QUBECHAIN PAY LLC
Paper checks still account for 65% of B2B supplier payments. By leveraging decades of commercial payment industry expertise with innovative applications of blockchain technology, QubeChain Pay will revolutionize the arcane system of commercial B2B payments.
QubeChain Pay aims to lower costs associated with all forms of payment while increasing the speed of payment acceptance and reducing the fraud currently plaguing the system. Untapped growth potential exists in this $22 trillion-dollar marketplace long hindered by cumbersome payment processes and bloated transaction costs.
The Accounts Payable process for merchant retailers and other businesses can now become largely automated because of unique characteristics inherent to distributed ledger technology. Smart contracts automate the entire transaction process thus minimizing accounting errors and drastically reducing reconciliation/auditing costs.
In addition to increasing the speed of transactions by automating the process of making and accepting commercial payments, blockchain technology also increases transparency among the parties. A blockchain is essentially a distributed public ledger that contains immutable transaction records that are constantly verified by consensus algorithms running between peer-to-peer networks.
Along with disrupting current standards of B2B commercial payments with our blockchain-powered Supplier Enablement Suite, QubeChain Pay also launches with a complete payments processing solutions division, including all specialty payments. Whether our client is a sole practitioner medical office or a large hospital system or the pharmacy on the corner, we can process any type of payment as well as offer a reward token/loyalty program to meet all commercial payment processing needs.
The B2B Supplier Enablement business with merchant retailers (ie Home Depot) described above will be developed initially with fiat currency through traditional credit card companies, then eventually integrating digital currencies that QubeChain will create and exchange in a branded (or co-branded) digital wallet.
Our Market Strategy in the crypto-currency sector includes creating a bridge between traditional financial mechanisms and the institutions they serve (aka credit card processing companies and banks that are currently setting up supplier commercial payments via fiat currency). We foresee broad-based blockchain disruption for most if not all value-exchange delivery systems and intend to be well-positioned in the marketplace as the industry blows up/grows up around us.
QubeChain Pay is poised for rapid growth on the strength of its various resources and relationships as well as the focus of its management team.