What is the XMG Payment Portal?

The XMG Payment Portal is a system that allows a merchant, website owner or business to transact commerce using XMG tokens anywhere in the world. The system is a powerful tool where it can be customized to meet the needs of the business, they can integrate their own traditional payment methods into the system along side their Pecu digital wallet or use it as an XMG token only payment portal.

Since XMG tokens are stable in nature and pegged to and derive their pricing from the designated fiat currency they may represent, there is little concern as it relates to volatility.

The XMG Payment Portal will be integrated into mini-programs on mChatHive for a  secure and seamless experience for members and merchants. All XMG token transactions are on-chain and this provides the utmost transparency.

How does the XMG Payment Portal Work?

The XMG Payment Portal works as a conduit between traditional payment methods and digital payment methods. It works as a tool where a merchant can connect a traditional payment method along side a digital payment method, in this case having their Pecu Wallet connected to the payment portal on one end and traditional methods such as a credit card processor on the other end.

The XMG Payment Portal does not process the transactions, it is a tool that allows the transactions to occur securely and seamlessly on-chain.

For instance let’s say that Sally wanted to acquire XMG tokens to swap for another digital asset on a decentralized exchange or for another purpose. Then Sally would need a merchant who offers XMG tokens utilizing the payment portal.

So Sally goes to that merchant’s payment portal, connects her Pecu wallet and then uses whatever traditional means that the merchant allows to acquire the XMG tokens. The payment in a lightning method moves XMG tokens from the Merchant to Sally;s Pecu wallet in a seamless way. Now Sally can use her XMG tokens where available to be used.

Now the XMG Payment Portal can also be used as a pure digital asset payment portal solely for XMG tokens, it is up to the merchant what use it for, it could be both.

How do Merchants get the XMG Payment Portal?

All merchants have to apply for the XMG Payment Portal to meet the AML & KYC standards in place and submit the non-refundable verification fee in XMG Tokens (learn more about fees here). Then once approved they will get their XMG Payment Portal tool box that is specific to them, they can connect their wallet and traditional payment methods if required.

Simple and Transparent Integration

The XMG Digital Asset Network will have tools that will allow exchanges, payment portals and platforms of all sorts to simply integrate the XMG tokens with their ecosystem.

XMG Tokens will offer liquidity and stability on decentralized and centralized exchanges. This will give traders access to a greater array of opportunities.

XMG Tokens can become a value add for merchants who integrate them, as it can open up an additional consumer base and growth opportunities.

XMG Tokens can become a value add for exchanges especially when the tokens are built on various blockchain networks, promoting cross-chain interoperability.