ivendPay AMA SUMMARY
Tell us shortly what IvendPay is, and the history of its creation, also explain to us what its purpose is, this should help our community understand your product.
Paul Vysotski
IvendPay is an innovative payment system designed for accepting cryptocurrency through POS terminals, vending machines, and APIs. The main value of IvendPay lies in its cost-effectiveness compared to traditional payment methods, allowing savings of up to 30% in some cases. The system is actively operating in 9 countries and includes more than 1000 active merchants. The mission of IvendPay is “Pay with cryptocurrency in real life. Simply, quickly, safely.” IvendPay aims to simplify the process of paying with cryptocurrency, making it accessible and convenient for everyone, combining economic benefits, security, and ease of use.
Piotr
Very interesting, payment gateways and DeFi are definitely the foundation and future of cryptocurrency adoption worldwide, so the direction you have chosen is as good and full of prospects as possible!
Please tell us about your team, who are you and what experience you have in the crypto industry, why you chose blockchain technology in particular, especially with so much competition.
Paul Vysotski
Our team at IvendPay is anchored by a strong contingent of developers, led by our founder Artem Zhuravlev. Since 2018, we have been deeply immersed in cryptocurrency payment systems. In 2019, as you can see in our Medium posts, we installed a vending coffee machine in the Binance office, and subsequently provided a range of products like coffee machines and massage chairs for their meetups. CZ Binance himself noted how BNB payments became easily accessible through our services.
Since our inception in 2018, we have never been compromised, maintaining a robust security record. Just last month, we achieved a significant milestone by facilitating the world’s first NFC cryptocurrency payment. This development means that QR codes are no longer necessary; thanks to our solution, you can now simply bring your phone close to the payment terminal and pay via face ID. Bloomberg has covered this innovation, recognizing it as a true revolution in crypto payments — now surpassing traditional payment methods in several aspects.
Piotr
Sounds good! I’m impressed by your persistence in building the project, you’ve really achieved a lot already, you actually have a finished product, there’s a bull market ahead, and it’s a very good time to start the crypto adventure.
Could you elaborate on the compatibility of IvendPay with POS terminals, e-commerce platforms, and vending machines? What each of these things are, people are certainly curious about!
Paul Vysotski
Right from the beginning, our approach at IvendPay was to create an adaptive solution compatible with a wide range of terminals and devices. That’s why our application is available in both the Apple Store and Google Play.
Unlike many of our competitors who focused on creating their own hardware and terminals, we chose a different path. We decided to develop a product that would be accessible on all terminals, allowing any business to start accepting cryptocurrency payments simply by installing IvendPay on their existing terminal. Currently, we have integrations with several systems, including Sunmi, Tinyau, Aisino, Vanstone, Ciontek, Feitian, and X64, collectively covering millions of terminals worldwide.
Piotr
Sunmi, Tinyau, Aisino, Vanstone, Ciontek, Feitian, and X64 — To the layman, it sounds like black magic, but on closer inspection, it turns out that you have some really interesting integrations, and this is only the beginning after all, well done Paul!
Considering the potential regulatory changes in the cryptocurrency space, what strategies does IvendPay have in place to navigate and adapt its marketing efforts to comply with evolving legal frameworks while maintaining a competitive edge?
Paul Vysotski
It’s important to note that the legal framework for cryptocurrency is still in the process of formation, and we at IvendPay are at the forefront of this development. Currently, we hold three licenses: in Canada, Europe, and the Comoros Islands. We are diligently working to comply with all regulations, but it’s crucial to understand that as pioneers in this field, we are often setting the precedent and shaping the legal framework by demonstrating to regulators how crypto payments can be efficiently and securely managed.
Piotr
The more licences the better! Diversification is fundamental not only in investments but also when you are running complex businesses, as the geopolitical situation in the world shows us, this is a good move on your part.
Please introduce us to the usefulness of your $IVPAY token why is it worth having it and what rewards will it bring to its holders. We all like technology here, but we also like benefits a lot like everyone else, so this is definitely an interesting question!
Paul Vysotski
The IVPAY token was created primarily to support merchants, as throughout the development of our product, we have relied on feedback from our merchants. With the IVPAY token, merchants gain access to benefits such as cashback, commission payments, and staking. The key point is that as the number of transactions in the network increases, so does the need for tokens to facilitate these transactions. This means that merchants who hold the token can save money through these mechanisms. Additionally, we plan to buy back and burn a portion of the tokens to maintain their high value in the future.
Piotr
Caring about the value of the token and about your customers is a very good thing, it means that you not only care about the financial background of your company, but you also focus on the profitability of your customers using your solutions and this is after all a recipe for success, I wish you that your plans will succeed!
Many of us have noticed that you are being watched on x.com by CZ Binance, can you tell us more about your partnerships and also your collaboration with Binance?
Paul Vysotski
Yes, we are very grateful to CZ for supporting us at various stages of our development. We also highly value our integration with Binance Pay, which we accomplished last year. Currently, Binance is going through challenging times, and we are aware of this as we closely collaborate with their team. However, we hope that the situation will improve in the near future!
Piotr
I also hope that cooperation with #Binance will be the only benefit for IvendPay, despite what is happening the exchange should be able to cope, it is still number one in the world and it will be hard to change that! And the fact that you are being watched by #CZ himself is a very big distinction in the crypto world!
And just to top it all off, how would you convince a potential investor that IvendPay is worth investing in and having some $IVPAY tokens in your portfolio?
Paul Vysotski
I would recommend you to thoroughly study all the available information about ivendPay throughout its entire existence to understand the fundamental basis of the company. Next, pay attention to the development dynamics of ivendPay to assess its demand and value in the market. Finally, allow yourself to dream a little and imagine what ivendPay will be like when cryptocurrency payments are widely accepted around the world. This will help you see the potential and prospects of our project in the future.
Community Questions
Menden Hall
According to the roadmap, what is your most important next priority?
Paul Vysotski
At the moment, one of our main goals is to release our token! Listing date January 29. There is a lot of work, contracts with stock exchanges and the rest. A lot of forces are now focused on this. But there will also be big news soon, I can’t reveal the secrets yet, so follow our channels!
Ronado
Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relationships?
Paul Vysotski
The main page of our website Ivendpay.com
3. Dorathy
Where i can get all the latest news about? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?
Paul Vysotski
https://t.me/ivendpay
Winners Questions
1. Macmorris
Do you guys feel satisfied by seeing your progress and achievements till now, when you look back to the day when you have started this project?
Paul Vysotski
We are very pleased with our results and looking back, seeing all the difficulties we went through, we are very grateful to all those who were with us on this path! But you can’t stop here! There is still a lot of work ahead and a lot of goals to be achieved!
Friends, there are a lot of questions and a lot of questions that you can’t answer briefly! Therefore, for now, I will finish with the answers, but feel free to visit our chat, in which the moderators will answer all your questions!
2. Jonathan
Can you tell us about your team members? are they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project?
Paul Vysotski
Most of our team are professionals who have been in the crypto industry for years. For some of them, this will not be the first successful project they are engaged in! But I can assure you that our people know their business well!
3. Galvan
What is your strongest advantage that you think will make your team leading the market?
Paul Vysotski
First of all, the product itself is unique and most importantly in demand! When there is demand, there will always be an offer! Our task is to be the best in this segment, which we are still doing well with. Also, we have very strong and trusted partners who help people trust our company and use its services!
About Synapse Network
Synapse Network is developing a cross-chain investment and start-up acceleration ecosystem based on blockchain technology to give everybody an equal chance to contribute to great upcoming projects and to do so early on. We are bridging the gap between the traditional & crypto market. The idea of the Synapse Network technology goes beyond the standard offer of launchpads available on the market, becoming a true technological brand providing tech solutions.
