Collected data
SimplePay prioritizes user privacy and security by keeping sensitive information decentralized on the blockchain. On our side, we only store metadata necessary for smooth operations, analytics, and compliance. Here’s how it works:
Blockchain-Based Transactions
Actual transactions, including amounts, sender, and recipient addresses, are:
Recorded immutably on the blockchain.
Fully decentralized and auditable for transparency and security.
This means that transaction data is always available on the blockchain but remains out of SimplePay’s hands.
How Blockchain Helps
The blockchain acts as the primary record keeper, ensuring:
Integrity: Transactions cannot be tampered with.
Transparency: All transaction histories are publicly verifiable.
Metadata Stored by SimplePay
SimplePay only retains minimal metadata to keep things running smoothly. Here's what we store:
App Metadata
For apps created by SimplePay, we keep:
Field
Description
App Name
The official name of the merchant’s app.
Description
A short explanation of the app’s purpose.
Logo
The app’s logo for visual identification.
Website Link
A link to the app’s official website.
This data is visible to users to make their payment experience clearer and more professional.
Invoice Metadata
Every invoice carries a set of operational metadata:
Customer Address: Blockchain public address initiating the payment.
Merchant Address: Receiving wallet address of the merchant.
Invoice Amount: Exact amount specified in the invoice and current paid amount.
Payload: An optional, merchant-defined field for encoding additional information. This could include custom identifiers or context for internal use.
You can encrypt Payload while creating invoices, that means nobody except you could read transported data.
Product Metadata
When merchants upload products via the Products API, we store:
Product Name: Clear titles for easier identification.
Image: Product image, if provided.
Description: Optional details about the product.
Pricing Details: Metadata about product pricing set by the merchant.
This helps in presenting products accurately in invoices and storefronts.
Benefits of Stored Metadata
Why Metadata Matters
Privacy Protection: Sensitive payment details stay immutable on the blockchain.
Ease of Use: Metadata simplifies operations without compromising security.
Audit-Ready: Easy to generate transaction reports or track payments when needed.
Regulatory Compliance: Metadata supports legal reporting needs in various jurisdictions.
Example: If a merchant wants to report revenues to legal authority, SimplePay’s stored metadata helps align payments with tax declarations.
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