Payment 3.0 Era: HambitPay Upgrades Crypto Payment Interface and Launches Global Partnership Program

SHENZHEN, CHINA – Media
OutReach – 20 October 2021 – Recently,
HambitPay, a crypo payment platform from Singapore, announced the launch of its
global partnership program.

Unlike coinbase, binance, etc., which initially
centered on exchange business and
only later derived payment business,
HambitPay has been focusing on the research and development of crypto payment
technology since its establishment, capitalising Singapore’s geographical advantages
as an international financial center, and promoting a new payment ecosystem in
Southeast Asia and the world beyond. The global partnership program launched
this time is also a leap forward towards this goal.

Blockchain
is an emerging industry that aggregates many tracks, and HambitPay choose to go
all in on crypto payments for good reasons. A spokesperson of Hambitpay said
that HambitPay values the huge market potential that is about to explode for
crypto payments. According to the report
“Digital Assets Primer: Only the first inning” released by
Bank of America,  the cryptocurrency and decentralised financial
services industry has grown “too large to ignore.” With a market capitalisation of $2 trillion and
nearly 220 million users, the crypto sector alone is a spectacular size among
digital assets. When we look at the digital asset market as a
whole, the global digital asset management market is expected to reach $102.2
billion by 2026, according to a report by Indian market research firm Valuates
Reports.

Hambitpay believes that digital payment has
roughly gone through three stages of development:

1. Birth stage: With the development of the
Internet, the first “online banking” payment initiated by traditional
banks is the 1.0 stage of digital asset payment. People first need to have a
bank account before they can open the corresponding online banking account. At
the same time, in order to ensure the security of network assets, security
hardware (such as network shields, etc.) is also required.

At this stage, online digital assets are linked
to real assets in centralised financial institutions such as banks, and are
characterised by slow transaction processing, small cross-platform transaction
scope, the need to be linked to a bank account, and high fees.

2. Mobile payment stage: With the development
of the mobile Internet, the payment 2.0 stage arrived with applications backed by a large user
base, such as PayPal and Alipay. At this stage, people only need to have an application account, then they can make transactions and payments
online, offline, and between
different platforms.

The payment 2.0 stage is still under continuous
development and improvement. People can not only conduct transactions in
payment applications, but also through the API interface in various
applications and mini programs.

Payment 2.0 has brought great convenience to
people’s lives, but with the development of the market and the changing needs of users, Payment 2.0
is also facing some problems.

• Due to the centralising trend of payment platforms, transaction and
  payment fees are increasing, which affects the free flow and further
  development of digital assets.
• Payment 2.0 is still based on real bank accounts
  for transactions, so in an environment where cross-border payment and fiat currency payment are of limited
  capacity, it still cannot meet the needs of global payment of today.

Payment 3.0: Payment 3.0 marks the future direction of the financial and payments
sector. The problems that arose in 1.0 and 2.0 will be solved in Payment 3.0.
The solution is to establish a decentralised, digital financial native, and global payment platform.

Platforms of Payments 3.0 must meet the need for security, equality, and globalisation of digital assets. While
enabling fast payments, the platform must also have fees low enough to facilitate the inclusion of financially underdeveloped countries and
meet the requirements of financial fairness.

From the perspective of digital assets
globalisation and financial fairness,
decentralised and fair crypto
payments have become the prototype
for the Payment 3.0. HambitPay has already completed its in-depth layout in
terms of technology, products, resources, etc. in this arena.

The
prospect which HambitPay brings to users in the era of Payment 3.0

A
Higher Degree of Business Globalisation

The
last wave of information globalisation, marked by the rise of the Internet,
greatly contributed to the development of economic globalisation. The advent of
a new era of digital economy, marked by the free flow of capital, is bound to
bring about an even greater globalisation of commerce. Through crypto payment
platforms such as HambitPay, merchants can receive orders and payments from
customers anywhere anytime, expanding their business footprints to any corner
of the globe.

Enterprise-Level
Commercial Crypto Payment Solution

Unlike
the previous peer-to-peer transfer method of cryptocurrencies, HambitPay
provides users with an enterprise-level commercial crypto payment solution that
supports the simultaneous processing of multiple transactions initiated by
different users in different regions, ensuring a smooth transaction experience
in just a few minutes. It systematically solves many of the problems previously
faced by industries such as cross-border e-commerce, cross-border online
gaming, and global social networking, such as long billing periods for
cross-border transactions, cumbersome settlement processes, and volatile
exchange rates.

Lower
Payment Costs Compared to Traditional Methods

For
businesses, traditional cross-border payment methods have an average rate of no
less than 3%, which has a significant impact on their profits. Crypto payment
platforms such as HambitPay, on the other hand, can significantly reduce rates,
helping businesses to save on payment costs and secure a more flexible profit
margin.

Financial Fairness

The
decentralised blockchain technology is
currently the best way to achieve financial fairness, and Hambitpay has always
been committed to achieving this end. Through HambitPay, qualified
individuals or merchants from anywhere
in the world can conduct cross-border
business activities and enjoy the financial equality and openness brought by
crypto payments.

Emerging crypto payment platforms such as
HambitPay may help the market make
the leap from the early stages of payments to Payment 3.0, helping users to
capture more business opportunities
through advanced payment methods.

#Hambit #HambitPay