Today it is difficult to imagine at least one day in our lives without the use of mobile banking and electronic payments. Even a child today knows how to use it. But not all over the world this situation, for example in the Philippines 79% of banks are rural and prohibit the use of electronic money.

Most payments are made by cash and checks, while electronic transfers account for only 1%. Therefore, even the payment of utilities or the usual transfer of funds within the country forces residents to go to the Bank, spend their time, stand in queues and pay an additional fee, which is statistically higher by 3% of the world average.

Pearl Pay project intends to solve the problem of electronic money and improve the lives of the inhabitants of the Philippines!

The global goal of Pearl Pay is to create a single modern payment system in the Philippines and provide residents and tourists with world-class payment service. Pearl Pay team will create a simple and convenient platform for the transfer of funds and mobile payments, which will allow residents to save time and not depend on the problems of the banking system.

Pearl Pay is a multi-functional platform that will enable its users to make instant transfers within the country and abroad, quickly exchange currencies and trade electronic currencies.

The project structure will consist of several components:

PESO;
Remit;
Pearl Pay Exchange.

PESO-a special application designed for small and medium-sized businesses, it will become an indispensable tool for small shops, supermarkets, pharmacies, etc.

Remit is a mobile application with a built-in wallet that will allow you to make instant and almost free transfers to relatives and friends both within the country and to citizens working abroad who want to help their family. The application is built on the third-generation blockchain Komodo, which will provide greater transaction speed. After the transfer, the funds are converted into PRLPAY tokens, which can then be converted into the national currency of the Philippines.

Pearl Pay Exchange - will be the main platform for currency exchange and trading on the territory of the Philippine Islands. This resource will allow you to convert Fiat to cryptocurrency and back.

Details of the ICO and team

The public sale of the coin will start on September 1, 2018. It is expected to end on October 30, 2018. 35% of tokens are reserved for all sales stages, 20% are allocated for Pearl Pay team. 28% of the funds raised from the ICO will be used to develop products and attract new team members, another 28% will support liquidity.

Pay Pearl team consists of experienced professionals with a deep understanding of the nuances of creating such projects.

Conclusions and Outlook

After an in-depth analysis of the current situation of the financial system of the Philippines, I can conclude that Pearl Pay has all the chances to become a national gateway of transactions for electronic money of the Philippines.
And thanks to a wide range of useful tools Pearl Pay will quickly win the attention of citizens and become their indispensable assistant in daily affairs, helping to save time and money every day.