CryptoShop is designed to allow individuals and small merchants sell their products to our growing number of users and accept both fiat and CryptoPeso stablecoin as secured traceable and retractable payments against fraud, without the need for complex technical know-how.
The Current Situation
Currently there are a number of popular online e-commerce platforms that allow merchants to sell their goods online and accept payments through traditional methods. But most of the time, these platforms are used by a lot of scammers and usually fraudulent transactions are very rampant. The reason for this revolves primarily on the payment systems being used to conduct the sale. Cash payments can be lost to fake sellers, credit cards can be charged back which can incur huge losses to merchants, and so on.
Once the seller ships out the goods which is usually conducted by cash on delivery method, the risk of not being paid and the goods getting lost is very high. Similarly, once the buyer sends the payment without the goods being delivered yet, same risk falls upon the buyer with no assurance that the goods will be received or the payment maybe refunded. There is no way payments or goods can be properly tracked, because even traditional payment methods or courier services fail sometimes.
CryptoPeso™ Designed for Security
To minimize or eliminate fraud totally, what if we can come up with a secured platform where buyers will have a means to trace and retract their payments if the seller failed to deliver the purchased goods or services, and at the same time, to assure sellers that the funds are already secured before they ship out the goods to protect them from fraudulent buyers? Blockchain made all that possible.
And using CryptoPeso® stablecoin, we can guarantee the funds are secured on the blockchain which can be traced but not modified, therefore guarantees both the seller and buyer that the funds are safe until both parties completes the transfer of actual goods or services. We minimize movement of funds as well and reduce the associated costs in moving funds from one party to another, since all it takes is just movement of tokens from one e-wallet to another.