Payment System and QR Code Utilization
YU Token improves the accessibility of blockchain payments through a QR code-based payment system. QR code payments are faster, more secure, and more cost-effective than traditional credit card and cash payment systems.
1) QR Code-Based Payment Method
Users launch the YU Token-compatible mobile web app and scan the QR code, which automatically activates the payment window.
The payment amount is auto-filled, and users simply confirm the transaction to complete the payment.
Transaction data is recorded on the blockchain, preventing manipulation and duplicate payments.
2) Advantages of QR Code Payments
No POS (Point of Sale) terminal required → Small businesses can accept payments with just a QR code, eliminating additional costs.
Faster transaction speed → Unlike credit card payments, no approval process is needed, and transactions are instantly processed via Smart Contracts.
Offline functionality → Even in areas with unstable internet connections, transactions can be processed using a pre-stored QR code.
3) Comparison with Traditional Payment Systems
Setup Cost
Requires a POS terminal (costing at least hundreds of dollars)
Payments can be completed with a single QR code
Operational Fees
Card issuer and payment gateway (PG) fees apply
No fees or minimal transaction costs
Ease of Use
Requires card insertion and approval
Instant payment with a QR code scan
4) Expansion Potential of QR Code Payments
QR code-based payments are a key element in the widespread adoption of YU Token and can be integrated into various services in the future.
Cashierless stores and vending machines → Automatic payments via QR code scans.
Digital content and subscription services → Seamless QR code-based recurring monthly payments.
Cross-border payments and remittances → Users can make direct payments and remittances internationally via QR codes.
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