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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
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On this page
  • Workflow
  • Invoice Generation
  • Dynamic Payment Artifacts
  • Transaction Initialization
  • On-Chain Verification:
  • Transaction Finalization
  • Security Features

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  1. Introduction

Protocol

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Last updated 5 months ago

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Workflow

The SimplePay Transaction Protocol delineates a sophisticated framework for cryptocurrency-based payment processing, leveraging the immutable and decentralized properties of blockchain technology. By eschewing custodial intermediaries and prioritizing seamless integration, this protocol exemplifies a paradigm shift in digital commerce, offering enhanced security, operational efficiency, and user-centric adaptability.


Invoice Generation

Merchants instantiate a payment request through the Simple Console interface or programmatically via the API.

An invoice encapsulates the requisite transactional parameters, including:

  • Monetary Value: The precise cryptocurrency denomination required.

  • Asset Specification: The digital token (e.g., BTC, ETH) and corresponding blockchain network.

  • Ancillary Metadata: Supplementary identifiers such as client IDs or descriptive narratives, augmenting the invoice's contextual relevance in Payload field.

This stage establishes a deterministic reference for subsequent payment validation.


Dynamic Payment Artifacts

Upon invoice instantiation, the system generates:

  • Hyperlinked Payment Gateway: A URL enabling payment execution.

  • Encoded QR Artifact: A graphical abstraction facilitating mobile-first payment initiation.

These artifacts are disseminated to end-users via merchant-defined communication channels, enhancing accessibility and convenience.


Transaction Initialization

Users interact with the provided artifacts using compliant cryptocurrency wallets.

The wallet auto-populates key transactional attributes, including:

  • Recipient blockchain address.

  • Exact payment quantum.

  • Token denomination, ensuring network compatibility.

User validation triggers blockchain propagation of the payment intent.


On-Chain Verification:

The protocol executes real-time interrogation of the blockchain ledger to ascertain:

  • Concordance between remittance and invoice specifications.

  • Transactional integrity, ensuring funds are routed to the designated address.

Any anomalies prompt corrective feedback mechanisms, preserving transactional fidelity.


Transaction Finalization

Post-verification, the invoice transitions to a "Success" state.

Merchant interfaces (e.g., dashboard, webhook notifications) reflect the updated status, facilitating:

  • Immediate acknowledgment of payment receipt.

  • Integration into auxiliary workflows such as inventory release or service provisioning.

All transactional data is archived within the protocol's analytics suite for longitudinal assessment and compliance verification.


Security Features

  • Blockchain Transparency: All transactions are visible on the blockchain for auditability.

  • End-to-End Encryption: Secures data exchange between users and merchants.


Non-Custodial Model: Merchants receive funds

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directly into their wallets
Security section
Security
Collected data