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Paytomat (PTI) ICO Review – ICO Token News

Overview

We have built an extension to receive payments in crypto on existing POS (pointof-sale) solutions and successfully deployed it on 150 merchants. We are now beta-testing customer mobile wallets and a standalone Paytomat Mobile POS for both payment processing and a blockchain-based loyalty program. Paytomat will streamline the process of accepting the payment in crypto for the merchant, and give an extra incentive for the customer to pay in crypto of their choice with no extra conversion.

Both merchant and customer are treated as possible crypto investors who manage their assets across crypto and fiat. The merchant can easily cash out through our payment processing partners or hold part of their gain in crypto. Our unique blockchain-based loyalty program is based on PTM coin, incentivising merchants to accept payments in crypto, and PTX token, residing as an asset on top of the PTM blockchain and incentivising end customers to pay via crypto. For the purposes of this token sale, we also introduce the PTI token based on Waves Platform. PTI is interim token that will enable us to conduct this token sale while the testing PTM blockchain. After the release of the PTM blockchain, PTI token holders will be able to exchange their PTI ICO tokens into PTM coins.

Paytomat and Blockchain

Crypto Payment Gateways

Paytomat is primarily a crypto payments processing system. This means, we have to interact with the blockchains of each crypto that is available as a payment instrument inside our ecosystem. We perform this interaction by creating our dedicated nodes for each blockchain. Each node is managed by our payment processing gateway dedicated to operating a particular crypto. Each gateway interacts with our Database via our Processing Server.

Besides Paytomat’s own gateways, we will be also using gateways of the other payment platforms for an additional fee paid by us to these platforms. We developed this feature to broaden the scope of our ecosystem and enable future regional partnerships via our decentralized franchise.

Crypto Exchange Gateways

These types of gateways are nodeless. We might be interacting with nodes of a particular exchange. However, we don’t use our own nodes here. Also, in case of the Payment Gateways Paytomat is always creating an address inside our system to process the transaction. In the case of Exchange Gateways, we don’t create such an address. Instead, we use the address which the exchange is providing to us and treat it as if it is our own. The useful bonus in this case, is that we are saving a transaction fee, which we should have paid if we accepted the currency to our internal address and then transferred it to the exchange address

PTM and PTX

Our PTM crypto uses a forked blockchain, which is one of the fastest in the industry, supports atomic swaps and allows issuing tokens without having to use Turing complete smart contracts. PTX is an asset token, residing on top of the PTM blockchain.

In many cases, a new crypto or token is created to have at least some connection to blockchain and, hence, be entitled to be categorized as ‘blockchain startup’. In the case of Paytomat, we use both PTM and PTX to natively augment the magic of blockchain technology. Namely, we are establishing our own PTM blockchain to create loyalty incentives for using various other cryptos and their blockchains in real life.

PTX Token

Like any other customer loyalty program, PTX rewards customer spending with loyalty tokens sent directly to customer’s wallet. PTX offers multi-brand loyalty programs akin to the ones offered by banks and fiat payment processing systems. Payback, originally introduced by American Express, but now a platform-independent loyalty program provider, is a good model case working on a number of markets worldwide. In terms of technology, PTX is an asset on the PTM blockchain that can be freely transferred between users of this blockchain with minimal transport fees. After a customer uses her PTX to get goods or services, which belong to the loyalty pool, the used PTXs are ‘burned’, i.e. deleted from the system without the possibility of being restored.

Wallet

Paytomat wallet provides our end customers with a convenient way to pay in crypto and is the dedicated solution for storing PTX loyalty tokens accrued to this customer for paying in crypto within Paytomat ecosystem. By focusing on smooth flows, relevant up-to-date functionality and creating convenient interfaces, we can create an app that will be simple enough for a day-to-day usage. Our wallet will use several services that are smartphone-friendly, including geotargeted push notifications, discounts and rebates, built-in merchant’s map, etc.

Security

Our Security Standards All our external interactions use TLS/SSL protocol. We rely on data redundancy and load balancing to protect our system from DDoS attacks and data corruption. Our Core is encapsulated within a highly protected private network. The only public interfaces exposed outside are HTTPs ports, which make sure only customers and applications using these ports will be able to get inside.

If you would like to know about other trending ICOs in the market then check out the ICO list.

Team

  • Yurii Olentir CEO
    Yurii Olentir CEO
    Yurii Olentir CEO
  • Andrei Arsenin CTO
    Andrei Arsenin CTO
    Andrei Arsenin CTO
  • Andriy Velykyy Business Development Director
    Andriy Velykyy Business Development Director
    Andriy Velykyy Business Development Director
  • Alexandr Baranovsky Marketing Development Director
    Alexandr Baranovsky Marketing Development Director
    Alexandr Baranovsky Marketing Development Director
  • Iaroslava Tkalich CMO
    Iaroslava Tkalich CMO
    Iaroslava Tkalich CMO
  • Dmitry Baimuratov Blockchain Evangelist
    Dmitry Baimuratov Blockchain Evangelist
    Dmitry Baimuratov Blockchain Evangelist
  • Sudip Banerjee Chief Analyst
    Sudip Banerjee Chief Analyst
    Sudip Banerjee Chief Analyst
  • Oleksandr Kurinnyi COO
    Oleksandr Kurinnyi COO
    Oleksandr Kurinnyi COO
  • Antonina Shatsylo Communications Director
    Antonina Shatsylo Communications Director
    Antonina Shatsylo Communications Director
  • Vladyslav Martiushev Community Manager
    Vladyslav Martiushev Community Manager
    Vladyslav Martiushev Community Manager
  • Yaroslav Omeliyanenko Digital Marketing Manager
    Yaroslav Omeliyanenko Digital Marketing Manager
    Yaroslav Omeliyanenko Digital Marketing Manager
  • Sergii Dykyi Digital Marketing Manager
    Sergii Dykyi Digital Marketing Manager
    Sergii Dykyi Digital Marketing Manager

Milestones

  • 1
    Q1-Q2,2017
    [UX1] MVP of POS Integration (Poster and Profit Solutions)
    [UX1] Basic Mobile POS (iOS)
  • 2
    Q3-Q4, 2017
    [Dev2] Support for BTC, LTC, Dash, Waves enabled.
    [Dev2] Centralized exchanges integrated (BitFinex, Poloniex, Bittrex).
    [Dev3] Poster and Profit Solutions integrated.
  • 3
    Q1, 2018
    [UX1] Basic Mobile POS (iOS).
    [Dev2] Support for BCH, ETH, ADA, EOS, NEO enabled.
    [Dev3] Integrate 1C, R-keeper and Nobly.
    [Dash4] Merchant dashboard ready.
  • 4
    Q2, 2018
    [UX1] Mobile POS (Android).
    [UX1] Basic Mobile Wallet (Android).
    [Coin5] PTI traded on major exchanges.
    [Coin5] Token sale complete.
    [Dev6] Payments via chatbots.
    [Dev7] Web Payments eCommerce Plugins.
  • 5
    Q3, 2018
    [Dev3] Oracle, NCR, Ingenico NFC integrated.
    [UX1] Basic Mobile Wallet (iOS).
  • 6
    Q4, 2018
    [UX1] Mobile POS Pro Edition (Desktop).
    [Dash4] Merchant analytics.
    [Dash4] Dashboard for the core teams of the cryptos.
    [Dev2] Testnet for Paytomat Blockchain and DAO.
  • 7
    Q1, 2019
    [UX1] Mobile POS Pro Edition (Android).
    [Dev2] MainNet for Paytomat Blockchain and DAO.
    [Dev7] Implementation of the atomic swaps.
    [Dev8] API and documentation available for 3rd party payments processing integration
  • 8
    Q2, 2018
    [UX1] Advanced mobile wallet (Android + iOS).
    [Dash4] Customer analytics.
    [Coin5] Loyalty program based on PTM/PTX.
    [Dev7] Lightning network integration.
    If the Lightning protocol is implemented by the community by 2019Q1.
  • 9
    Q3, 2018
    [Dev2] Integration with decentralized exchanges.
    [Dev7] Integration with decentralized marketplaces.
    [Dash4] [Coin5] Loyalty dashboard.
  • 10
    Q4, 2018
    [UX1] NFC wallet support.
    [Dev1] Support for Ledger, Trezor and other hardware wallets.

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