Come check out the new video on SmartCash that compares the easy to use SmartCard with the legacy payment card network system. Quick, fun, and good music!
Watch, like, comment and share the video:
Video Transcript:
Dim is running a grocery store in Greece.
His store accepts cash and credit cards.
Meet John, who traveled from the USA to Greece for his summer vacation.
He went to Dim's store to buy supplies.
He paid with a credit card issued by his USA Bank.
Let's break down this transaction.
John pays with his credit card at Dim's store.
John's purchase and credit card security details given to:
the grocery store's Point of Sale system
and then to the payment card network.
There the transaction is checked for fraud and that funds are available in John's bank account.
Afterwards the transaction and cardholder information are sent to a Settlement Bank, and the transaction goes through.
Finally, after several days or weeks the money is transferred to the grocery store's Bank.
On top of that, the payment may be declined or later be reversed as a chargeback.
Typically, Dim is charged a 3% fee for this transaction, which he passes on to customers with higher store prices.
It's slow, complicated, and expensive...
Let's see the alternative.
SmartCash with InstantPay.
John pays with his SmartCard,
there is no 3rd party processor, no Settlement Bank and no Middleman,
no fees, no failed transactions, and NO private information given to anyone.
Dim receives his funds, INSTANTLY.
John's payment is complete and his balance is updated in a second.
Simple.. right?
Accept SmartCash in your business with 0% fees.
About SmartCash:
SmartCash is an easy to use, fast, and secure cryptocurrency that supports everyday use such as business payments and daily transactions. SmartCash has a unique decentralized governance system and technologies such as SmartNodes, InstantPay locked transactions in about a second, send by SMS and email, a project treasury with private key voting, SmartMining security, SmartCard, and it's Point of Sale app called SmartPay. SmartCash is pushing the limits of blockchain technology with tools that support entrepreneurship and innovation.
Intended for use worldwide, SmartCash is available at ATMs, the first cryptocurrency shop in Europe, The House of Nakamoto, local exchanges and is especially popular in South America and Africa. In Brazil, 85% of retailers accept SmartCash with the SmartBand and is now available at an additional 13,000 Caixa locations in Brazil.
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Great video, easy to understand
Great video, excellent explanation!!!
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