Meet DIMPAY: The Future of Cryptocurrency Payments

December 12th, 2017 at 9:00 am UTC · 4 min read

A payment system was conceived to offer a financial solution to the 2 billion people that do not benefit from bank services or bank accounts. DIMPAY is the system we’re talking about here. DIMPAY is a NEM blockchain based platform made for fast and secure online financial transactions which can be executed from anyplace on the globe.

The implementation of such technology guarantees that the offered services will be easy on every budget, instantaneous and error-free. No third party ledger will be needed for any of transactions.

This platform will facilitate peer to peer, business to business, consumer to business and business to consumer transactions.

About the DIM Ecosystem

DIMPAY is a pilot project of the DIM Foundation which will exist and function independently from other existing parts of the DIM Ecosystem. DIMPAY’s development will be exclusively outsourced to the DIM Foundation. This is to make sure that the DIM Ecosystem remains decentralized at operational level.

The other components of this ecosystem are the HYBRID Stock Exchange (HYBSE) and WISE Consulting Ltd.  HYBSE is a blockchain based platform which enables the user to trade stocks, cryptocurrencies and electronic assets. WISE Consulting acts as an exchange which handles the process of withdrawing funds into the user’s account and then arrange for it to be relocated in his bank account.

DIMPAY and its two wallets

Just as the DIM Ecosystem is made from more parts, so is DIMPAY. It is comprised of DEPOTWALLET, mobile DEPOTWALLET and the DIM Debit Card.

DEPOTWALLET is the part of DIMPAY that acts as a virtual wallet for the user’s assets, enabling him to sell, buy, hold and manage said assets. The mobile DEPOTWALLET is much like the web app, and will be first tested in beta form, afterwards having its security system upgraded and software features updated.

The DIMPAY Card

The conversion of available DIMCOINS and cryptocurrencies from the DEPOTWALLET into DIM currencies can be made by the owner of the DIM Debit Card. DIM currencies can be used to make buys in the online domain or in real life stores.

Private and Business Accounts

If you subscribe to this account, you will have total control over your crypto funds and assets. This account will be connected to your DEPOTWALLET address. Payments can be made whenever and wherever you desire, without having to rely on physical funds.

These are the most prominent features that come with using this account:

  • make everyday transactions, like sending remittance
  • make an order for recurring payments such as rent and insurance
  • engage in point of sales payments
  • engage in carrier payments
  • view and administer the funds and cryptonized assets in the DEPOTWALLET
  • receive guarantees (such as those issued by the bank to a creditor)
  • execute direct debit procedures (creditors deduct the amount directly from the DEPOTWALLET account)

The Business Account

This account keeps the user connected to his business’ development, by allowing him to track his inventory and transactions. The account holder can manage his customer’s shopping and checkout, decide if he should receive invoices or notifications. There will be added further types of invoices and types of billing.

The functions of this account are:

  • Receiving invoice status updates
  • Making salary payments
  • Creating an invoice
  • Making expense payments
  • Verifying the balance and funds available in the account
  • Tracking the income and expenditure from the account
  • State the current financial positions (such as balance sheet, cash flow)
  • Plenty of billing options

Information about the ICO launch

For DIMPAY to reach its full potential, more funding would be needed. The involvement of the crypto community could assist DIMPAY’s developmental process and complete integration as a functional part of the DIM Ecosystem. As a consequence, those in possession of DIMCOINs will have more to gain due the potential increase of this currency.

The starting date for ICO is the 7th of December and the ending date will be the 18th of December. The maximum target that is desired is that of 1,500 BTC (Bitcoins). There is a minimum purchase entry for those interested in partaking in this event and it is of 1 DIMCOIN. There are no maximum purchasing limits.

The accepted cryptocurrency for ICO are Bitcoin, Ethereum and NEM.

There are bonuses available for certain set dates:

  • 25% (35% for those using NEM cryptocurrency) date: 4th -6th of December
  • 10% (20% for those using NEM cryptocurrency) date: 7th -12th of December
  • 5% (15% for those using NEM cryptocurrency) date: 13th -18th of December

Funds resulting from the ICO event will be redistributed in various areas of the DIMPAY structure for further improvement.

The development of this platform has garnered quite some attention since its appearance, and it is sure that it will attract even more clients that wish to reap the benefits of decentralized payments.

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