Storepay is revolutionizing the financial technology landscape in Mongolia. They are pioneering the “Buy now, Pay later” service. Storepay empowers customers to conveniently make split payments for their purchases over a period of time, without incurring any additional fees or interests.
What Exactly is Storepay?
Storepay is Mongolia’s pioneering buy now, pay later service provider. It is a combination of advanced fintech along with the power of blockchain. Established on January 23, 2019, Storepay introduces the pioneering point-of-sale loan service. Now, shoppers can conveniently make interest-free installment payments without any hidden fees. Customers will have the freedom to make purchases ranging from 30 to 3,000 USD from various stores and merchants, allowing them to spread their payments over time without incurring additional charges or interest.
What is the SPC Token?
Storepay Coin or SPC is a novel cryptocurrency built upon the existing Storepay business infrastructure. This exciting development will be facilitated through an Initial Exchange Offering (IEO). SPC operates as a BEP-20 token on the Binance Smart Chain, offering retail customers in Mongolia and across Asia intelligent digital payment solutions and purchase bonuses.
Furthermore, they are actively developing a comprehensive ecosystem centered around SPC. This ecosystem encompasses essential features such as wallets, savings mechanisms, mining capabilities, and rewarding systems. Their roadmap also extends beyond the borders of Mongolia, with plans to expand into Southeast Asia.
Benefits of the BNPL Financial Model Compared with Credit Cards
Extensive research reveals a concerning trend among credit cardholders. The majority of users frequently miss payment deadlines and subsequently incur late fees imposed by the banks. Furthermore, in 2019 alone, customers paid a staggering sum of over 121 million US dollars in credit card debts. These numbers are predominantly consisting of interest payments and late fees.
While credit cards prove highly profitable for banks, customers bear the brunt of mounting financial pressure. They also have excessive spending, exorbitant interest rates, fees, and escalating debt. In Mongolia, alongside credit cards, several micro-lending solutions operate in a similar manner, exacerbating the situation for consumers.
Therefore, the Buy Now, Pay Later (BNPL) financial model emerged as a transformative solution. In 2014, Australia rapidly gained widespread acceptance of the BNPL financial model. This innovative model revolutionized the way people approach payment for their purchases. The BNPL model offers numerous advantages for the average shopper. This includes the absence of interest fees, enhanced financial planning capabilities, convenient payment in installments, and relief from the long-term burden of accumulating late fees.
By embracing the BNPL model, consumers can navigate their financial responsibilities more effectively. They can also avoid the pitfalls of interest-laden credit card debts, and experience greater peace of mind. This customer-centric approach represents a significant departure from the traditional credit card system, providing individuals with the flexibility and control they desire when managing their expenses.
Benefits of Using Storepay
Storepay offers a range of compelling benefits to both customers and merchants, making it a preferred choice in the market.
For customers, Storepay provides the convenience of point-of-sale loans when making purchases. This enables them to split their payments over a period of time, making it easier to manage their finances. One significant advantage is that there are no additional fees or interest charges associated with these loans, ensuring transparency and cost-effectiveness for the customers.
Merchants and retailers also reap numerous advantages through their partnership with Storepay. By offering point-of-sale loans, they attract more customers who may have previously been deterred by financial constraints. This expands their customer base and increases the likelihood of sales. Furthermore, Storepay introduces new and user-friendly payment solutions to customers, enhancing their shopping experience and building loyalty. With Storepay, merchants can witness a boost in revenue and product turnover.
Additionally, Storepay serves as a valuable marketing channel for merchants, contributing to improved brand awareness. By associating themselves with Storepay and promoting its convenient payment options, merchants can attract new customers and differentiate themselves in a competitive market.
Where to buy SPC Token
You can find SPC Tokens here at MEXC! We are listing SPC/USDT in our Innovation Zone!
What is the Price of SPC Tokens?
The SPC token is trading at MEXC for $0.00003803! It has a fully diluted market cap of $6,089,773. It also has a 24-hour trading volume of $499,340. You can check the live price of their token right here!
How to buy SPC Tokens on MEXC
You can buy SPC Tokens on MEXC by following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “SPC” using the search bar to see the available trading pairs. Take SPC/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of SPC you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy SPC] to confirm your order. You will find the purchased SPC in your Spot Wallet.
You can find a detailed guide on how to buy SPC Tokens here.
Get Free Airdrops with MEXC Launchpad!
Meanwhile, check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! Visit the Hot Projects section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!
Start your travel on MEXC