BayPay is a technology company that encompasses a large Community of Payments, Commerce, Fintech Entrepreneurs, and Executives. It develops blockchain economic infrastructure with a commitment to offering easy, quick, and secure payments. These transactions happen with the expected growth in token-based trade during the COVID-19 pandemic when individuals do not necessarily want to hold physical money.
Scofield Yeh, the founder and CEO of BayPay, aims his company to reap the benefits of token economic growth. He stated that even though blockchain-related companies are growing quicker than the rest of the economy, only about 0.3% of global trade occurs in the “chain.”
According to him, the token economy’s reach is limited by regulatory uncertainty, a Byzantine global financial structure, and a lack of engineers. Eliminating the barriers to token trade allows to start of more new companies, accelerates development for existing businesses, and internationally improves economic production and trade. BayPay integrates a payments network with applications that place blockchain data at the core of the market.
He said that companies of all employee sizes, from new venture to public companies, use their software to accept payments and manage their token businesses on the chain.
He further explained that sitting atop the blockchain platform of BayPay are apps such as the token, wallet, and cashier, which administer the blockchain’s lifecycle and deposit money anywhere in user bank accounts. BayPay has a robust API engine that makes it easy to pass ownership of properties. He extolled that their SaaS (Software as a Service) infrastructure provides reliability, scalability, and security.
BayPay’s tokens enable the payment of fees by designated service providers, making it as simple as using ordinary points for customers. As all transactions have costs, this is the current state of the token economy.
Concerns such as wallet creation and handling private keys, remembering recovery phrases are the biggest obstacle to users entering the blockchain world. Here, BayPay allows users to use wallets as quickly as using Gmail with dual identity authentication and permission. It also enables businesses to incorporate token services into existing products to provide consistent products.
Pay on the Go
The best aspect is that services are priced based on use, without costly program development costs and long launch times.BayPay cloud service offers hundreds of application programming interfaces to support your token economy activities, as well as thousands of third-party integrated apps that help businesses work.
Scofield Yeh, Founder and CEO of BayPay is an accomplished chief technology officer with expertise in operations management, IT service management, business model development, management, and account management. Yeh is a reliable specialist in information technology. He received his Executive Master of Business Administration