ONTPAY (ONTP) is a cryptocurrency payment system that is built on blockchain technology. It offers a payment and customer incentive platform for businesses that are suited for online commerce, such as convenience stores and franchises. To further broaden its worldwide reach and assist it in realizing its mission, the company’s native token, known as ONTP, was just listed on the LBank Exchange at 16:00 (UTC+8) on September 7, 2022.
ONTPAY is now being introduced.
ONTPAY is a cryptocurrency platform that may be used for payments, rewards, and transactions for services provided online and on mobile devices. Its goal is to create a global payment and customer reward network for quick-service restaurants and franchises that is suited for internet business.
When using a credit card to make a purchase at a franchise store, you may run into issues such as expensive fees and delayed settlement. The combination of blockchain technology and a payment system is what ONTPAY hopes to solve the issues that now exist. Users of bitcoin have the opportunity to earn benefits in the form of reduced transaction costs, immediate settlement, and a portion of the total money spent by ONTPAY. It is a business model that meets the needs of users while also catering to the requirements of merchants.
There are over 30,000 convenience stores and numerous franchisees in Korea, and the domestic market for convenience stores is constantly expanding despite the quick shift to an era of single-person families. ONTPAY was one of the first payment systems to use cryptocurrencies. It allowed users to pay with ONTP, the platform’s native token, through the ONT APP at convenience stores and affiliate locations all over the country. Additionally, a portion of the payment is rewarded with additional ONTP.
In addition, ONTPAY will offer a service that enables users to convert cryptocurrency into fiat currency using ATM machines that will be placed in 500,000 gas stations and convenience stores across the country. It is less expensive than the current cost, and it allows withdrawals to be made without the use of a card, thus it is much simpler to use.
ONTPAY lowers entry barriers by creating user-friendly platforms and intuitive interfaces, thereby addressing the structural restrictions that are inherent in the traditional payment services that are currently available. It makes payment processing easier by utilizing blockchain technology and the coin economy with lower fees, and it strives to provide a cryptocurrency-based payment solution that can be quickly applied to the real world through the reward, as well as the withdrawal of ONTPAY cash using ATM devices located in convenience stores across the country.
Regarding the ONTP Token
Within the ONTPAY app, the native token of the ONTPAY platform, ONTP, is the currency utilized for payments, compensation, and other types of transactions involving online and mobile services. Based on ERC-20, it has a total supply of 300 million (i.e. 300,000,000) tokens, of which 10% is provided for token sale, 5% is allocated to early contributors, 10% is allocated to founders and the team, another 10% will be used for marketing, 50% is provided for rewards, and the remaining 15% is reserved. The token sale will take place at a later date.
Since the ONTP token was posted on LBank Exchange on September 7, 2022 at 16:00 (UTC+8), investors who are interested in the ONTPAY investment can simply purchase and trade ONTP token on LBank Exchange right now. The listing took place at the same time. It is without a doubt that the addition of ONTP token trading on LBank Exchange will assist it in further expanding its business and attracting more attention in the market.