Utrust aims to provide buyers with the consumer protection they deserve for online transactions, becoming an intermediary platform, a contradictory mediator with low cost and low cross-border transaction resistance, allowing merchants to trade with growing cryptocurrency holders from all over the world. Utrust aims to create a comprehensive payment application interface (API) for the market and be able to become PayPal's competitor in the crypto payment industry.

1. Project introduction

The Utrust platform is a payment processing solution that enables merchants to accept multiple cryptocurrencies from the buyer as payment methods when accepting fiat currencies.

Application Scenarios

Reduce the buyer's purchase risk
Utrust covers all procurement (goods and most services) services. Other traditional solutions (such as PayPal) only cover the purchase of physical goods, and password-based services (such as Bitpay) do not contain anything at all.

Payment approval speed
Unlike traditional payment systems, where payment approval is delayed most of the time due to high risk of fraud and requires numerous documents to be submitted, Utrust is able to approve payments immediately and provide accessibility processes for both parties (boughter and seller).

Low exchange fee
Utrust offers low exchange fees for buyers and sellers using advanced analytics connected to multiple cryptocurrency exchange providers. Services such as PayPal and Bitpay provide extremely high internal exchange rates.

Low seller fees
Utrust will charge sellers a 1% fixed fee for payment. Other services like PayPal charge a minimum parity of 2.9%, but after all "hidden fees" are included, it can exceed 5%.

Accept multiple cryptocurrencies
The Utrust platform accepts the most used cryptocurrencies on the market (Bitcoin, Ethereum, Litecoin, Dash Monero, etc.), covering a larger proportion of the total market capitalization. Other services such as Bitpay only accepts Bitcoin, limiting its market to half of its total market capitalization. As more tokens are created and added to the market, their capture percentage will only shrink further.

Fund Security
Take advantage of the power of blockchain and say goodbye to credit card fraud. Users can control their private keys and funds without even needing access to your wallet. Traditional centralized solutions have poor performance in ensuring funding security.

No refunds
Sellers will be protected from rampant credit card fraud and annoying refunds, which often happens in traditional payment services that still rely on credit cards.

Customer Payment Protection
Services like PayPal are well known that PayPal relies heavily on buyer/seller protection plans. However, it only covers the purchase of physical goods. Bitpay does not include any purchases, making the transaction irreversible and exposes users to potential fraud. Utrust extends consumer protection by covering both physical and virtual (if applicable) purchases, which will guarantee full coverage of all eligible payments made through Utrust.

Date limit for dispute resolution
Traditional solutions like PayPal, where both parties can collect evidence independently (up to several months), have a long wait time for a transaction resolution, which is a slow and painful process. Utrust provides a self-mediated bilateral solution model and an advanced tripartite solution dispute mechanism that enables both parties to chat in real time and is directed by one of Utrust’s resolution mediators.

Seller's rating based on performance
Utrust implements performance-based analytical algorithms to evaluate sellers' performance, so that sellers' performance decreases accordingly as sellers' performance increases. This mechanism creates a trustworthy environment that encourages sellers to perform better over time and increase buyer confidence. In the best case scenario, the best seller will see its holding time being eliminated and get funds immediately.

Distributed token with index value
Utrust is not only a payment platform. Its own cryptocurrency, Utrust Token (UTK), will also be issued. Users can buy/sell/send/receive their UTK on the platform, convert it into fiat or other crypto assets, or just keep it secure in your wallet and see its value grow synergistically with the platform. Transactions using Utrust tokens will be converted internally and will be charged zero redemption fees.

2. Commentary

Utrust is a groundbreaking payment platform where buyers can trade (private or commercial) in cryptocurrencies available on Utrust. As an intermediary platform, Utrust not only provides sellers with fiat currency collection channels, but also provides buyers with consumption services. Utrust aims to provide buyers with the consumer protection they deserve when they trade online, becoming an intermediary platform, a contradictory mediator, reducing fraud by providing refund services and protecting merchants from the negative effects of cryptocurrency market fluctuations. By further optimizing the advantages of cryptocurrencies, such as fast transactions, low cost and low cross-border transaction resistance, merchants are allowed to trade with cryptocurrency holders from all over the world.

Related links:

https://utust.com/
http://www.qukuaiwang.com.cn/szhb/2782.html
https://www.lianyi.com/zixun/996202