Allvor’s main development and partnership efforts will be aimed at enabling the effective use of ALV in businesses. These efforts will contemplate numerous actions, but we would like to highlight 5 main actions:
Plugin for the Magento platform
Magento is an open source e-commerce platform used by thousands of virtual stores around the world. The Allvor plugin for Magento will enable merchants to receive, in a simple and prompt way, ALV payments in their virtual stores.
Allvor will also partner with companies that currently offer digital currency payment services to merchants who use the Magento platform, with plugins already developed, to include ALV as the payment currency.
Plugin for the WooCommerce platform
WooCommerce is also an open source e-commerce platform, developed as an extension to WordPress, the most widely used online content management platform in the world.
The Allvor plugin for WooCommerce will enable merchants to receive, in a simple and prompt way, ALV payments in their virtual stores. Also for WooCommerce, we will establish partnerships with cryptocurrency payment processors to include ALV as a payment currency.
Integration with Online Payment Providers
Payment providers or processors offer to the merchants a complete payment solutions platform so that they are less and less concerned with the maintenance and support for payment solutions. Many of these providers are working to include digital currencies as an alternative payment option to their customers.
Considering that ALV transactions are settled in real time on the XRP Ledger, we have the perfect technical conditions for payment providers to include ALV as a payment method in their solutions.
Integration with Debit Card Providers
In recent years, different debit card options have appeared for fiat currency payments backed by prepaid deposits in cryptocurrency. Some of them are the Bitpay, Xapo and Wirex cards, among others.
The cards are issued by major card operators such as Mastercard and Visa. This business model has been facing some operational difficulties, especially because it operates exactly in the transition line between fiat and digital currencies.
These difficulties occasionally lead operators to suspend the service, as it has happened in early 2018 in several cases. However, it is only a matter of time for major companies to solve the current problems and provide a reliable service.
ALV is the perfect currency for deposits of any amount in prepaid cards, since the transaction is made in real time and the ALV transaction rates are very low (approximately 0.00001 XRP per payment, which is currently less than 0.00001 USD ).
Hybrid Payment Gateway
Allvor will develop and make technologies available that enable the operation of Hybrid Payment Gateways - HPG. HPGs are payment gateways that can receive ALV payments and process payments to sellers in both ALV and local currency, in the location (country) where the HPG operates. The great differential of the HPGs is that the necessary transactions (payments and currency exchange) can be fully supported by the resources available in the XRP Ledger.
Allvor will develop and make the other layers available in open source, which are required for the operation of HPGs and their integration with the XRP Ledger. Thus, companies interested in establishing a local HPG will require minimal development efforts and will have the availability of a complete business solution to operate local currency payments while receiving ALV from their customers.