Hey guys. We are here with BNBPay Co-founder James Zhang, who is ready and willing to tell us what BNBPay offers the world.
Q. Thank you for speaking with us, Mr. Zhang. Could you tell us what BNBPay is?
Thank you for having me. BNBPay is a crypto project aimed at becoming the most widely used crypto payment gateway for web3 commerce.
Q. Would you please give us a brief overview of what BNBPay entails?
BNBPay was born on the Binance Smart Chain and incorporated the ERC-1363 protocol, enabling users to pay their expenses using $BPAY and other crypto tokens. The core principles of BNBPay are to be a trustless, immutable, and efficient platform for crypto payments.
The company’s mission is to sculpt the future of crypto payments and change how people conduct those payments. BNBPay aims to become the most used crypto payment for e-commerce and traditional brick-and-mortar shops. The Transaction confirmation for payments will take less than 5 seconds, making BNBPay well-suited for any in-store purchases.
BNBPay offers a whole gamut of solutions for crypto payment, starting from the customer’s wallet to the merchant instantaneously. There’s no need to wait for confirmations or deal with the headache of failed transactions. The BNBPay Point of Sale payment terminal will give merchants the option to seamlessly receive any cryptocurrency, stablecoin or fiat to steer clear of any volatility risk.
The BNBPay e-commerce allows for straightforward integration with both subscription-based services and online retailers. The BNBPay reward system allows customers to pay for goods and services using $BPAY and earn a passive income by staking through the BNBPay wallet. $BPAY is merely the beginning; the entire crypto ecosystem is the future.
Q. So what will be the impact of BNBPay in both the crypto space and the world in 2021 and beyond?
Behind the BNBPay project is a team of crypto pioneers and payment specialists with years of experience in the payment and retail POS and commerce industries.
So we have the technical know-how and business know-how to scale the BNBPay business through user-centric products, strategic partnerships, and existing networks to bring crypto payments to millions of merchants worldwide.
The BNBPay POS payment terminal will give merchants the option to receive any crypto, stablecoin or over 150 fiat currencies seamlessly so they can avoid any volatility risk.
Q. What has BNBPay accomplished so far that gives you the most pride?
Since BNBPay’s inception, we have come a long way in less than four months; our holder wallets have organically increased in number to nearly 50,000 holders.
Our market capitalization went from less than 1 million to nearly 450m at its peak. We plan to launch our BNBPay mobile app, Point of Sales, BNBPay e-commerce plugins, and Staking rewards platforms by the end of this quarter. Moreover, we have started the process of applying for a payment license with the Monetary Authority of Singapore (MAS). We also recently signed an MOU with Kee Song Biotech to be their exclusive payment partner for cryptocurrency.
BNBPAY is very excited to announce our newest merchant onboard https://t.co/cDuAc0F642 who will partner /w us as their exclusive crypto payment provider!
Founded in 1987. KeeSong Group has been a leading poultry producer in Asia, grossing over $100 million USD in revenue! pic.twitter.com/IhVWw4gFX3
— BNBPay (@BnbPay) October 27, 2021
The next 12 months will be important for BNBPay as we speed up merchant and user adoption growth.
Q. What does the future hold for BNBPay? What is your development team working on, and how will it overall impact the project?
The product means everything to us. Our development team is separated into two, focusing on the customers and focusing on merchants.
The user experience is everything for the customers. An intuitive and visually stunning UI/UX experience will go a long way in growing user adoption and retention of BNBPay.
For the merchant, the focus is on the seamless integration with their current business payment flow. We have to make crypto payments quick, affordable, and compatible with their existing accounting and bookkeeping software.
Q. Tell us about the leadership team. Who are the people behind the project?
CEO Zave Huang is a spirited entrepreneur who has built many businesses and has 5+ years of experience in merchant payments. Zave is responsible for guiding the company towards its vision, establishing key strategic partnerships, and acquiring funding.
CTO Teason Phang has built several tech businesses, including two in merchant payments. Teason bears the responsibility for BNBPay’s product development and R&D. And last but not least, I’m the CCO (Chief Crypto Officer) James Zhang, a finance entrepreneur with a love for all things crypto. I am responsible for the token side of the business, from token marketing and community to crypto-related partnerships.
Q. What partnerships have BNBPay gotten into so far, and which ones would you say have had the most impact?
We have recently signed an MOU with Kee Song Biotech to become their exclusive crypto payment partner.
Kee Song Group is a publicly listed company in Taiwan and is one of the largest poultry producers in Southeast Asia, grossing over $100m per annum. We are talking to a few more large companies and plan to strike even more strategic partnerships in the next 12 months.
Q. Technically speaking, what are the coin metrics for $BPAY, and how do they ensure a stable and balanced system?
Tokenomics is 10% $BPAY rewards, 10% Dev and 5% marketing. We have already burnt 20+% of supply. We have been cautious with price stability up till now and have not yet drawn down any of the dev or marketing wallets and likely never will. We instead rely on the 10% trading tax for company expenses.
The 10% trading tax rewards early investors with reflection and prevents front-running bots (5% reflection, 3% dev/marketing, and 2% auto buyback). Our Pancake LP is locked until 2026, and on November 4th, we listed on our first exchange, BitMart.