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Mobile Payments

TravelCash launches alternative mobile payments method

Thursday 6 December 2018 | 12:46 PM CET

TravelCash has announced a blockchain-based digital alternative for mobile payments, by introducing a lower cost payment processing solution.

TravelCash is developing a cryptocurrency and integrated mobile payment and rewards system over the Stellar platform which is capable of processing between 1,000 and 5,000 transactions per second.

For consumers, TravelCash is developing a digital wallet in the form of a mobile app, with many of the features being built to streamline the purchasing process, reduce the risk of fraud and eliminate waste. In the future, consumers will be able to pay for goods and services using a TravelCash QR code, collect merchant rewards such as airline miles or grocery store gas points, and save receipts, all through TravelCash's recoverable wallet, stored on the Cloud.

TravelCash has adopted a two-token structure with a non-security token to be solely used as a payment medium on the platform, and a security token that comes with certain ownership rights but that can also be used as a payment medium on the platform. Initially, TravelCash will be seeking up to USD 10 million from the sale of its Series Seed Preferred Stock, which can be converted into either TravelCash's security tokens or Common Stock at the holders' discretion.

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