The current system of invoices used by the bulk of firms is considered false, slow and costly, as soon as some payment providers charge 3.5% in order to simplify the fee or monthly payment with a fixed emergency contract, and still leaves a lot of gaps for later and default payments, time and money, trying to repay debts, which for legitimate reasons belong to them. Some firms in the final result are wasting more than the balance of accounts for judicial losses and litigation, and in some final variants end the withdrawal from the business because of non-payment. Prontapay is here to solve problems like this and many more.Let's talk about Prontapay
INTRODUCTION
Prontapay will be a revolutionary invoice payment platform built on blockchain technology that will use smart contract & smart legal code, to create our trademarked Smart Legal invoice (SLI)™. Companies will be able to create and send out smart legal invoices (SLI)™ using our desktop or mobile interface to customers quickly and easily requesting payments for services or goods automatically or on a set date determined by them. Each invoice will be sent on the blockchain and incorporate smart legal coding that will make the invoice once accepted form part of a more legally binding agreement between company & payer.
AIM AND GOAL
The aim of Prontapay is to accelerate the payment of invoices to the right details, reduce labor expenditures and the number of fines for late payments. The developers utilize smart contracts of Ethereum, which “check” and “pay” standard invoices automatically. The volume of the daily document turnover reduces, accountants have to check accounts only with non-standard terms.
HOW IT WORKS
Prontapay will assume the world’s first Smart Legal Invoice (SLI) ™ payment system, which will apply intellectual contracts and blockchain technology to help businesses at least of the volume obtain the most successful payment, save money on transaction fees and create the most stable fast and non-dangerous ecosystem of accounts awarding users with ProntaPay coins due to any successful transaction. Their preparatory implementation ends on June 14, and their ICO comes on June 15.
SLI document is paid in 5 steps.
- A supplier opens the app and creates an invoice for payment. Details, amount and deadline of payment, description of goods, terms of the contract (currency clauses, discounts, fines, and other details) are fixed in the smart contracts and don’t require verification.
- SLI document is sent to counter-agent for verification through the blockchain: no queues or currents of e-mails. The account is linked to the contract and clients see, what they pay for.
- SLI document is paid after the acceptance, in this, Remittance (the payment confirmation) is sent automatically.
- The Prontapay system takes 1% of the transaction regardless of the payment specifics, contract currency, and other aspects.
- Supplier and buyer receive the remuneration for use of Prontapay. After getting the transaction completed both parties are with profit, with tokens of the system in their cryptocurrency wallets.
Developers have built Prontapay on three principles.
These principles are;
- Legality: Each invoice contains the link to a valid contract between a supplier and a customer. If parties want to print the document for the tax inspection, it will have a legal power. An invoice is automatically paid after the verification of the counteragent: such an approach excludes incorrect payments and costs of return of funds.
- Informative: Invoice payer receives automatic notifications 24 hours before the expiration date of the payment. If funds were not received, 1 hour before the set date the second notification.
- Economy: A counter-agent having no funds for invoice payments receives an automatic notification within a week after the set date of payment. If the invoice isn’t paid, a late fee (2,5% for the transaction) and debt are collected by the Prontapay debt collecting service.Companies with large amounts of transactions may activate Escrow, a service for checking goods and services before the payment. Counteragent approves that all goods and services were ensured on a stipulated quality level. The supplier receives the payment confirmation in time.
ABOUT TOKEN AND TOKEN SALE
Token: PRO
Platform Ethereum
Token Price 0.14 USD
Token for sale 75,000,000 PRO
Token supply 250,000,000 PRO
soft cap 500,000 USD
Hard cap 15,000,000 USD
Accepting ETH
Restricted countries: Canada, China, Singapore, United States of America
Know Your Customer(kyc): Yes
Whitelist:Yes
Bonus- Supply sold = 0 - 5,000,000: 100%
- Supply sold = 5,000,001-25,000,000: 40%
- Supply sold = 25,000,001 - 50,000,000: 25%
- Supply sold = 50,000,001 - 75,000,000 : 10%
ICO Time:14 Apr 2018 - 14 June 2018
For more information, please visit:
Website: https://prontapay.io/
Whitepaper: https://prontapay.io/White-Paper-v1.0.pdf
Twitter: https://twitter.com/prontapay
Facebook: https://twitter.com/prontapay
Telegram: https://t.me/prontapaycomunity
Author Profile: https://bitcointalk.org/index.php?action=profile;u=1141955