Problem
The current invoice system that most companies use is flawed, slow and expensive with some payment providers charging up to 3.5% to facilitate a payment or a monthly fee with a fixed term contract, it also leaves many gaps for late and defaulted payments, costing companies time and money trying to recover debts that are legally theirs in the first place.
Some companies end up spending more than the invoice balance on legal costs and litigation, and in some extreme cases end up going out of business because of non-payment.
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Aim
Prontapay will be a revolutionary invoice payment platform built on blockchain technology that will use smart contract & smart legal code, to create our trademarked Smart Legal invoice (SLI)™.
Companies will be able to create and send out smart legal invoices (SLI)™ using our desktop or mobile interface to customers quickly and easily requesting payments for services or goods automatically or on a set date determined by them.
Each invoice will be sent on the blockchain and incorporate smart legal coding that will make the invoice once accepted form part of a more legally binding agreement between company & payer.
Advantages
Our Smart Legal Invoice (SLI)™ will be automatically debited from the customers Ether wallet on the agreed date, due to the nature of crypto currency the transaction will be lightning fast and cost a fraction of the price that traditional companies charge to facilitate payments.
Every transaction that uses Prontapay incurs a 1% transaction fee, which is far cheaper than its competitor's fee. Prontapay's solution is up to 66% cheaper than the alternatives.
After every successful invoice that is processed on the Prontapay platform we will reward both business & customer with Pro Pay coin to further incentivize the future using of Prontapay.
Roadmap
The Prontapay platform will be rolled out in three phases moving incrementally towards full integration of the platform, firstly our beta version will go live at the end of 2018 allowing pre-selected businesses to test out the prontapay platform & send out Smart Legal Invoices & receive payments.
The second phase will be the implementation of our mobile interface that we hope to have live by the first quarter of 2019.
The third & final phase will be the release of the full prontapay platform in the second half of 2019 allowing mass integration for SMEs to start utilising the platform.
Vision
Our vision is to be the world's first blockchain Invoice solution to truly cross over into the mainstream system & help businesses of all sizes get paid more efficiently, on time and create a more stable fast and secure invoice ecosystem
