Merchant Payment Requests
We have a new feature available today as part of the merchant tools.
Merchants can now generate a payment request QR code which can be scanned, saved, emailed or displayed in a terminal to request payment from a customer.
This opens up a lot of opportunities for 3rd party integrations and makes the system usable in bricks and mortar commerce as well as online stores.
The QR code can be scanned by any QR reader app but this will also be integrated directly with our own mobile apps when they are released. On a generic QR reader it provides a merchant checkout URL where the visitor can log in to complete their purchase.
To setup a merchant request log in to the platform and click merchant tools. Enter a value and a reference (or item description). Click “Launch Payment Request” and the payment request will be generated.
If you have a QR code scanner on your phone already you can give it a try by scanning the code below and donating 1 JSE to the charity account. If not try clicking/tapping the code and it will have the same effect.
This opens up future possibilities where we can integrate JSEcoin with existing and new platforms to process payments and trade using cryptocurrency. This kind of system could be used in the future in the place of (or in addition to) credit card payments.
Because of our 30 second fixed block times it means that we are in a viable position to have these type of transactions on our blockchain. Challenges still remain for merchants who want to currently accept crypto-payments. One of the biggest is the market volatility which could affect a merchants profitability on a sale. Once JSE is exchange listed we plan to integrate fiat (USD/EUR/GBP etc.) values and then convert them to JSE based on rates on exchange at checkout. This will provide some protection to merchants who wish to accept both fiat and crypto payments or those who are purchasing stock in fiat and selling in crypto.
The merchant payment requests are an example of how we can integrate blockchain and web technologies to create elegantly simple, real-life, functional systems for trade.