CAFECOIN AIMS TO MAKE A SPLASH WITH IT’S UNIQUE PAYMENT PROCESS AND INTUITIVE MOBILE APP
The main goal of The CafeCoin Foundation is to make cryptocurrency accessible and easy to use. A lot of people get turned off of using crypto because it currently needs a certain level of technical know-how in order to truly make full use of its abilities. This is one of the factors The Foundation has identified as the main roadblocks for cryptocurrency’s wide-scale adoption. And one thing The Foundation will utilize in order to give adopters of CafeCoin ease-of-use, is their intuitive mobile application. They will also make use of unique payment process that will be convenient for their users.
Read More: Cryptocurrency: An Explanation for Beginners
The mobile application is basically all the users will need in order to utilize CafeCoin to its fullest. The Foundation has specifically partnered with many different experts in the field of cryptocurrency and technology in order to create the optimum mobile application that suits CafeCoin’s needs. Aside from the intuitive mobile app, there is also a version available for desktops. On the merchant’s side, CafeCoin can also be integrated into a pre-existing point of sales solution so merchants will have an easier time adopting CafeCoin as part of their business model.
CAFECOIN’S PAYMENTS APPLICATION
The CafeCoin mobile application is going to be made so all the complex cryptographically sealed transactions systems, like transactions, wallets, and liquidity are going to be at the disposal of even users who have no in-depth knowledge of tech or crypto. The app will be the vehicle for which users can initiate transactions between merchants and consumers, or between two CafeCoin users. The consumer’s application is going to be designed to be truly intuitive, so it can be marketed to and leveraged by the potential non-technical users who have yet to engage with cryptographic payments systems. The applications is to follow the basic and easy-to-use design of other traditional payment applications like Paypal, Venmo, and others.
The primary benefits of the CafeCoin mobile application are retail discounts and rewards programs, having the ability to hold and transfer CafeCoins, savings review, liquidity provider connectivity, and data migration from mobile wallets. The application will serve as the user’s wallet so they can store their coins there. Transferring CafeCoins and doing transactions is mainly done on the mobile application, and retail owners are able to give their customers discounts and incentives if consumers would give them previous transaction data for analysis.
With the mobile app, consumers will be able to see just how much they were able to save by utilizing CafeCoin as well. They can also have access to third-party liquidity providers so they can convert their CafeCoin to traditional fiat currency if need be. Mobile wallets and online banking applications, as well as other traditional payment platforms can also be migrated in CafeCoin. Because it is going to be the user’s all-in-one application for using CafeCoin, The Foundation intends to prioritize the development of the mobile app. What follows will be the web application and desktop applications. These apps will be available on all the most popular operating systems like Android, iOS, and others.
In addition, the CafeCoin application will have plugin abilities, which will allow people to have simple interaction with WeChat Pay, Alipay or Square, so adoption of CafeCoin can go more smoothly. For instance, if a brick-and-mortar store were using a point-of-sale system on the Square platform, the mobile application could identify a completed cash sale to Square, which will then avoid any credit or debit card payment processing costs.
However, the benefits of using the inventory management software is still retained. This is a very valuable solution for those merchants who are already making use of Square or similar payment processing and inventory management software. The interaction via software between merchants, consumers, and other API that facilitates interconnectivity with existing CRM and inventory management systems is going to be incorporated into CafeCoin’s software.
USER INTERFACE OF THE CAFECOIN INTUITIVE MOBILE APP
The CafeCoin application will have easy access to market liquidity and point-to-point merchant purchases using the CafeCoin digital wallet. When opening the app, the primary GUI will display the current balance, fiat currency conversion rate, the buy and sell button, CafeCoin market info, the settlement feature, transactional history, and the share past purchases with a merchant option. The buy–and-sell button will trigger the consumer to merchant exchange process, and the market information shows CafeCoin’s value graph and other pertinent information and statistics that is generated from liquidity providers.
The settlement feature allows users real-time access to market liquidity by connecting third-party liquidity providers, and the transactional history will show every transaction the user has made by using the CafeCoin mobile application. One of the most unique features of the app, however, is the share past purchases with a merchant option. This will allow users the ability to voluntarily share transactional history with merchants. This is strictly on a per merchant basis, and the information can be used to glean data like consumer interests and other sales trends.
In exchange for this information, merchants are able to offer rewards, discounts, and other promotions to reward these customers for providing feedback. Contrary to some social media platforms and other large technology companies, CafeCoin ensures they give their users free rein in sharing their information, while having complete control over who can receive this data and who cannot.
THE DIGITAL PAYMENT TRANSACTION PROCESS USING THE CAFECOIN MOBILE APP
CafeCoin will be a decentralized utility token that users will be able to use to exchange for goods and services in a commercial retail or wholesale capacity anywhere in the world. CafeCoin will also enable point-to-point transactions through a simple, and user-friendly interface. These transactions may occur between a consumer and a merchant, or two CafeCoin users who wish to transact. Here, we will explain the process of the consumer to merchant exchange.
A customer buying from a seller uses the merchant exchange process, which is facilitated through and interplay between the CafeCoin Application operating on the consumer’s smart phone, and the CafeCoin App maintained by the merchant or service provider on their phone or mobile device. The seller, or merchant in this case, can manually input costs and descriptions of the goods that are to be sold into the CafeCoin app. They could also use the CafeCoin app to determine the amount needed through interaction with an existing point-of-sale system. A QR code will be generated, which will contain the details of the sale, and a public key for the digital wallet of the merchant.
The buyers would then scan the QR code, and the CafeCoin application on his mobile device would reflect the proposed transaction on screen. The buyer then has the choice to confirm the transaction from the privacy of their own phone, or they may also opt to reject the transaction. No CafeCoins are exchanged until the user opts to settle the transaction. When the price is accepted, a transaction is created and sent for validation on the CafeCoin blockchain. A confirmation screen will appear after the CafeCoin app finishes the transactions between the two parties, and it will then provide visual feedback to both parties when the transaction is completed.
So take note. CafeCoin’s unique payment process will make things easier on both consumers and merchants, delivered to everyone via its intuitive mobile app.