Verify is a decentralized reputation protocol built on Ethereum that tracks the historical transactions of participants (buyers and sellers) and rewards those with good reputations. The reputation protocol is based on all historical transactions, where each party rates their counterpart in every transaction, which then becomes part of the rated partys reputation record. Verify Payments is the first "killer app" built on the Verify reputation protocol, powered by CRED tokens. CRED tokens represent "trust" in a transaction. Without holding CRED tokens, one cannot transact on the platform.
Project Highlights
No Cards Needed
It is well known that credit card penetration is low in the Middle East, with 80% of consumers preferring to pay in cash.
Verify is digital cash; it’s as good as paying with cash but without handling physical bills in person.
Simplified API
We have already integrated with the largest retail banks in the UAE and Bahrain, so you don’t have to. Integrate with the Verify API once, and you can access all financial institutions on the Verify network. And as more banks join the network, you will automatically gain access to them without any additional work!
Lower Fees
No sign-up fees, monthly rental fees, currency conversion fees, or settlement fees. You can register completely for free through Verify and start accepting payments right away. If you are an individual without a commercial license, you can still process up to 100,000 AED annually with no other requirements.
How the Project Works
To add Verify to your website, you simply use our mobile-optimized Javascript SDK (just 3 lines of code). During integration, Verify works directly with your technical team to help you get up and running quickly and test the solution before going live with your product.
Now that your website or app is ready, customers can pay you from their bank accounts with just a few clicks!
The transfers are sent directly from the customer’s account to yours. You typically receive the funds within one business day.
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