Ripple’s director of product is rolling out the beta version of Payburner, an XRP-based e-commerce payment platform.

In a new Twitter thread, Craig DeWitt, says Payburner is designed to make it extremely easy to send and receive instant global payments. The new product, which started as DeWitt’s side project, functions as a non-custodial wallet. DeWitt says the responsibility of safely storing the funds falls on the users as Payburner won’t have access to their passwords.

Payburner also allows users to send and receive payments using PayID. Users can set up their PayID upon sign up which they can share to enable instant global payments. To send payment, users can simply input the PayID of the recipient, enter the amount of XRP to send, and click send. To request payment, users can input the PayID of the person they’re requesting money from, enter the amount requested, and add an optional message.

Source: Medium

The platform also offers one-click e-commerce payment capabilities. DeWitt says the merchant must have a Payburner account to enjoy the easy-to-use checkout feature. To facilitate the process, the Ripple executive points out that they are done integrating the Payburner plugin with WordPress, making it available to approximately 455,000,000 websites.

To keep the business sustainable, DeWitt says they plan to charge a minimal fee from merchants.

“We expect to make money from the one-click merchant payout experience by requesting payments from merchants at 1% of their received XRP e-commerce purchases. Peer to peer payments and peer to peer requests are not charged any fee.

Payburner does not have the ability to withdraw funds from any account and we are not in the middle of any transactions, so we send requests to merchants for fee collection.”

DeWitt notes that the Payburner plugin currently supports Chrome and Brave browsers with the promise that the platform will be available in more browsers and iOS and Android apps.

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(Excerpt) Read more Here | 2020-07-26 13:00:28
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