Metalpay may just Disrupt Entire Online Payment Industry

Metalpay may just Disrupt Entire Online Payment Industry

Cryptocurrency Payment
April 2, 2018 by Akshita Ghusingha

Metalpay is a Payments-Based Cryptocurrency and Incentivization Network. Not only does it allow and reward payments to motivate business transactions, but it also has a well-functioning banking system. For this, Metal has a well-featured banking system and a cryptosystem with US-based FDIC insured accounts to function. The features provided by Metal Play App are one-of-a-kind and innovative features, introduced on the blockchain for the first time.

Metal Play app is one of the apps that allow users to send and receive money on the network. But it is the first app to reward users to make payments. On Metal Play, when users and receivers carry out peer-to-peer payments or pay for any goods or services they are instantly rewarded by tokens on the network.

Moreover, Metalpay has a new major feature where it allows users to convert fiat currencies into cryptocurrencies (and vice-versa), and use the likewise currencies to make payments. It means users can buy a large number of cryptocurrencies in the Metal app, by using their bank account. Moreover, if users are not comfortable using their own bank account, they can make one in the Metal app and use it. In this sense, Metalpay is an innovative idea backed by real business-bone.

How does the money conversion work?

Metalpay is the first cryptocurrency platform to allow consumers to link their debit and credit cards with its platform to enable them to send money. It believes that while the card-payment has been on the rise ever since the usage of cryptocurrency is in bloom as well. So integrating these two would be revolutionary. Metalpay allows users to use their debit/credit card for payment but also encourages the usage of cryptocurrency as well.

For the conversion values, Metalpay pegs digital currency to fiat currency to neutralize price fluctuations. This is a necessary step to simplify the process, as most common people do not understand how the mechanics of Bitcoin transactions work.

With concerns about security and hacking-threats, the platform utilizes various features – multi-signature technology with Bitcoin, Omni layer and other alternative cryptocurrencies.

Features of the Metal Play App

The platform also retains old and basic features of blockchain networks such as peer-to-peer transaction, but also has some new features:

PoPP (Proof of Processed Payment)

The developers of Metal Platform believe that the current system in blockchain emphasis on punishments over incentives. Moreover, it is out of reach of a layman. For users to enter the blockchain community, they “must have a fundamental understanding of the software that it runs on, the best security practices, ability to get in and out, avoid fluctuation and find the lowest possible fees”. But it makes the system too strict to be used extensively.

Therefore, Metalpay uses a PoPP (Proof of Processed Payment) system to simplify and incentivize the blockchain. Primarily, it is used to identify the users and distribute a new currency in the system. But Metal also rewards users and merchants while making transactions. And it incentivizes people to leave fiat currency and make cryptocurrency more widely used.

To identify the customer and make payments, Metal requires three steps. First, it requires social security number or passport ID for identification software. Second, it uses a photo on file (selfie, document picture, etc). Third, it links a credit or debit card number in preparation for processing a payment. But if a user does not want to use his credit or debit card, email and invoice credit or debit can be used. After putting the details, Metalpay initiates a payment using proprietary anti-money-laundering (AML) and anti-fraud technology. The payment (decline/accept) is usually made within a minute.

Users get 5% token reward on every transaction. For instance, if a user sends $100 to another account, she gets 5 MTL tokens as a reward. Metal aims to make virtual currency “usage beyond platform-based services” and make it useful for laymen.


Metalpay works on the Ethereum blockchain to implement a fair distribution model. It uses Ethash as its Proof-of-Work for security. The Ethereum foundation recognizes that ASICs lead to the centralization of power on the blockchain. But ASIC-resistant scheme makes mining accessible to the layman. Therefore, Metal uses Proof-of-Work simply slow down the centralization and the inability to participate in consumer hardware for the time being.


The demand for inter-connected blockchains is on the rise, and interoperability has become popular. Metal has recognized this need and will use inter-blockchain exchanges to transfer between multiple cryptocurrencies and crypto assets.

Privacy-based tokens

Metal also recognizes the need for privacy-based tokens. So it will be supporting tokens like DASH, Monero and Zcash, which are privacy and anonymity-oriented.

E-commerce platform

Metal will support online shopping and will provide Metal rewards to incentivize shopping on its platform. Consumers can save up to 4-5% if they buy products on Metal. It will be the key market differentiator from other e-commerce sites.


Metalpay will use the Escrow-based multisignature wallet for marketplace or auction purposes. Escrow is a trusted third-party that holds funds securely in an Escrow account, while the transaction is being made. As soon as the transaction is completed, funds are transferred respectively.

Loan product

The lending platform of Metalpay will be tied to escrow offering. Borrowers will be rated based on Metal rewards. Higher ratings would allow them to get better and easier loans on the platform.

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