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SimplePay
SimplePay
  • Introduction
    • Overview
    • Core concepts
      • Transparency
      • Non-Custodial
      • Direct payments
      • Lowest Fees
    • Protocol
    • Security
      • Collected data
  • GETTING STARTED
    • Create an App
    • Setup Client
      • Widget
    • Setup Server
      • Webhooks
    • No-Code
      • Web and Telegram Store
  • Javascript SDK
    • Introduction
    • Services
      • Cryptocurrency
      • Currency
      • Invoice
  • Components
    • Payment Widget
  • Simple ID
    • Auth.js integration Guide
  • API Documentation
    • Overview
    • Apps
      • Get App Info
      • Dev Mode
    • Wallets
    • Assets
      • Fiat Currency
      • Cryptocurrency
    • Products
    • Invoices
      • Methods
    • Transactions
      • Page 1
    • Billing
  • Referral Program
    • 💰Referral Program Basics
  • Legal
    • 📄Terms of Use
    • 🔏Privacy Policy
    • 🍪Cookies
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On this page
  • Introduction
  • Why SimplePay Offers the Lowest Fees
  • Non-Custodial, P2P Transactions
  • Efficient Protocol Design
  • How We Collect Fees
  • Pay-As-You-Go Model
  • Monthly Billing Cycle
  • Key Benefits
  • For Merchants
  • For Customers
  • Interactive Breakdown
  • Glossary

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  1. Introduction
  2. Core concepts

Lowest Fees

Introduction

SimplePay sets a new standard in payment processing by offering the lowest transaction fee of just 0.4% per successful transaction. Our innovative non-custodial, peer-to-peer (P2P) payment protocol minimizes intermediary costs, allowing merchants to retain more of their hard-earned revenue. Let’s break down how this works and why our fee structure benefits you.


Why SimplePay Offers the Lowest Fees

Non-Custodial, P2P Transactions

Our payment system eliminates the need for intermediaries. By leveraging blockchain technology, all payments are processed directly between customers and merchants, which means:

  • No third-party involvement: Reduces operational overhead.

  • Blockchain-based security: Ensures trust and transparency.

  • Efficient processing: Minimizes additional costs tied to custodial systems.

Key Advantage: Without intermediaries, we can focus on providing merchants with the lowest possible fees while maintaining top-tier security.

Efficient Protocol Design

Our system is designed to maximize efficiency:

  • Direct Settlements: Payments are routed directly to your wallet.

  • Simplified Infrastructure: Streamlined architecture reduces unnecessary costs.

  • Fixed Fee Structure: No hidden charges or additional service fees.


How We Collect Fees

Pay-As-You-Go Model

SimplePay operates on a flexible and transparent pay-as-you-go model:

  • Only pay for successful transactions: No upfront fees or fixed monthly costs.

  • Transparent billing: Fees are calculated based on transaction volume and applied only to completed payments.

Monthly Billing Cycle

We bill merchants on a monthly basis, ensuring a hassle-free experience:

  • Billing Date: Fees are collected on the 1st of each month.

  • Invoice Details:

    • Includes a breakdown of successful transactions from the previous month.

    • Accessible via the merchant dashboard for full transparency.

Example: If you processed $10,000 in payments in a month, your fee would be $40 (0.4%).


Key Benefits

For Merchants

  • Cost-Effective: Save more with a low 0.4% fee.

  • Scalable: Perfect for businesses of all sizes, from small startups to large enterprises.

  • No Upfront Commitments: Pay only for what you use.

For Customers

  • Better Pricing: Merchants can pass savings on to their customers.

  • Transparent Transactions: Blockchain ensures clarity and trust.


Interactive Breakdown

Transaction Volume

Fee (0.4%)

$1,000

$4.00

$10,000

$40.00

$100,000

$400.00

The more you process, the more you save compared to traditional payment systems charging 2-3%.


Glossary

  • Non-Custodial: A system where funds are not held by third parties, ensuring direct ownership and control.

  • P2P (Peer-to-Peer): Direct transactions between two parties without intermediaries.

  • Pay-As-You-Go: A flexible billing model based on usage, with no upfront costs.

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Last updated 5 months ago

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