AIGO - Become a basis for cryptocurrency payments in the world

Juli 21, 2019

AIGO - Become a basis for cryptocurrency payments in the world

AIGOPay is developing a push payment protocol called AIGO AI-payment chain which will allow the usage of cryptocurrencies for any form of payment. Since AIGOPay will develop its network on Ethereum blockchain and will allow transactions in its own native currency — AIGO Tokens. The payment network will be extremely affordable for everybody.

The range of opportunities that AIGOPay is offering will be beneficial to all businesses, but they will have a particularly strong benefit for businesses in developing countries.

A Boon for Entrepreneurs in developing countries

Many developing countries have extremely weak social frameworks that offer little opportunity for entrepreneurs to reach their goals. In such countries, access to venture capital is usually limited to few who are already wealthy. As wages in such locations remain low, hopeful entrepreneurs are able to save up little fund. If the product they intend to offer is worthy of the market, they could be able to sell it. But they face a major setback — cost of processing payment.

Many small businesses in developed countries launch with the support of loans which allow them to sustain losses for a year or two. Yet businesses try to keep prices and margins low, and since the percent of a transaction charged by POS system and card network providers could be over 6% of sale value, businesses could be sustaining losses on some of their early sales. The goal of businesses during the early months, is to drive customer interest and to sustain that base for the time when prices are a bit higher and margins are profitable.

Such an operation is not a good option for small businesses in developing countries as there is little to no access to venture capital. Consequently, entrepreneurship in developing countries remain largely dried out.

AIGOPay’s Impact

Imagine that a small business operates on a 5% profit margin, which by the way is much higher than Walmart’s 2%, it could be making a loss on its payment transactions. However, if payment networks are so expensive and can justify their high costs by only claiming that their operations are expensive, then perhaps it’s time for an alternative. And AIGOPay is just the alternative small businesses have been looking for.

AIGOPay offers a great opportunity to small businesses by making the cost of transactions extremely low. This will have a good impact on small businesses, especially the ones from developing countries. With the kind of benefits AIGOPay is bringing to the market, entrepreneurs whose dreams had been squashed due to both the difficulty of accessing capital in their society and the ridiculously high fees of payment networks will finally have an opportunity to pursue their businesses.

AIGOPay makes costs of payment transaction low enough that small businesses in developing countries such as African countries won’t need to have a heavy reserve capital to sustain losses attributed to transaction fees.

A large portion of the world’s major existing retailers are not going to adopt payments in crypto currencies any time soon as they have well-established systems and they’d want to do a thorough analysis of the performance of others who do accept crypto payments. This means that small businesses in developing nations will have the opportunity to capitalize on the $400+ billion crypto market without facing interference from established companies, at least in the beginning.

Many small businesses in developing countries do not have the capital to sustain a foreign capital reserve or to even take currency risk. However, since AIGOPay allows such businesses to accept payments in just AIGO tokens tokens, it makes it possible for such small businesses to grow operations beyond their borders without having to consider problems of payments

AIGOPay is bringing benefits for small businesses across the world, and some of the most important beneficiaries will be the entrepreneurs in developing countries