“Winter Is Coming” - How the creators of PayPodo want to support Online Businesses in a challenging and changing environment

Winter Is Coming?

How the creators of PayPodo want to support Online Businesses in a challenging and changing environment

Some people in the lockdown may have felt that in 2020 the world takes a break from stormy changes and technology driven disruptions affecting and infecting all areas of our daily life. But as in Game of Thrones, where for long time playgroundsplayers and their goals remained unclear, this idea of break might be more like a breath of air or a catalyst that brings about an even faster end to old overcome structures while their established institutions stand under increasing attackappearing increasingly unstable, helpless, haphazard 

In the following, we want to look closer at what the effects of these and other global trends might be for various online businesses and how their players position themselves, especially when interacting with various financial services: 

We are convinced that people, in the COVID-19 pandemic people, goods and services are becoming more digital, while online and offline banks and other financial institutions can barely meet resulting changes in clients’ needs and wants. The banking sector is rather focused on fighting against dwindling margins leaving little space to update their aged IT infrastructure and lacking in customer centric, innovative products. 

On the other side we have Payment Service providers: They are vital for online businesses to access Visa, Mastercard or PayPal, creating themselves almost a walled gardenThis sector stands out mostly for its unclear service offering and fee schedule. So it is hard for online businesses to find the one which suits their needs.

What both, banking and Payment Service Providers, are sharing though, is that, fraud and breach in security has become a regular challengeJust in the US, there were 1.7 million fraud complaints with $1.9 billion lost by consumers in 2019. Their key player position however makes them insensitive to innovate in this field. To put it differently and broaden the thought: neither of them offers online businesses or users a unified solution for connecting them at the point of sale.

And here the disruptive element of blockchain is kicking in…

Blockchain is not the question anymore but the answer and the next revolution because it is a goldmine of new opportunities as any information that is stored on its blocks is decentralized. It can help solving a number of problems as the peer-to-peer network makes transactions on the chain immutable, secure, verifiable, resilient, and transparent. This gives a sound reason to believe that moving digital payments and banking services to blockchain is the solution.

Statistics show that as of 2020, the value of the blockchain market stands at USD 3.0 billion. The expected growth for the market by 2025 will increase 13 times and be valued at USD 39.7 billion. grandviewresearch.com reports that around 40% of the blockchain market share is owned by the financial sector. Similarly, the growth of users who have wallets on the blockchain stands at 51 million in 2020. The number is forecasted to almost double up by the end of 2024 and reach 93 million wallets.

By understanding all of that the creators of PayPodo want to merge financial environments, like banking and payment servicing, on Blockchain and create a product vision operating along the needs and wants of the community: 

PayPodo will offer more than just another payment service solution in a checkout process or another bank account. PayPodo is modular platform based on blockchain technology on which users and online businesses grow together as a community and exchange goods and services in a data safe environment. This will help the business side to better understand what their clients want and need to offer and promote better products or services. So in essence, PayPodo wants to make not only banking and payment servicing real-time but cheaperimmutable but faster, both with high security standards on a user friendly dashboard, but also it wants to make it fun and value added for its users, when they are enjoying great deals offered to their community. 

Be in good companionship

MasterCard
VISA
SEPA
SWIFT
PCI Security Standards Council

Be in good companionship

MasterCard
VISA
SEPA
SWIFT
PCI Security Standards Council

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PayPodo operates under CustomHash AG, a company registered in Germany with Legal Entity Identifier 391200VTCFSYUNN7YA32 and with offices at Lise-Meitner-Str. 45/A, 10589 Berlin, Germany. CustomHash AG is in authorized Electronic Money Institution agent working under Verified Payments UAB (Licence No. 27).