How SatoshiPay is using Stellar to transform online publishing

To fulfill its long-term vision of transparent volume transfer between every Internet-connected device, SatoshiPay uses Stellar to provide a cost-effective, frictionless, and instant experience for their users. Its first stop? Micropayments.

Company
SatoshiPay
use case
Micropayments
Industry
Financial Services
Country
England, Germany

About

SatoshiPay

SatoshiPay offers solutions for B2B cross-border money transfer and frictionless micropayment processing through its blockchain-based instant payments platform. The company was founded in 2014 and is headquartered in London, with development led through its Berlin office.

Challenge

Online content isn’t free — consumers pay for it with their money, their attention, or their personal information. They’re usually overcharged and often under-informed, but publishers have yet to devise a better way to collect necessary revenue. Publishers either find themselves having to serve ads on their platform or charging subscription fees, both of which are not optimal for the user experience. 

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“The best business decision and technical decision we made in our history so far is to switch to Stellar.”
Meinhard Benn
‍Founder and CEO · SatoshiPay

Solution

SatoshiPay allows publishers to integrate a Stellar wallet widget into their websites, making it easy for consumers to pay tiny amounts for online content. No login, no waiting, and (virtually) no fees.

Publishers install a Satoshipay widget with a built-in Stellar wallet on their website. Consumers can top off this wallet with XLM, USD, or any other Stellar-network token. As they browse any site with the Satoshipay widget installed, they can click on pay-per-view content and access it immediately with no login required. It’s a seamless, private, and ad-free experience.

Low Fees

  • Micropayments don’t work with non-micro fees: you can’t transact in pennies when it costs you dimes. Stellar network fees are near zero.

Speed

  • One-click access to content doesn’t mean much if you have to wait around for a payment to settle. Stellar transactions take seconds to clear.

Global Scalability

  • Networks near capacity inevitably inflate fees, so micropayments require a network that can handle high transaction volumes.
  • Online publishing has an international readership. To pay for content across borders and currencies, SatoshiPay relies on Stellar’s built-in DEX and ability to seamlessly transmute assets.
Meinhard Benn

Founder and CEO · SatoshiPay

Results

transaction settlement time
‎€0.00001
per-transaction fee
€1mil
processed in microtransactions

Transacting small amounts can get expensive using traditional payment methods such as credit cards or PayPal. It’s unfeasible to sell something for 50 cents or less if the transaction fee is 20 to 30 cents. By using Stellar as a payment rail, SatoshiPay whittled down those transaction fees to far less than a cent — less than a ten-thousandth of a cent — per transaction. 

Having recognized the power of Stellar, SatoshiPay has expanded their product offerings beyond micropayments to demonstrate multiple use cases: DTransfer, a global and local B2B payments platform, and Solar, a simple and secure wallet that offers multi-sig accounts, trading capabilities, asset management, and more.

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