SpacePay Offers Instant Settlements, 0.5% Fees, Challenges Visa, Mastercard

SpacePay, a new player in the payment industry, is emerging as a potential challenger to traditional payment giants like Visa and Mastercard. The company aims to bridge the gap between the crypto world and traditional finance, making it easier for merchants to accept digital asset payments. SpacePay's unique approach includes a volatility protection mechanism that converts crypto into fiat currency of the merchant’s choice, addressing the fear of price fluctuations during or immediately after the transaction.

One of the key advantages of SpacePay is its speed and settlement times. Unlike Visa and Mastercard, which can take one to three days for the money to reach the store’s bank account, SpacePay offers instant settlement. This means stores get their money as soon as the customer pays, which can greatly benefit small businesses that need immediate access to funds.

Another significant advantage is the lower transaction fees. Visa and Mastercard charge stores around 1.5% to 3% for each payment, which can add up to a substantial amount for shops. In contrast, SpacePay charges just a 0.5% merchant fee per transaction, allowing stores to save money on fees and potentially offer better prices to customers.

SpacePay also offers flexibility across various cryptocurrencies. Unlike Visa and Mastercard, which only allow payments with traditional currency, SpacePay lets users pay with many different cryptocurrencies directly from their wallets. It works with more than 325 wallets, giving people more freedom to spend their money as they wish.

In terms of security and user control, SpacePay provides a higher level of protection compared to traditional payment methods. When using a card, the bank is in charge of your money and can block payments or freeze accounts if they suspect any suspicious activity. With SpacePay, users pay directly from their own wallets, staying in control of their funds and benefiting from strong security measures.

Regulatory compliance is another area where SpacePay aims to excel. The company ensures it adheres to the regulatory requirements for various countries, just like Visa and Mastercard. This addresses concerns about using crypto for fear of not following local laws or accidentally breaking them.

SpacePay's approach could make a significant difference in how we pay with crypto. It offers faster payments, lower fees, more choices, and better control of your money. While Visa and Mastercard remain major players, SpacePay shows that crypto can make payments easier and better for everyone. If SpacePay’s plan works, it could finally give crypto the chance to compete with the biggest names in payments.

For those interested in joining SpacePay early, the company is offering its SPY token during the presale. Users can connect their wallets on the presale website and purchase SPY tokens using various cryptocurrencies or their bank cards. Buying SPY tokens early could provide rewards such as loyalty bonuses, early access to new features, and a share of SpacePay’s revenue as it grows. If SpacePay becomes popular, early buyers could benefit as more stores start using crypto for payments.