VISO – Make Cryptocurrency Payments Easier
The VISO project is the first cryptocurrency payments acceptance project that utilizes an entire payment environment.
To set up uninterrupted payments acceptance, many businesses are forced to keep several fiscal cash registers, bank terminals from multiple banks, customer-loyalty maximization system devices, external printers to print receipts, bar code scanners, and accounting systems.
All of these are standalone devices. Nobody needs an additional solution that would enable the acceptance of cryptocurrency payments, especially as the laws of most countries expressly forbid the direct acceptance of cryptocurrency by merchants.
We simplify this whole system. Instead of all of these devices, we use the latest development called SMART terminal, which has the size of a regular bank terminal and combines all devices.
A device becomes a VISO SMART terminal through a software platform of our own development. We have conducted the certification of this equipment to make sure it complies with the PCI DSS payment system information safety standard, device keyboard-based PIN code entry standard, and contactless payment standard.
As a result, we have a device that is in full compliance with international payment systems requirements and that meets all of the customer’s compliance objectives with regard to the conduct of sales. Apart from that, s SMART terminal is simply convenient.
The whole VISO SMART terminals-based cryptocurrency acceptance process is implemented through the VISO Wallet and VISO Exchange.
The cryptocurrency accepted as payment is converted on the Exchange, and the sale itself takes place in national currency – in compliance with the law.
In this way, VISO SMART terminals come as a radical simplification of the everyday payment acceptance process and extend the spectrum of capabilities by accepting cryptocurrency as payment. But there is more to it.
VISO company provides infrastructure for the convenient accounting of payments. All payments made with cash, payment cards, or cryptocurrency are shown in a user account on the VISO website. This greatly simplifies the accounting and reconciliation for every checkout point. Using an easy store constructor in the user account, it is possible to create one’s own online store to accept cash-free payment card-based and cryptocurrency payments. This feature set is unique and is VISO Company’s know-how.
For private customers, the services of the bank, those of the cryptocurrency exchange, and those of cryptocurrency balances are combined into a single system through the VISO wallet. In the unified interface of the VISO wallet, the customer can set limits on all transaction types, buy and sell cryptocurrency, and choose currency to store funds. After completing an authentication procedure at the bank, you can significantly increase the limits on transactions, but to try VISO services, you only need to register online.
VISO is the first system that allows not only for opening virtual cards and ordering prepaid and conventional cards but also for issuing smartphone-based contact-free payment cards that unlock immediately after the client has opened a VISO wallet.
As VISO cards are issued under VISA and MasterCard regulations, they can be used for payments worldwide, not just with VISO terminals.
VISO is a solution to a number of problems. VISO resolves buyers’ problems by enabling buyers to make quick and convenient cryptocurrency payments at any point of sale accepting regular payment cards.
VISO resolves the problems of points of sale by letting points of sale take cryptocurrency as payment without breaking the laws banning direct sales of goods and services for cryptocurrency. Every step of the conversion occurs on our side, and the actual payment is made in regular currency. On top of everything else, VISO cuts equipment maintenance costs by combining a cash register, a payment terminal, and a bank terminal into a single device. VISO comes as a full-cycle payment system powered by the combined technologies of point-of-sale payments acceptance, regular currency payments and purchases, and cryptocurrency payment cards.
THE VISO ENVIRONMENT WILL COMPRISE THE FOLLOWING KEY ELEMENTS
1. A large network of SMART bank terminals combined with cash registers, which enables cash, credit card, or cryptocurrency purchases. The SMART-terminal network is to be installed all over Georgia.
2. VISO payment cards, which enable VISO Wallet payments in the Georgian lari, U.S. dollar, euro, and other fiat currencies or cryptocurrencies.
3. VISO Wallet, which combines conventional payment methods and VITO cryptocurrency into a single system.
4. VISO Exchange, which will serve as a cryptocurrency platform for the exchange of VITO for other cryptocurrencies, Georgian laris, U.S. dollars, and euros. The VISO system includes conventional credit and debit card payment technologies and cutting-edge payment technologies built around the use of cryptocurrency.
Combining traditional payment methods with cryptocurrency allows for substantial cuts in transactions costs for everyone involved and makes payments transparent. The system facilitates payments both at retail outlets and online. Furthermore, to all points of sales connected to the payment system, we provide a capability to launch online stores to sell goods and services with an option to use the VISO online payment system which allows for making sales using both conventional payment cards and cryptocurrency.
In addition, every SMART terminal serves as a point of accepting payments in favor of service suppliers, such as mobile phone operators, utilities, and others.
BASED ON VISO TECHNOLOGIES, THE FOLLOWING 4-BUSINESS-SEGMENT SYSTEM IS TO BE LAUNCHED
1. Acquiring business (a network of payment-accepting SMART terminals and VISO Shop);
2. Payment card business;
3. Third-party payments acceptance business;
4. Exchange-based cryptocurrency trading business.
VITO cryptocurrency’s distinguishing feature is a limited token issue. The issue takes place on the Waves platform. No VITO mining is possible.
The full amount of VITO blocks is issued at the time of the Token sale. This feature makes VITO cryptocurrency a scarce resource. There are no limits on trading cryptocurrency on external exchanges. Purchases in the VISO system can be made in other cryptocurrencies by exchanging them online through VITO cryptocurrency. This drives VITO cryptocurrency demand and sales.
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Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.