AMA Recap: CRYPTO MINERS X MI PAYMENT

MiPayment is a merchant reward token that has already partnered with MiCamp, a Fortune 5000 payment processor from Arizona that currently services over 25 thousand merchants and processes over 15 billion each year. We are going to be listed on MiCamps upcoming payment gateway, “MiPayment Choice” as their preferred tender type and the exclusive option that has baked in merchant rewards. MiPayment already has large marketing plans that include articles in Cointelegraph and Forbes and featured interviews on Bloomberg and Fox News facilitated by a Nasdaq anchor before the public pre-sale goes live in a month’s time. We are aiming high and we’re excited to get everyone in on the ground floor. MiPayment sees the need for a utility token (cryptocurrency) that is capable of meeting global merchant processing demands. To do this the token should be automatically integrated into the merchant payment solutions that are already in use, completely removing the complexity and time required with setup.

We hosted an AMA session with MiPayment on 19th April.

Miss Uzma was the host from Crypto Miners and Mr. Phil was the guest. He shared delightful knowledge and unique features of MiPayment.
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Segment 1️⃣: Introduction

Uzma:
Hello Everyone 👋
Welcome to the AMA session with MiPayment

Welcoming our guests Mr Phil

Phil:
Hello everyone!! thanks for having us!

Uzma:
Welcome here 🤗0

Phil:
We wernt expecting a text format but were compiling the answers as we speak, so please be patient with us.

Uzma:
Yeah. No worries 🙌🏻

Phil:
Happy to speak to you all!

Uzma:
So lets get started without any further delay bcz we already got some late

1) Can you give a brief explanation about ‘MiPayment’ .What popped up in your mind to create such a platform in this Space?

Phil:
Our co-founders had the idea to create MiPay as an alternative to the traditional payment processing space, transacting in crypto needs to be more readily available, cheaper and efficient so the masses can more readily adopt the technology.
Also, the connection we had to MiCamp made the choice easy

Overview:

Capturing sales businesses can be difficult, as very few merchants offer the ability to pay with cryptocurrencies to service a global customer base (ie. Bitcoin, Ethereum, Litecoin, Tether, Binance coin, etc.). MiPayment Merchant Payment Gateway (MMPG) is the solution to these problems. MMPG is a scalable point-of-sale system capable of accepting any cryptocurrency as a payment method from a global user base and depositing funds directly into a merchant’s wallet. MMPG utilizes secure blockchain technology to facilitate and record all transactions for affiliated merchants around the
globe. This transaction data is compiled and displayed in relation to each MiPayment Token wallet, providing full transparency for both the payment processing network and each individual merchant. Not only does the MMPG provide merchants with a universal crypto point-of-sale system, but it rewards merchants with cash back for each transaction in the form of MiPayment Tokens. Cash back rewards vary corresponding to a percentage of the transaction value processed by each individual merchant. In this way, merchants are encouraged to process higher volumes through the MiPayment network, increasing adoption and driving token price.

The MiPayment Solution:

MiPayment sees the need for a utility token (cryptocurrency) that is capable of meeting global merchant processing demands. To do this the token should be automatically integrated into the merchant payment solutions that are already in use, completely removing the complexity and time required with setup.

Uzma:
2) What are your main features and advantages that discern you from other projects?

Phil:
• Our partnership with MiCamp, 15 billion processed last year and over 20k merchants already on board with this project. We will be listed on their payment gateway “MiPayment Choice” and have reach to all of their processing partners.
• Our app will have the capabilities to accept any crypto with very low on chain fees and natively transacted.
• The app will have an invoicing function so merchants can keep track of their payments and transactions nicely
• Covid relief supper vault — MiPay will essentially be paying merchants to transact with our service as a larger portion of reflections will go directly to approved merchant accounts.

We are also a Waves asset, giving is the cross chain functionality as well as scaleability, speed and cost effectiveness providing the ability to service the global community.

Uzma:
When the app will release🤔

Khan:
Web version is up now. And the mobile version will be ready within 60 days from now

Uzma:
Great 👍

Lets move to the next question

3) How has the experience and background of your team been effective in the success of your project so far?

Phil:
Our co-founders have a history working in the crypto and blockchain industry but more importantly our partner, MiCamp has been doing payment processing for many years, they are also a fortune 5000 company.
Our combined crypto and payment processing experience makes for a great match and complete team.

Uzma:
4) Now Share us about your Native token, What are the some of utilities of $MIPAY Token in Your Ecosystem? And if possible share to us the Tokenomics

Khan:
Various rules, formulas and utilities are baked into the function of the token and Mipayment to realize economically desired outcomes. The token has a fixed supply of 1,000,000,000 tokens enabling the token’s economics to remain within a zero sum price structure.

By utilizing the Waves blockchain and multiple interchain bridges, MiPayment token can reach transaction speeds of more than 100 transactions per millisecond concurrently, with capabilities of near instant payment settlement on chain, at extremely low fees per token movement. The token’s architecture allows for central and decentralized interactions across multiple cloud based applications to make the fiat to crypto on and off ramps seamless.

Uzma:
5) How long did it take to develop this project? What plans do you have for the future? And what can we expect from MiPayment? If possible could you please share road map with us.

Phil:
• We have been developing this project for over 8 months now, creating the wallet app and solidifying our partnership with MiCamp.
• We expect MiPayment to be the preferred token of choice for merchants across the globe, waves blockchain provides us the speed and cost effectiveness to service underserved regions making transacting with our service cost effective, scaleable and quick
• Massive marketing: The project team and consultants have a robust marketing plan ready to go, the first stage is AMAs, followed by big press in the form of Bloomberg, Forbes, NASDAQ and FOX news. Then there will be crypto focused marketing including cointelegraph etc. The community will grow organically with no bots or mass adds.

As the project grows so will our need to onboard merchants and payment processors.
For this phase we will be continuing the big press interviews and press releases as well and bolstering the crypto space with the same. Our number one goal at this phase is merchant onboarding and this will be the focus of our marketing plan.

Uzma:
That’s the end of introduction segment ☑️

Now moving to second segment — Twitter Questions

If you’re ready 😃

Phil:
Thank you!! And yes, ready to rock! 🙂

Segment 2️⃣: Twitter Questions

Uzma:
1) MiPayment Token has partnered with a US based payment processing company where they have agreed to add MiPayment Token (MIPAY) as their default crypto payment method. Are there other payment methods in your ecosystem? What would be the main difference between MiPayment Token and all its competitors? What is the % applied to fixed or variable rates?

Phil:
In our ecosystem we are the main merchant reward token, and the only merchant reward focused token to be offered. Our main point of difference is the partnership with MiCamp as well as the development of the wallet app.

MiCamp comes in strong with over 15 billion in transactions and over 20K merchants. The wallet gives our merchants the ability to transact in any crypto currency on chain with very low fees making the reach of our project immense and useability a reality for the global community.

Imagine Eth to Eth transaction on chain for $0.05! That is what our wallet can do as long as it transacts within the MiPayment ecosystem.

As far as the fixed or variable rates I’m not 100% sure what you’re referring to, can someone clarify please?

Uzma:
2) What problem does Mi Payment focus on solving? What innovations and differences do you bring to the blockchain industry?

Phil:
We solve the problem of crypto becoming available to the masses at affordable transaction costs and highly reduced on-chain fees.

Our greatest innovation is the wallet application we have developed that allows us the ability to accept any crypto for again, the low cost fees, scalability and quickness. A large portion of the world lives on dollars a day and a 20$ ETH gas fee just isn’t feasible, we solve this issue with our wallet application and native ETH transactions of pennys on the dollar on-chain. It’s really something special.

Uzma:
3) In Phase 4 of your Roadmap, there’s a plan to integrate the #MiPayment token (meta version) into the Metaverse platform architecture. So can you tell us more about it, what does it mean? Are you also planning to join today’s trends → in METAVERSE gaming and NFTs?

Khan:
We plan to offer our services to all businesses in the Metaverse knowing that it’s going to be the norm of the future. As for Gaming and NFTs, we are also looking forward to integrating those businesses to the Mipayment Metaverse platform for fast and cost effective processing while having the rewards program in place.

Uzma:
4) We can swap all chains eth bnb btc to mipay token can u tell us more about d slippage and fee for this swap, Can u also share some details of step by step how to buy mipayment token on d app or website I’m a bit confused and new to d usage and will it support staking

Phil:
Yes, Waves gives us the ability to transact in any crypto on-chain and natively for immensely reduced fees, we only have a handful of them selected for now but we can add more as we need.

Our wallet interacts with a background exchange and again, the fees are minimal. Slippage for buying and selling will be approx 15% for selling and 5% for buying. I can include some images of our taxation structure.

Staking is not on the roadmap for now, but we may revisit that in the future.

How to buy MiPay

Using Crypto

- Connect your wallet in the drop down menu in the top right corner

- Choose how much you want to contribute in USD.

- Hit “Select your method payment”

- Choose what cryptocurrency you want to pay with.

- Confirm the transaction

- Select “Pay with connected wallet”

- This will complete the buy process and the crypto will be withdrawn from your connected wallet and tokens will be automatically added to your wallet

- IF the crypto is not taken from your wallet automatically, send the required amount to the address provided — this will complete the transaction

- Our process requires the use of a background exchange to convert your method of payment crypto into MIPAY tokens

- This process can take up to 15 min to complete so please be patient.

Using Credit Card

- Choose how much you want to contribute in USD.

- Hit “Select your method payment”

- Select “fiat account”

— Select “top up/add funds” and confirm

- Follow the RAMP procedures on screen

- Topping up with your credit card can take up to 24 hours to compete

- Once the transaction has been approved the fiat amount will show up on the top of the wallet page

- Once the funds have shown up, select the contribution amount

- Select the fiat account for method of payment

- Confirm the transaction and MIPAY tokens will show up in your wallet

- This process can take up to 20 min to complete so please be patient

- Transactions under $300 USD will not require KYC, but above $300 will require KYC.

- After KYC has been approved you will be able to contribute up to $10,000 USD

Uzma:
Twitter Questions ends here🙌🏻
Now moving to Live QnA

Phil:
LETS GO!!

Uzma:
lets go,

Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guest choose some best to answer)

1) Itz Abhi ⚡️:
Security should be the first priority so as I can see that the Private Presale is Live! where we can buy with lots of tokens like $BTC, $ETH, $BNB, $BSC, $WAVES, $USDT, $USDN, $USDC and mainly the Credit Card.

Q1. Do you have plans to add more crypto as payment systems?

Q2. Is our Credit Card safe? Which payment gateway is Mi Payment wallet using?

Phil:
A1. Yes, our dev has the ability to add any crypto, we just chose of the most popular ones for now. But AVAX, SOL, DOT or anything you prefer can be added easily.

A2. Yes the credit card processing is safe and handled by a third party https://ramp.network/

2) MAtin:
What are the most troublesome problem you’ve encountered while developing #MiPayment ?

Captain°°°° Scharief S:
Implementing security standards, especially for all blocking interactions.
The MiPayment token comes out with a production ready wallet application storing your wallet encrypted locally on your device. With the MiPayment wallet you will still have 100% control over your funds (i.e. own your private key) and will be able to handle all MiPayment interactions like buy, sell, confirm a purchase with any merchants or later on auto staking, through the wallet app.
Through the wallet app you will be able to buy with any crypto currency or fiat and sell into an cryptocurrency at any time.
The testing has been a great challenge, since it involves risking big amounts of development, test money making sure all cross chain interactions are production ready, that’s you don’t have in “regular” software development at all.

3) Matthew:
Do you have a community for NoN “English” speakers and are you a global project or not? Any Ambassador program plans available for different countries??

Phil:
Absolutely and great question!

This is our first AMA and as we build more momentum and traction we will be expanding to the major markets and languages as needed. You guys are early and we are growing organically so all in good time. But yes we have plans to service all markets and languages.

We will also be incorporating ambassador programs globally but strategically as we expand our merchant base. More details will be available through our telegram page as soon as it’s ready.

4) what about presale?

Phil:
Our presale is currently open on Mipaymentwallet.com !!

Please check it out, experience the wallet application and if you liked our presentation please contribute!

All of our buying and selling will happen through our wallet application as incorporation of our approved merchant wallets is a priority for the project team.

*This segment ends here*

Uzma:
Thankew so much for well detailed information about MiPayment
It was a pleasure to hosting an AMA with you ❤️

Is there anything else you want to share with us?

Phil:
Thank you so much Uzma! You were fantastic and we really enjoyed it!

If you guys have any more questions please join our channel and we’re always there for you!

Mipayment.io
Mipaymentwallet.com

Uzma:
Time to conclude this AMA session

If you want to learn more about MiPayment, here are some important links for you:

Website: www.mipayment.io
Twitter: https://twitter.com/mi_payment
Instagram: https://www.instagram.com/mipaymentgateway/
Facebook: https://www.facebook.com/Mi-Payment-Token-109774338193437/
Discord: https://discord.gg/6RkbsNVCCA
Telegram: https://t.me/mipaymentofficial