SavAct announces its own payment system
- Antonio Anderson
- November 10, 2021
- Press Release
- 0 Comments
SavAct offers users its own decentralized payment solution, allowing the seller and the buyer to interact securely, without fear of fraud from one or the other side.
SavAct is a cryptocurrency project that allows using a smart contract to bind goods, services and other products for payment only if the seller fulfills his obligations in a quality manner.
The user has the ability to invalidate a payment transaction for a product or service within a certain period of time if the seller violates any conditions, such as the quality of the product. In such a case, the funds sent to the seller are withdrawn by the platform and distributed between the platform’s native token holders and miners, which supports the development of the system.
With such a mechanism, SavAct preserves the advantages of cryptocurrencies such as anonymity and decentralization, but guarantees users security during the transaction.
SavAct does not require registration or installation of an application, the user only needs to enter the wallet address and the transaction amount, as well as the term in which the seller must fulfill its obligations. This can also be done using a QR code.
For vendors, SavAct is more profitable to use than, for example, PayPal and Amazon Pay,as savings on merchant fees are up to 78%. This allows to reduce the retail price of low-priced items to less than half, which also makes it a win-win solution for customers.
You can find more details about SavAct on the official website: https://savact.com/