life, every innovation that creates more value for end users will become a competitive advantage. By adding the DeFi layer to e-commerce through BNPL, @Pay will redefine the shopping experience by rewarding good financial behavior. As users increasingly tend to contribute to the long-term well-being of the network, this makes the business sustainable and resilient.

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