# Introduction

<figure><img src="/files/WR79cDYpVg6khwi3quSe" alt=""><figcaption></figcaption></figure>

The world of finance is rapidly evolving, and digital currencies are leading the way towards a more efficient and decentralised financial system. With the introduction of Bitcoin, the first digital currency in 2009, the world began to understand the potential of cryptocurrencies, and since then, the adoption of crypto payments has been on a steady rise.

Cryptocurrencies such as Bitcoin, Ethereum, and Litecoin have seen significant growth over the years, with their market capitalisations reaching new heights. However, despite the significant strides made in the world of digital currencies, there is still much potential to be unlocked, especially when it comes to the adoption of crypto payments.

Cryptocurrencies are gaining popularity due to their decentralised nature, making them an ideal alternative to traditional financial systems. Crypto enable fast, secure, and borderless transactions, which are much more efficient and cost-effective than traditional banking systems.

The adoption of crypto payments has seen significant growth in recent years, with more businesses and individuals accepting and using digital currencies as a means of payment.

One of the primary reasons for the increased adoption of crypto payments is the increasing number of merchants that are accepting digital currencies. Large corporations have begun accepting crypto as a means of payment, providing legitimacy to the crypto ecosystem.&#x20;

Additionally, the rise of digital wallets and mobile payment systems has made it easier for individuals to store and transact with cryptocurrencies, further driving their adoption.

<figure><img src="/files/YuULBWXQmwAhQph9DQsN" alt=""><figcaption></figcaption></figure>

Major companies globally have taken steps towards cryptocurrency payments offering direct or indirect crypto payments. When large corporations express interest in crypto, adoption rates tend to surge, and it is predicted that companies like Amazon could enter the crypto market in the latter half of 2023, further driving adoption rates.

A Deloitte [study](https://www2.deloitte.com/content/dam/Deloitte/us/Documents/technology/us-cons-merchant-getting-ready-for-crypto.pdf) on merchants revealed that around two-thirds of surveyed merchants believed that their customers had a significant interest in using digital payment methods and that the overall interest in digital solutions was significant, particularly among younger generations.


# The Problem

Major companies globally have taken steps towards cryptocurrency payments offering direct or indirect crypto payments. When large corporations express interest in crypto, adoption rates tend to surge, and it is predicted that companies like Amazon could enter the crypto market in the latter half of 2023, further driving adoption rates.

A Deloitte study on merchants revealed that around two-thirds of surveyed merchants believed that their customers had a significant interest in using digital payment methods and that the overall interest in digital solutions was significant, particularly among younger generations.

Businesses looking for a crypto payment solution today will have to opt to use a centralised solution. Currently, these services are only offered in selected countries. Merchants relying on a centralised entity to process transactions open up to many counterparty risks and delayed settlement. In some cases, merchants are not able to retrieve their payments at all.

<figure><img src="/files/dgPwlKhywTGeFIkGmDXg" alt=""><figcaption></figcaption></figure>

The user journey for crypto payments today are also primitive. Customers paying with crypto have to manually send tokens to a specified address, owned by a centralised entity, and wait for transactions to go through.&#x20;

<figure><img src="/files/yvF6f1M6XR31MGAuZab8" alt=""><figcaption><p>Typical crypto checkout journey currently available.</p></figcaption></figure>

Users also have to perform swaps or exchange the tokens on third party sites to the preferred or accepted tokens before making a payment, often second guessing which network can they transact with. This process is complicated, and users are faced with high transaction costs and complex procedures, leading to a drop off in crypto payments to be adopted.

<figure><img src="/files/FRHzDHMHk6YxfQFovtMq" alt=""><figcaption><p>Confusing instructions for users who want to pay with crypto</p></figcaption></figure>


# The Solution

[Paywong](https://paywong.com) is pioneering a new standard for crypto payments to address the limitations of the existing landscape, providing a secure and direct payment infrastructure, enabling any website or app to receive payments into their wallets directly, keeping true to the possibilities of crypto.

<figure><img src="/files/9zqLgJaRYhostcNxanbG" alt=""><figcaption></figcaption></figure>

The protocol utilises 'liquid assets' already present in a user's wallet and automatically swaps available tokens through decentralised exchanges and then routes the payments to merchants' wallets through the use of smart contracts in the most cost efficient way.

<figure><img src="/files/RvlDA89B7k1gqcpDA1tf" alt=""><figcaption></figcaption></figure>


# Features

### Dashboard

Businesses and individuals can sign up to Paywong with just an email address to access the dashboard. The dashboard app keeps track of all payment status, manage wallet balances and more. Sign up for an account on: <https://app.paywong.com>

<figure><img src="/files/TQSs1ubvLs4s9LDWhYRa" alt=""><figcaption></figcaption></figure>

### Checkout

We’ve launched a checkout module can be embedded onto any website. This can be done either through an API/SDK integration or through plugins specifically designed for e-commerce platforms. Currently, plugins for the following e-commerce platforms are available:

* Shopify
* WordPress
* Opencart

<figure><img src="/files/RU5Naucs20C7xKaTsuce" alt=""><figcaption></figcaption></figure>

### Payment Links

B2B businesses can also take advantage of Paywong by creating unique payment links. Payment links can be generated through Paywong dashboard. Businesses can then embed it to any invoice to create a payable invoice.&#x20;

<figure><img src="/files/5NiDRTedLyLxgadr2RYL" alt=""><figcaption></figcaption></figure>

### Wallet

Paywong offers businesses accepting crypto payments a non-custodial wallet. What this means is that users have full control of their private keys. A new wallet is created when an account is set up on Paywong. This service is powered by [Magic.](http://magic.link) Magic wallets are EVM compatible, supporting multiple chains with a single unique public address attached to the user’s email. We have chosen to provide a default wallet as it reduces the barrier to entry for businesses that would like to start accepting crypto payments. However, there is always an option to route payments to an external wallet should they choose to do so, configurable from the Paywong dashboard.

<figure><img src="/files/Krhlh0OSvvu3GQSoCc2e" alt=""><figcaption></figcaption></figure>


# Demo

{% embed url="<https://youtu.be/RI4Rm86a6r4>" %}

You can try out our demos here:

{% embed url="<https://demo.paywong.com>" %}
Simple Checkout Demo
{% endembed %}

{% embed url="<https://getmeacup.com>" %}
Marketplace Demo
{% endembed %}

{% embed url="<https://paywong-demo.myshopify.com>" %}
Shopify Demo
{% endembed %}

{% embed url="<https://wordpress.demo.paywong.com>" %}
WooCommerce Demo
{% endembed %}


# Adoption

Paywong can be used in various industries, including e-commerce, online marketplaces, online courses and many more. The protocol can also be used by any website or app that require a fast, secure, and cost-effective payment solution.

Paywong is currently being used by over 200 merchants globally.

Here are some immediate clients we are engaging and examples of those who can benefit from integrating Paywong.

<table><thead><tr><th width="122.33333333333331">E-commerce</th><th width="135">Marketplaces</th><th>SaaS</th><th width="125">NFT Marketplace</th><th width="123">Online Courses</th><th>Creator Economy</th></tr></thead><tbody><tr><td>Shopify</td><td>Amazon</td><td>Zoom</td><td>OpenSea</td><td>Fireship.io</td><td>Buymeacoffee</td></tr><tr><td>Woocommerce</td><td>Alibaba Express</td><td>Veed.io</td><td>Rarible</td><td>Udemy</td><td>Patreon</td></tr><tr><td>Opencart</td><td>Shopee</td><td>Cal.com</td><td>LooksRare</td><td>Skillshare</td><td>Kofi</td></tr><tr><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td><td>...</td></tr></tbody></table>

Paywong can also be applied to other industries such as lending platforms, token sales, donations, individual developers, B2B service businesses, content creators, influencers, and many more.


# Team & Advisors

### Core Team

Moe Tengku - CEO/Co-founder\
[https://www.linkedin.com/in/moetengku](https://www.linkedin.com/in/moetengku/)

Sam Zulkifli - COO/Co-founder\
<https://www.linkedin.com/in/suhaimiesam/>

Pham Qui Hai - CTO/Co-founder\
<https://www.linkedin.com/in/phamquyhai/>

Faris Malik - Product Specialist\
<https://www.linkedin.com/in/mfarismalik/>

### Advisors

Azman Hamid - CCO, Head of Legal - Upbit (APAC)\
Chee Mun Foong - Former Co-founder, CTO - MoneyLion\
Stewart Bowers - Former Co-founder, CFO - Pritle (Binck Forward)


# Roadmap

Paywong is in its early stages, and there are plans to add more features and functionalities to the protocol. The development team is working on integrating the protocol with more blockchain networks and expanding its reach to more users worldwide. The team is also working on improving the protocol's scalability and security features.&#x20;

<figure><img src="/files/9o8iZChk3OChRkuXcyLb" alt=""><figcaption></figcaption></figure>

### Phase 1

* [x] Merchant Dashboard
* [x] Built in Wallet
* [x] One-off Payment Links
* [x] Donation Links
* [x] Paywong Hosted Page
* [x] Shopify Plugin
* [x] Wordpress Plugin
* [x] Opencart Plugin
* [x] Paywong SDK
* [x] Platform fee integration
* [x] $PWG Token
* [x] Early Adopter - 100 businesses

### Phase 2&#x20;

* [ ] Airdrop Campaign
* [ ] IDO Launch Pinksale
* [ ] DEX Listings&#x20;
* [ ] CMC/Coingecko Listing
* [ ] PWG Staking
* [ ] 🔥 Burn event 1 - Q3 2023
* [ ] $PWG on Ethereum, Polygon, Avalanche, Optimism
* [ ] Subscription Payments

### Phase 3

* [ ] PSP Integration
* [ ] Retail Marketplace
* [ ] POS terminal
* [ ] CEX Listings
* [ ] KOL Marketing
* [ ] 🔥 Burnt event 2 - Q1 2024
* [ ] Paywong Bridge Contract

### Phase 4

* [ ] Developer community
* [ ] Paywong hackerthon
* [ ] On-chain casback
* [ ] Merchant NFT airdrop
* [ ] Telegram Payment bot
* [ ] E-commerce website no-code builder


# $PWG Token

Token Name: Paywong

Token Ticker: PWG

Total Supply: 1,000,000,000

<table><thead><tr><th>Event</th><th width="162">Amount</th><th width="133">Percentage</th><th>Remarks</th></tr></thead><tbody><tr><td>Pre-sale</td><td>300,000,000</td><td>30.00%</td><td></td></tr><tr><td>Liquidity</td><td>155,000,000</td><td>15.50%</td><td>Locked for 500 days</td></tr><tr><td>Foundation</td><td>200,000,000</td><td>20.00%</td><td>Vested over 365 days</td></tr><tr><td>CEX Listing</td><td>100,000,000</td><td>10.00%</td><td></td></tr><tr><td>Cashback Rewards</td><td>100,000,000</td><td>10.00%</td><td></td></tr><tr><td>Marketing</td><td>95,000,000</td><td>9.50%</td><td></td></tr><tr><td>Team &#x26; Advisors</td><td>45,000,000</td><td>4.50%</td><td></td></tr><tr><td>Airdrop</td><td>5,000,000</td><td>0.50%</td><td>Distributed on 25 May 2023</td></tr></tbody></table>

### Contract address

* Binance Smart Chain: [0x383E64ac8808DCE10a39f0DDA8a0484F44E68f5a](https://bscscan.com/address/0x383e64ac8808dce10a39f0dda8a0484f44e68f5a)

The $PWG token is a BEP-20 token on the Binance Smart Chain.&#x20;


# Utility

### Gasless transaction

Users can use [$PWG](/tokenomics/usdpwg-token) to pay for transactions with participating merchants. When users choose to pay with [$PWG](/tokenomics/usdpwg-token), they will not need to pay for gas fees normally associated with making a transaction.&#x20;

### Staking

The [$PWG](/tokenomics/usdpwg-token) token is also needed by merchants to access premium features on the platform through staking. A fixed number of [$PWG](/tokenomics/usdpwg-token) is needed to unlock Paywong Pro features such as 0% transaction fees, sales analytics and more.

### Rewards Program

Paywong is looking to roll out a rewards program that allows users to earn $PWG tokens. Users earn tokens by transacting with Paywong merchants, similar to a cashback program offered by credit card companies. This provides an incentive for users to pay with crypto and helps to increase the platform's adoption.

The protocol earns an average of 0.75% on all transactions from businesses that integrate crypto payments into their business.&#x20;

Fees are taken for every successful transaction. 50% of the fees earned will be used to buyback [$PWG](/tokenomics/usdpwg-token) tokens from available liquidity. Users paying with crypto will also earn cash-back in the form of [$PWG](/tokenomics/usdpwg-token)

Below illustrates how the transaction fee is collected and used.

<figure><img src="/files/41SE7Hm10PyWAmdOrVGQ" alt=""><figcaption></figcaption></figure>


# Disclaimer

The information contained in this whitepaper is provided for general informational purposes only and is not intended to be, nor should it be construed as, financial or investment advice. The purchase of tokens involves significant risks and should not be considered an investment, as the value of tokens can fluctuate.

Investors should conduct their own research and analysis before investing in tokens and should carefully consider their financial situation, investment objectives, and risk tolerance before making any investment decisions. The purchase of tokens should only be made by investors who fully understand the risks and potential benefits associated with digital currencies.

The token sale is not intended to be, and should not be construed as, an offer to sell or a solicitation of an offer to buy tokens in any jurisdiction where such offer or solicitation would be unlawful. The sale of tokens is subject to the laws and regulations of the applicable jurisdiction and may be restricted or prohibited in certain countries.

Investors should be aware that the purchase of tokens does not grant any ownership rights or any rights to participate in the management or governance of the token issuer or its operations. The token issuer does not make any representations or warranties regarding the potential returns on investment in tokens, and investors should not rely on any information or statements made by the token issuer or its representatives in making investment decisions.

Investors should also be aware that the regulatory framework governing digital currencies is still developing and may change in the future, which could impact the value of tokens and the ability to use them. The token issuer does not guarantee the liquidity of tokens or their ability to be traded on any exchanges.

Investors should seek the advice of a qualified financial advisor before investing in tokens and should conduct their own due diligence and analysis before making any investment decisions. The token issuer disclaims any responsibility for any losses or damages resulting from the purchase or sale of tokens or reliance on any information contained in this token sale.