Cross Platform Payment Gateway

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1 White Paper Version: 1.0.0

2 Index Disclaimer... 2 Executive Summary... 4 Motivation... 5 Problems... 7 Solutions... 8 Our Platform Advantages RoadMap CPPG Token Company Details

3 Disclaimer This document is a technical whitepaper setting out the current and future developments of the Cross Platform Payment Gateway. This paper is for information purposes only and is not a statement of future intent. Unless expressly specified otherwise, the products and innovations set out in this paper are currently under development and are not currently in deployment. Cross Platform Payment Gateway makes no warranties or representations as to the successful development or implementation of such technologies and innovations, or achievement of any other activities noted in the paper, and disclaims any warranties implied by law or otherwise, to the extent permitted by law. No person is entitled to rely on the contents of this paper or any inferences drawn from it, including in relation to any interactions with Cross Platform Payment Gateway or the technologies mentioned in this paper. Cross Platform Payment Gateway disclaims all liability for any loss or damage of whatsoever kind (whether foreseeable or not) which may arise from any person acting on any information and opinions relating to Cross Platform Payment Gateway, the Cross Platform Payment Gateway or the Cross Platform Payment Gateway Ecosystem contained in this paper or any information which is made available in connection with any further enquiries, notwithstanding any negligence, default or lack of care. The information contained in this publication is derived from data obtained from sources believed by Cross Platform Payment Gateway to be reliable and is given in good faith, but no warranties or guarantees, representations are made by Cross Platform Payment Gateway with regard to the accuracy, completeness or suitability of the information presented. It should not be relied upon, and shall not confer rights or remedies upon, you or any of your employees, creditors, holders of securities or other equity holders or any other person. Any opinions expressed reflect the current judgment of the authors of this paper and do not necessarily represent the opinion of Cross Platform Payment Gateway. The opinions reflected herein may change without notice and the opinions do not necessarily correspond to the opinions of Cross Platform Payment Gateway. Cross Platform Payment Gateway does not have an obligation to amend, modify or update this paper or to otherwise notify a reader or recipient thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate. Cross Platform Payment Gateway, its directors, employees, contractors and representatives do not have any responsibility or liability to any person or recipient (whether by reason of negligence, negligent misstatement or otherwise) arising from any statement, opinion or information, expressed or implied, arising out of, contained in or derived from or omission from this paper. Neither Cross Platform Payment Gateway nor its advisors has independently verified any of the information, including the forecasts, prospects and projections contained in this paper. Each recipient is to rely solely on its own knowledge, investigation, judgment and assessment of the matters which are the subject of this report and any information which is made available in connection with any further enquiries and to satisfy itself as to the accuracy and completeness of such matters. Whilst every effort is made to ensure that statements of facts made in this paper are accurate, all estimates, projections, forecasts, prospects, expressions of opinion and other subjective judgments contained in this paper are based on assumptions considered to be reasonable as of the date of the document in which they are contained and must not be construed as a representation that the matters referred to therein will occur. Any plans, projections or forecasts mentioned in this paper may not be achieved due to multiple risk factors including without limitation defects in technology developments, legal or regulatory exposure, market volatility, sector volatility, corporate actions, or the unavailability of complete and accurate information. 2

4 Cross Platform Payment Gateway may provide hyperlinks to websites of entities mentioned in this paper, however the inclusion of a link does not imply that Cross Platform Payment Gateway endorses, recommends or approves any material on the linked page or accessible from it. Such linked websites are accessed entirely at your own risk. Cross Platform Payment Gateway does not accept responsibility whatsoever for any such material, nor for consequences of its use. This paper is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation. This paper is only available on and may not be redistributed, reproduced or passed on to any other person or published, in part or in whole, for any purpose, without the prior, written consent of Cross Platform Payment Gateway. The manner of distributing this paper may be restricted by law or regulation in certain countries. Persons into whose possession this paper may come are required to inform themselves about and to observe such restrictions. By accessing this paper, a recipient hereof agrees to be bound by the foregoing limitations. 3

5 Executive Summary Merchants and customer are finding difficulties using existing inconsistent functional and costly payment gateways which does not fulfill requirement of global E-commerce. Payment methods like Internet banking, Debit card, Credit card people started to accept alternative and fastest payment method which is nothing but blockchain technologies. Currently people started using tokens to trade on blockchain to transfer fund and pay for numerous services. However, this mechanism is still not safe because of anonymous behavior of blockchain which invites fraud activities. Cross Platform Payment Gateway is coming up with advance payment gateway which supports transaction settlement for fiat as well as crypto currencies. Advantage of using Cross Platform Payment Gateways is merchant and customers can select own method of choice for payment gateway and if both method does not match Cross Platform Payment Gateway it will take care of conversion without charging extra fees unlike other payment gateway which collect exchange conversion fee for international transactions. The Cross Platform Payment Gateway is intended to be a comprehensive solution which offers robust payment mechanism far more efficient, fastest, creditable flexible, cost effective and secure than other existing payment solutions. Unlike current payment provider in which both merchant as well as buyer must accept same method of payment Cross Platform Payment Gateway will use atomic swap between multiple blockchains if both parties select different payment mechanism. We believe the protocol will have the potential to increase transaction efficiency, security and minimizing multiple intermediator companies which charge excess fees. The protocol is designed as proprietary project build around a customizable chain of smart contracts that govern transaction behavior. It can be set for use as a processing single transaction, multiple transactions in one go or using combined methods. Businesses will be able to use the protocols payment mechanism as is or create new one which suite their business needs. We believe the solutions offered by the CPPG Protocol will create new business opportunities for existing as well as new external companies to build their product on top of the CPPG protocols. Such services may include but not limited to E-commerce websites, wallets provider, banks, international fund transfer services, crypto currencies exchanges and others. It is our intention that CPPG protocol be prompted through partnerships with businesses that have significant turnovers, by encouraging them to adopt the CPPG solution from onset. We hope the protocol will plug into industries with more than 5 million daily customers spanning numerous markets. 4

6 Motivation Existing payment method for online as well as offline purchases has been payment cards (credit cards, debit cards and prepaid cards), mobile wallets and internet banking. Major problem with this all methods are their mechanism is designed in such way that payment processing will take minimum three days for settlement of completion of transaction which is very time consuming. Also, this transaction processing involves multiple parties for payment settlements which increase processing fees. Existing card processing systems are capable to process maximum transactions per second which will be insufficient in near term due to growing ecommerce business. Additional to above drawbacks payment will be only processed in the form of fiat currencies and if both parties use different fiat currencies then additional exchange changes will be collected from merchant which increase overall transaction fees. The structure of existing payment system is very complex and it consist of multiple participant: Credit Card Providers (Master Card, Visa & Amex), issuing banks, acquiring banks, payment processing company and payment gateway. The market is oligopolistic and the incumbent players each control their networks, dictating the rules and the costs. This centralistic structure leads to inefficiencies. The merchants that depend on card acceptance must comply with an endless list of terms and conditions dictated by the service provider. Moreover, this payment processing companies charges 2% to 10% charges for processing transactions which is very high. Bitcoin has been introduced as an electronic cash in 2009 which was the first step toward modern online payment solution. Bitcoin was originally designed to address trust, security and transaction speed issue with traditional payment processing. Unfortunately, bitcoin is still unable to provide flexible processing solutions for most of the current billing methodologies. None of the cryptocurrencies that were introduced in past few years able to provide comprehensive single payment solutions that allow crypto holder and fiat holder to process payment. Payment Cards There are several kinds of payment cards provider like Visa, MasterCard, Amex. They provide different kind of cards includes credit cards, debit cards, prepaid cards and virtual cards. Payment gateway and digital wallets like Google Wallet, Apple Wallet, PayPal also provide services for payment. As per 2016 data payment card accommodate over 77% of global commerce which is equal to 257 billion transactions. Visa standalone generated 54% transactions. Payment Card EcoSystem Every transaction generated by swapping card or using for online transaction goes through below third-party stakeholders and each of them charge transaction processing fees. Card Networks: This act as a midway point for facilitates transactions between user and acquiring entity. They also set interchange fees and ensure compliance followed which are set. Acquiring Bank: Provide services to merchant with access of system require to accept payment Issuing Bank: May either hold the deposits or extend the credit associated with the account that the card tied with. Processors: Backoffice support for processing secure transfer of data 5

7 Payment Gateway: Work in the same way, acting as payment terminals and front-end processors. Services such as Stripe serve as a portal connecting e-commerce merchants and acquirers. MSPs: (Merchant Service Providers) and ISOs are intermediaries that sell payment processing services to merchants, on behalf of acquirers and processors. As single transaction processed by multiple stakeholder s transaction takes minimum 2 days for settlement and processing charges get increased. To overcome this problem, we have started to work on development of fastest costeffective payment gateway which will support fiat as well as crypto currencies. 6

8 Problems An estimated transaction of $22 trillion take place between consumers and merchants per year. Local and national currencies are used to pay for everything from your cup of tea every morning to your weekly groceries. Now days E- commerce websites changing trend of traditional purchasing method and growing fast. These E-commerce websites accept payment in different mode including Credit Cards, Debit Cards, Internet Banking and mobile wallets. Few E- commerce websites started accepting crypto currencies as payment of method. But they accept majorly bitcoin, Ethereum and lite coin. However, there are more than 2000 crypto currencies available currently. Also, there are limitation of all above mentioned payment methods. Merchant Issues 1. Payment gateway charges 2% - 5% transaction processing fees for credit card, debit card and internet banking transactions 2. Payment processing takes minimum 2 working days for depositing in merchant accounts 3. Additional exchange charges need to pay when accepting payment in different fiat currencies 4. Existing payment gateway doesn t support all crypto currencies 5. No proper way to handle transaction distrust if using crypto currencies as payment gateway Buyer Issues 1. Refund takes long time. Sometimes approx. 15 working days 2. Many times user faces double spending issue where first transaction display as fail by payment gateway but money get deducted from account 3. Some merchant add additional transaction processing fees in total fees 4. Not all type of payment gateway supports all type of cards (Amex is still not supported by many payment gateway) 5. Still many users are not familiar with using crypto currencies as payment method 7

9 Solutions Currently none of the major payment processors have attempted to integrate cryptocurrency into their current payment systems. However, Cross Platform Payment Gateway believes that integration of traditional payment gateway system along with cryptocurrency would offer a wonderful opportunity to both consumer and merchants. Thus, Cross Platform Payment Gateway intends to work with each country s own governing body to obtain the necessary licensing in each specific country or region. Cross Platform Payment Gateway will allow both merchant as well as buyer to select own method of choice for payment. Let s consider that vendor accept bitcoin as payment method but buyers want to pay using Ripple then payment gateway will allow buyers to select method of payment which Ripple in this case and will display price in Ripple. Once buyer will pay amount in Ripple Cross Platform Payment Gateway Engine will perform atomic swap between Ripple and Bitcoin blockchain and payment will be deposited in merchant s bitcoin address. There are three types of transactions which will be processed by Cross Platform Payment Gateway Engine. Those are 1. Crypto to Crypto: In this type of transaction both buyer and merchant will select crypto currencies as payment method. If both agrees to pay with same crypto currency then payment will be processed directly with nominal charges. But in case if both parties select different crypto currencies then atomic swap between 2 different blockchains will be performed with the help of side blockchain and contract addresses by CPPG Engine. 8

10 2. Crypto to Fiat & Vice Versa: In this type of transaction any one party from buyer or merchant will select crypto as payment method and one party will select fiat currency. For converting crypto currencies to fiat and vice versa CPPG Engine will process transaction with help of public exchange API. CPPG Engine will connect with multiple exchanges to get best deal and as per that it will place order for buying and selling. However, price will be always calculated with respect to the rate of dollar for avoiding any volatility issues with price fluctuation of crypto market. 9

11 3. Fiat to Fiat: In this method payment will be procced by CPPG Engine using xvia product provided by Ripple blockchain which allows international payment transfer within 6 seconds. 10

12 Our Platform Cross Platform Payment Gateway will be fully integrated platform which covers many aspects that are related to the payment industry. 11

13 Advantages Our Payment gateway will provide interface like PayUMoney which allow both merchant as well as buyer to select own method of payment processing. Both parties can select default method however buyer will receive options to select different method for payment in case he wishes to go with other methods. Advantages of Cross Platform Payment Gateway 1. Cross Platform Payment Gateway will support more than 200 crypto currencies which are available for trading via public exchange API s and our own CPPG Token. Cross Platform Payment Gateway will always be evaluating which cryptocurrencies should be added to our platform, and we will listen to the feedback from both consumers and merchants regarding the cryptocurrencies that are most popularly asked for which we may not have listed at that time. 2. Cross Platform Payment Gateway Engine will be enabled to make atomic swapping between major blockchains including but not limited to Bitcoin, Ethereum, Lite Coin, Ripple, Cardano, XVG. 3. Cross Platform Payment Gateway will work with all types of websites and mobile applications 4. Merchants will have a choice to either automatically convert the cryptocurrency into fiat or keep the cryptocurrency, which they can either convert later-on or spend as cryptocurrency 5. Cross Platform Payment Gateway will connect Credit, Debit cards, different cryptocurrencies and Bank accounts into one account interface, thus allowing the account holder to transfer money to other Cross Platform Payment Gateway account holders 6. Due to using xvia product from Ripple Cross Platform Payment Gateway will be able to process international fiat transactions also within minutes 7. Cross Platform Payment Gateway will come with integrated payment dispute handling mechanism which will protect buyer from after purchase fraud 12

14 RoadMap 13

15 CPPG Token CPPG Tokens will be used as fuel to process transaction on Cross Platform Payment Gateway once system will be ready and moved to own blockchain. Previously we were decided to distribute tokens via ICO with nominal rate of 1 ETH = 1,000,000 but later we have changed our mind and decided to distribute 70% tokens via Airdrop. 30% tokens will be reserve for development team and company future use. We have already completed phase 1 of airdrop and distributed tokens to more than 500 users who participated in airdrop. We have completed registration for phase 2 of airdrop and will complete distribution soon. Remaining tokens will be distributed via airdrop for holder accounts, community building participant evens and completions. Token details are as below Name: CPPG Token Symbol: CPPG Platform: ERC-20 Contract Address: 0x345fD80105d95Fd8845d0E717B b5756d0 Total Supply: 100,000,000,000 CPPG Official Website: Id: support@cppg.io 14

16 Company Details Cross Platform Payment Gateway is product of Aeoliana Finance Pty Ltd, a 24 years old Australian company provides investment and mortgage loan services in Australia. Our registration details with Australian government as below: Company Name: Aeoliana Finance Pty Ltd Registered In: Feb 1993 ACN: ABN: Type: Private Company Founder: Damien Anthony Zanin 15