These days everybody has heard of crypto-currencies. This is more than a tendency. The problem is that using crypto-currencies in the retail sector is extremely difficult or simply impossible. However, the launch of the VISO project means that the situation will change to the core.
The main development of the Georgian company VISO Payments is a full-cycle payment system with the same name. Its goal is the highest possible simplification of the procedures of receiving and making payments in cryptocurrency. The VISO ecosystem has a number of components, such as, the bank cards of various VISO Card types, VISO Exchange, VISO Wallet and 3-in-1 SMART terminals. Another important part of the ecosystem is the company’s own crypto-currency, VITO (VISO Token), which is used as an intermediary between fiat money and other cryptocurrencies.
What is VISO
The idea seems simple and convenient. The buyer receives a bank card linked to the VISO Wallet, changes his or her crypto-currency into fiat money on the VISO Exchange and goes to a store to make purchases. The payment procedure is quick, while no regulation is violated and the company takes over all legal complexities.
Of course, VISO is not the first system that allows you to tie crypto-currencies to payment cards. Monaco, Tenx and Token cards have similar systems. But they all have the same drawback, -it can take a long time to get a card.
VISO offers several types of cards: regular “plastic” cards, virtual cards and HCE cards (bank card emulation technology, which allows you to make payments using a Smartphone). The last two types are attractive in a way that they can be obtained within a few minutes after opening a VISO Wallet account. This means that you can make purchases almost immediately after registering with the VISO system.
VISO plastic cards will be available in two versions. VISO Light will be a prepaid Visa / MasterCard option, the balance and turnover of which is limited by Georgian legislation and international Anti-Money-Laundering regulations. The current legal limit on bank cards for prepaid cards is 1200 USD. These cards can be shipped anywhere in the world, the owner does not need to open an account with a Georgian bank or undergo any identification procedure. Owners of VISO Pro cards will have a considerably larger range of possibilities, these, however, will only be available to those who pass the identification procedure and open an account with a Georgian bank. The limits for such cards are not limited by law.
Yet the VISO system may be interesting not only to buyers, but also to sellers because of the inclusion of SMART terminals into the ecosystem. These are universal devices capable of replacing payment terminals, cash registers and bank terminals. As a result, the seller receives one universal device, which is simpler and cheaper to maintain. In addition, such terminals can accept payments directly in crypto-currencies. That is, the holder of crypto-currency will be able to pay for the purchase, even if he does not have a VISO Card. Thus, VISO SMART terminals are not only practical and convenient, but they also expand the range of services provided by a retail outlet.
Speaking of the merits of VISO SMART terminals, additional functions such as, the possibility of remote monitoring of all activities via the Internet must be noted. This means that the owner can monitor what happens in his stores, even from another continent. Also, all owners of VISO SMART terminals will have access to additional functions provided by VISO. For example, the VISO Shop system allows the creation of an online store with just a few mouse clicks.
The problem of speed
The VISO developers were facing two difficult problems. The first was to develop as convenient and attractive a system as possible, not only for buyers, but also for sellers. This problem was solved, by offering buyers the simplicity of receiving and using cards, and offering sellers the possibility of obtaining universal terminals and access to additional VISO services.
The second task was no less complicated. The duration for making transactions with crypto-currencies may take from 5 to 360 minutes, which is unacceptable for retailers, especially large supermarkets with a high inventory turnover.. This problem was solved through the technologically rapid blockchain platform of Waves. The developments underlying Waves allow you to significantly reduce the transaction time, to less than 30 seconds.
Plans for the future
The VISO project looks promising. According to the developers themselves, the project is a payment system for the future, which is difficult to argue with.
VISO is launched in Georgia. The developers have extensive plans to further develop their offspring and turn it into the country’s main payment system. But they do not intend to limit themselves to Georgia alone; they aim at bringing their project to other countries in the CIS and Europe.
At the moment, VISO is going through a crowd-sale process (that started on September 25th). The amount of funds raised will depend on the speed of project’s implementation and its scale. Anyone can take part in the crowd-sale. You can do this on the website viso.global. Anyone who wants to find out more about the company’s technologies, hold SMART-terminals in their hands or just speak with company representatives can do so at the company’s office in Tbilisi.
Full contact information:
Adress: 0160,Georgia, Tbilisi,8 Vazha-pshavela Ave.
E_mail: info@viso.global
Tel.: 032 2 34 33 33
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