PayNet uses blockchain technology to transfer funds from one person to another, from a person to a business, or from business to business.
While the process of using PayNet is straightforward, users need to have an account set up with a cryptocurrency wallet, and to register with PayNet. They’ll need to verify their details by giving their name, date of birth, address, and other details.
For merchants, PayNet allows them to accept credit cards, debit cards, and other forms of payment at your business without the hassle of traditional POS systems. PayNet works by providing you with a mobile terminal that can be plugged into your phone or tablet. Once it's installed, you'll be able to process payments right on your mobile device. You can also use PayNet's app to take payments on the go—no need to carry around cash or credit cards!
PayNet accepts all major credit cards and is compatible with most devices. It is also secure and compliant with industry standards for security and encryption. It uses a combination of encryption and tokenization to protect users’ personal information, so you can be sure that your customers' credit card information stays safe.
While still a new company, PayNet can be used at many online stores, as well as at over 1,000 locations worldwide including gas stations and grocery stores.