Thanks all for participating in our MobiePay AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you.
CryptoNationIN Admin – Hey guys! We are joined by Roman Tsarovsky (CTO) @rtsar & Brad Townsend (Head of Partnerships) @bradleytownsend at MobiePay. We are glad to Invite you today 🙏😊
Brad – Hello Everyone, Great to be here
Roman – Hello! Thank you for having us! We are honored!
CryptoNationIN Admin – Before we start, I request you to please give an introduction 🙏
Brad – My name is Bradley, I have been working closely with mobie for over a year heading up the Business development side of the project and leading the partnerships.
My background is in growth and business development with an extensive business acumen, I have built an impressive network of both C-level executives and notable grass-roots thought leaders. I leverage these to strengthen the presence of new and running projects, supporting short term growth for sustainable long term development. Some of the latest projects I have advised are Ferrum, Orion and geeq.
Roman – My name is Roman and I am the CTO of Mobie. I have been working with mobie to bring the world the next generation of wallet technology that will empower everyone to bring crypto to their everyday lives.
My background is in blockchain, machine learning, automation and solving complex problems with technology. I have built complex solutions for some of the largest companies in the world today.
CryptoNationIN Admin – Thanks Bradley. Great, thanks Roman ✌️
Q1. To be able to pay using MobiePay, it is necessary that the seller is an affiliate of the platform? Is it possible to use MobiePay anywhere as if it were a debit card that is accepted worldwide?
Roman – NO we want to empower the world to benefit. anyone that sees value from our platform can download our wallet and transact on a day to day basis using their funds with local merchants. Eventually (very soon) we will have debit cards accepted worldwide.
Q2. How can non-crypto users make a payment for real life services like Transportation (Bus, Rail, Rideshare)… In your opinion, What are some difficulties for users outside of the cryptocurrency space when accessing Mobie Pay ?
Roman – We have partnered with over 350 name brand merchants that allow for our users to transact on a day to day basis using our platform. We have tried to remove all difficulties and empower the users with rewards and incentives allowing them to get cash back and access to loyalty programs.
Brad – We also facilitate for fiat, not just crypto.
Q3. How does the reward mechanism work when one uses your payment services? currently which FIAT currencies are active on the platform?
Brad – The rewards system is based on agreements with merchants, we will be releasing more details on this closer to launch, We have a tiered system depending on how much MBX will be staked by the user. Currently we have USD and EURO but are in the process on onboarding all major FIAT currencies.
Q4. As far I know that Stellar is an open-source network for currencies and payments . So Why does MobieCoin (MBX) built on Stellar Blockchain ? How Stellar better than typical blockchain-based systems ? Speed , transactions fee or more energy-efficient….?
Roman – Stellar empowers users to get access to low cost transactions, transparency and ability to transfer funds anywhere in the world. We are able to bring down costs to almost zero!!
Brad – Speed was one other major factor, with stellar settling low cost transactions in 2-5 seconds.
Q5. What are the coins already accepted as payment for MobiePay? Do you have any plan to add more coins as a mode of payment?
Roman – We accept Stellar, MBX and Fiat. We have over 50 coins in the pipeline. Platforms interested in adding their coin would simply reach out to us to discuss details and we would integrate with their solutions.
Brad – There will some announcements on this soon with projects we implementing co marketing and bringing a user base.
Q6. How is the MBX token used? How to keep motivated to hold MBX tokens for a long term?
Roman – MBX can be used in the Mobie wallet with other members in the community or at over 2500 locations through our partnered merchants. Look for anouncements on new partners being added on a weekly basis.
Q7. Your website says that “MobiePay provides proprietary data to merchants that can be used to market to customers” What kind of “data” do you mean? Data on customer behavior towards a product? Or personal data on prospective customers?
Brad – Hey Kevin, There will be an option in the application to turn this on and off if you dont want data collected, those who supply data will receive rewards for doing so, Location, payments and other data will be collected if a user wishes, if any data is given to merchants it is given anonymously with no details about the individuals users details.
Q8. Despite the fact that mobiePay provides the best comforts to its users in transactions, do you think the project is completely complete? Or what can you tell us about future advances and changes that they will make?
Brad – We are speaking to several Defi and Cefi pojects about offering in app interest on assets stored in mobie, there is alot more happening behind the scenes and we will spoke on those items individually when we are ready.
Q9. Can Mobiepay do offline transaction to do payment from person to person in real life? Can you share the calculation of Mobiepay fees in the platform?
Roman – We can do offline transactions through the use of prepaid transactions. If a user purchases something from a merchant and then goes in store to pay, they are able to redeem the funds for those goods. Other then that, we do not support offline transaction.
Q10. How to be motivated to use MobiePay? What are the benefits of using?
Roman – We empower users to get discounts at local merchants, get access to MBX rewards and get cash back.
Q11. Staking is the new trend. What staking options are available for $MBX token? Does Bithumb plan to launch any Staking program for $MBX soon? Are there any incentives for Staking with MobiePay?
Brad – Hello, We have had staking in our whitepaper for over a year, we will enable staking for different tiered rewards aswell as interest or rewards on stored assets.
Q12. MobiePay is an incredible DApp. But what makes it particularly different from other payment DApps? They all use Fiat and digital coins, but on MobiePay you can have even the most remote Fiat coins? Is your platform available for Latin America?
Roman – Mobie empowers everyday transactions. We have worked hard to bring over 300 brands to the mobiepay ecosystem. The platform is available world wide and you are able to transact with any of our partners.
Q13. Is Mobiepay planning to accept payment for credit / debit card ?, or maybe a local bank in each country?
Brad – Yes, we are implementing onboaring for CC,DC and direct bank deposits. Since we facilitate for fiat and crypto, we will also be building an in app currency exchange, this will enable user to swap their assets within the mobie ecosystem.
Q14. What is the long-term vision of this MobiePay project really? is it simply to achieve adoption in all existing markets and implement this financial system in the new world order?
Roman – We are working on POS, Affiliate, Gaming, and bringing every merchant onto the platform to empower our users to maximize the value through the platform.
Q15. What is the next goals of this project? Are you planning to release an application for iOS / Android users?
Brad – We will roll out our IOS and andriod application during Q1 of 2021.
Q16. With Visa or Mastercard, transactions are made in seconds but not settled in seconds. They always have chargebacks and other legacy issues. What will Mobie Pay do to avert all these for users?
Brad – One major item we focus on is eliminating chargebacks, we offer instant settlement for merchants and users.
Q17. It really seems strange to me that such a multifunctional platform has such low fees, so is MobiePay really a non-profit platform? only your users matter?
Brad – We make our money from the merchants and hand that onto our users.
Q18. What is the weaknesses of payment system these days that Mobiepay try to fix? Also most of payment system have problem of slow Transaction speed, how will Mobiepay solve these issues?
Roman – Speed, Cost, Trust, Access, and Reputation. We have really fast settlement times that empower you to have confidence within the platform.
Q19. What technology being used to help MobiePay bring a fast transaction? If transaction is fast, so transaction fee is higher too?
Brad – This is why we are based on stellar, low fess 100,000 transactions for less then a penny, and settled in 3-5 seconds.
Q20. Where is MobiePay used? Will MobiePay expand the global market?
Roman – Mobie is used globally and allows users to transact with fiat or crypto anywhere in the world.
Q21. How to be motivated to use MobiePay? What are the benefits of using?
Brad – when we launch, Cash back on Cash and major retailers globally, as well as earning rewards on stored assets.
Q22. I think that the main challenge for Mobeipay will be partnerships with the banks. How are you planning the integration with the current payment system, and more, how can you see as a good way to make Mobeipay worldwide integrated with all the banks, and there are a lot of different rules depending on the country’s governments?
Roman – We already have partnerships with some of the largest banks all over the world. These integrations allow our users to benefit from traditional banking systems and get access to our platform to empower their crypto spending.
Q23. Security and transparency are essentials for long-term development. How is the Mobie security system built? Can you demonstrate Mobie’s transparency?
Roman – Mobie has developed bank grade technology that is audited on a weekly basis to insure stability, security and with the use of blockchain empowers users with trust through transparency.
Q24. What is the GIG Economy? How does this mechanism and the integration with MobiePay work? Does this facilitate the purchase/sale of products? Is it as fast as ethereum transactions?
Brad – The gig economy is based on flexible, temporary, or freelance jobs, often involving connecting with clients or customers through an online platform. There are some major issues in the gig economy when it comes to Payments and mistreatment of payments, we have solutions that will solve this along with a simple and easy global mass pay function. This can facilitate for sales as influencers and content creators are part of the gig economy.
Q25. Has MobiePay’s smart contract been audited? Which company carried out the audit and what were its results?
Roman – Yes, We go through a complete audit on a weekly basis, and have all our blockchain technology audited by Solidified / Cryptronics.
Q26. I want to learn more about MobiePay ,but the information is very small, most of MobiePay social networks are less active, the community is relatively empty and less, what strategy does MobiePay team have to develop the community and maintain long-term user?
Roman – As we grow we are getting involved with communities all over the world to bring education and solutions to their area. We are always looking for strong active influencers in those areas who beleive in our solutions to expand our vision and access to the world. We have over 500 brand ambassadors that are helping us educate new teritories with these oportunities.
Q27. Can you explain what is MobieX? What is this feature use for? Recently I see Mobiepay mention gaming sector, What is the step Mobiepay will support in gaming platform?
Brad – Mobie X is the side of mobie that focuses on digital exchange of currencies, think of it as a simple currency exchange that has both fiat and crypto currency, allowing users to have exposure to different currencies at their finger tips.
As for the gaming sector, we are working with a few projects in the gaming industry on building custom payment solutions leveraging mobie inside their platforms, more announcements on this will coming in the coming months
Q28. What has been the most challenging part of developing of the MobiePay ? What is the biggest challenge you currently face in order to get MobiePay finalized?
Roman – Blockchain and Crypto is still very new and has had a lot of bad reputation. We have faced challenges seporating ourselves from the other companies that bring a negative nerative to this market. Education and expansion of MobiePay globally is alway a challange that we take on proudly.
Q29. Partnerships and communities are the key to success of projects, can you tell me how Mobie will expand partnerships and which markets will Mobie focus on?
Roman – We are expanding into the gaming markets with a focus on solving their needs and bringing day to day fiat and crypto transactions to our users day to day lives. We are working to have Mobie a name brand trusted solution to shop globally and locally.
Q30. MobiePay is an incredible DApp. But what makes it particularly different from other payment DApps? They all use Fiat and digital coins, but on MobiePay you can have even the most remote Fiat coins? Is your platform available for Latin America?
Brad – We have a large focus on emerging markets, while you currently cant use our payment apps in LATAM, we are in the process of securing some partners in the different jurisdictions to enable LATAM to be one of our primary launch zones.
Q31. Every coin is now doing DeFi, will $ MBX also be applicable on DeFi? What are your plans for DeFi?
Roman – We definelty have some DeFi protocals and solutions we are working on to empower the world. Rather then focusing on hype and keywords. Mobie focuses on solutions and only announces them when we have successfuly brought these solutions to market. Stay tooned for new announcements and solutions weekly.
Q32. Will your payment infrastructure be integrated into POS systems soon? Can users get transaction fee discounts when paying with MobiePay?
Brad – We are already directly integrated with some global retailers, yes our fees are lower then the traditional payment system.
Q33. I have been researching this MobiePay project thoroughly, why doesn’t it have more recent news? Could it be that there has been no progress in the development of this project? Will it be due to personnel limitations due to the pandemic?
Roman – We post news on a weekly basis on our website, announcement channel and other platforms. Please keep an eye out for more amazing news
Q34. Can I really implement payment through MobiePay for my employees in my company? What guidelines should I follow to achieve this? Would a staff member of your company give training to my staff for its implementation?
Brad – We would be more then happy to assist.
Q35. AmazonPay, Alipay, Paypal are currently one of the many payment methods for online purchases with the most users and usage in the world. How do Mobie Pay compete with these project and What are Mobie Pay advantages?
Roman – We are focusing on offline payments with physical merchants throughout the world. With our partners users can transact at their local stores. We still have a very strong online payment community that everyone expects.
Q36. Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Brad – We have been building and working for 2 years. we are currently testing our products.
Q37. Is Mobiepay planning to accept payment for credit / debit card ?, or maybe a local bank in each country?
Roman – We will soon accept and offer credit / debit solutions that empower users to interact with ANY merchant, not only our partners! We are currently in over 50 countries.
Q38. Your project looks good but it confuses me that there are so many other Blockchain project. What should I pay attention in Your project to give it the importance it deserves? What are your planning to achieve with your project?
Roman – Thank you for your kind worlds. We do agree with you. The blockchain world has been consumed with many good and not so good solutions. We are focusing on solving global financial problems through the use of enterprise and complex technologies to bring real and working solutions to the world. Mobie empowers users today to utilize the platform and get value from day one. We are focusing on the solution and not just blockchain. We want to bring the world a universal wallet that empowers every day transactions and brings value to each user.
Q39. Tell us a little bit about the MobiePay Affiliate system of the merchants How much are the commissions? Is it possible to earn good money if you have a relatively large business???
Brad – Our affiliate system will be announced closer to launch with full details outlines on commissions, Our affiliate system isn’t just on a user level, its also on the merchant level, Eg is a user signs up a new merchant, that user will receive a % of commission from that retailer on all payments made there via mobiepay, the same system works when a user brings a friend to mobie, the user would receive commission on all spending that friend does. we also make money from merchants not users. so the commission wont be coming from your friend but the retailer your friend purchases from.
Q40. I am very impressed with what MobiePay project wants to do, so I want to ask MobiePay has a plan to develop the market in Asia? Let me have a chance to join MobiePay’s house!
Brad – Asia is a market we are looking at very closely, unfortunately we can speak to much on this yet.
Q41. If I use Mobie Pay , how will I get rewards, aside from referring friends? Do you have any cashback or discounting promotion in paying online using Mobie Pay? Can you explain more about the reward system in Mobie Pay? How it works? Thank you!
Roman – Yes, you can earn cash back and discounts, specials, when using Mobie Pay. as you spend a % goes back into your wallet right away empowering you to maximize value and continue spending.
Q42. The ETH blockchain is very slow, high fees. So why did you build $MBX on the ETH blockchain? What is the main reason for building it on Ethereum blockchain rather than building it on BEP- 2/ TRC- 20/ DOT Blockchain? Do you have plans to launch your own mainnet?
Brad – We are stellar based not Ethereum based.
Q43. When organizing I believe that MobiePay wants to share a lot of project information with the community. How can our community help MobiePay ? What role can communities play in the MobiePay ecosystem?
Roman – We are looking for community members all over the world to join our family and educate their communities (locally) about Mobie.
Q44. Mobiе Pay represents the financial ecosystem for customers and merchants. It also includes fiat payments. As we can see earlier it’s difficult to deal with governments or Visa/MasterCard etc. So how do you solve this problem?
Brad – We chose our initial market as the US for the reason of compliance, We are compliant in one of the strictest areas so it will enable us to rollout in different jurisdictions with a little less pressure.
Q45. Why are you targeting millennials and gamers? What problems currently exist and that MobiePay can be solved for this public?
Roman – We are targeting the worlds need to get access to their crypto quickly and for everyday transactions. Our focuses come from solving important problems in the market today and provide a solution that empowers users to maximize the benefit of everyday spending regardless of online or offline.
Q46. I think that the main challenge for Mobeipay will be partnerships with the banks. How are you planning the integration with the current payment system, and more, how can you see as a good way to make Mobeipay worldwide integrated with all the banks, and there are a lot of different rules depending on the country’s governments?
Brad – We already have partnerships in place with some global retailers and have banking partner in the US, we are currently talking with possible banking partners inside the EU, personally we dont see this as an issue at all as we provide a strong value pitch that makes sense for everyone.
Thank you to Roman Tsarovsky (CTO) & Bradley Townsend (Head of Partnerships), and Community for participating in the AMA. Have a nice day