Simple payment card with bank-less merchant payment
Simple payment card with bank-less merchant payment

Simple payment card with bank-less merchant payment

Premise: If a simple crypto payment system could be used for universal currency payment with any merchant or business what would be its simplest use case?

  • The user has a fiat locked crypto payment account AUDD
  • The user has a wallet app for that account on their phone.
    • The phone should be NFC enabled ie most Android or iPhone XR or newer.
    • There should be enough funds in the account to make a payment.
  • The merchant would have an NFC tag next to their cash register.
    • The NFC tag that points to the payment wallet and preloads the payment recipient with the wallet ID of the merchant.
    • The NFC when tapped transmits a URL in this case it will be the client AUDD wallet app ID and a syntax to open a new payment transaction and to refill the recipient address as the merchants AUDD Wallet ID.
  • The user makes their purchase
  • They go to the counter and see the NFC tag next to the counter.
  • The customer taps the NFC tag.
  • The tag notification comes up on the phones screen
  • The user opens their phone.
  • The screen automatically navigates to the payment app and opens it using the parameters passed to it from the tag
  • The screen opens the app at a payment screen with the name of the merchant, a notifier to say if you have dealt with them before or not (to trap spoofed NFC tag impersonation) and your current account balance and a numeric entry field to type in the amount you want to pay…
  • The user shows the merchant the amount paid then hits pay
  • The merchant registers the sale as AUDD on the POS software/ the AUDD button would be next to the cash button.
  • The POS software could see the payment added to the pending transaction block and show as “Approved”. Or alternatively the merchant could look at their merchant AUDD account to see the payment.
  • The same could be done with a QR code.

Could it be further streamlined?

The ideal form factor would be Apple Pay single tap with the merchant specifying the amount to be paid as it is done today.

Along this line the converse of the above should be possible. The above example is a customer driven transaction where the customer initiates the transaction by tapping on the merchants NFC chip.

The following is an example or a merchant driven transaction where the transaction is driven by the .

  • The merchant has the "charging" version of the wallet app.
  • The type in the amount they want to charge