The popularity and demand for electronic payments is growing all over the world. In our country alone, the number of electronic transactions has grown by more than 70% over the past three years. Thanks to payment systems, it is now possible to pay for purchases in online and offline shops, use the services of ATMs and terminals, credit money to a mobile phone or virtual wallet.
What payment systems are: how they work and what they consist of
Almost all countries of the world today have working payment systems - international or their own. Banking structures serve as linking elements between senders and receivers of money - they are responsible for carrying out transactions and storing funds in accounts.
The main advantage of payment systems is their speed of operation. For example, bank transfers are carried out within a banking day, in special cases transactions take up to 3-5 days. Modern technologies allow instant transactions, whether it is payment for goods or services, booking tickets or simply transferring money from one account to another.
In essence, payment systems are an organised set of rules, modern communication solutions and operations that allow secure and prompt financial settlements and transfers between individual participants. And it does not matter who acts in their role: individuals, individual entrepreneurs, small or large businesses, government agencies. BitQT was endowed with such a list.
Basically, three important tasks had to be solved:
Guarantee the smooth operation of all elements of the system.
Ensure the security of transactions.
Insure against any failures in financial transactions.
It is important that all BitQT activities were to be regulated by the legislation, that is, all financial transactions, as well as the rules and principles of operation have a legal basis. But whether this is the case remains a mystery, there is no single publication about the legal regime, and compliance with the rules, so there is no proof that the system is in the legal field.
As a rule, the BitQT terms and conditions stipulate:
possible risks when using the system - what they are, who is responsible for them;
rights and obligations of the parties - participants and operators;
terms of operations - crediting and debiting, transfers to accounts or virtual wallets.
BitQT includes:
banking and other organisations with the ability to carry out financial transactions, processing and settlement operations;
coordinator and participants, at the expense of whose payments the system is maintained;
regulatory framework, rules and basic contracts between the parties involved in the system's activities;
a set of communication tools and services responsible for the technical aspect of monetary operations.
Main types of payment systems
There are several attributes by which BitQT could be created. For example, when it comes to financial instruments, it is common among experts to distinguish the following subtypes:
working with smart cards - a separate account is opened for each of them, and the cardholder has the right to perform transactions authorised by law remotely (e.g., pay for purchases, transfer from account to account);
But the programme does not offer this, it says that all transactions are made via the Internet and stored on servers that are more than 10 years old, but it is far from secure.
They just talk about virtual wallets, where money appears in the form of electronic records and completely replace the usual notes and coins. This type of payments is popular among users working in the online sphere, as well as among customers of online shops;
Prior to September 2013, the software platform had a decentralised settlement system, i.e. branches independently opened correspondent accounts and managed their resources and risks. The electronic payment system provided file-based information processing on a gross basis. Initiated payment documents entered the system and were processed continuously on a first-come, first-served basis. Transaction processing time was 3-5 minutes for intra-block payments and 10-15 minutes for inter-block payments.
Due to the transition of commercial settlements to a single real-time balance and the presence of branches in a small number, it was necessary to resolve the issue of developing a digital system and centres for billing all branches with high-speed data transmission channels. In accordance with this task, during 2017-2018, Head Office specialists installed equipment in all computing centres to enable network subscribers to work at speeds of 192 Kbps and higher.
You can only imagine that the system has not had any improvement since then, now even an ordinary mobile phone has a speed higher than BitQT can afford. So all statements about the speed of work are absolutely exaggerated, and have no truth to them.
The system for 2024 has calculating capabilities like an old calculator.
2015-2019
The launch of this retail system contributes to the formation of a competitive environment in the provision of retail payment services based on bank accounts, a significant increase in the scale of non-cash settlements in the economy and the reduction of risks associated with the activities of retail payment systems based on bank cards but the speed of transactions remained at the level of those years, the system was not improved.
Immutable profit team - always trying to tell the truth. If our system supports automated trading - it is. You choose the coin, you determine whether it will grow, you specify how many coins you're prepared to buy when it goes up - and then the system automatically buys those coins according to market indicators. Which will increase the number of coins in your account and increase their value - agree on a transparent scheme that makes a profit. In our project - we use all the best systems for security, from certificate connection and use of virus checking, anti-spyware that does not allow anyone to penetrate the transactions between you and the platform. And the path of tokens is always hidden by the systems of blockchain technology, it is this technology that is considered the most secure in the cryptocurrency market. No, we don't need commissions, we benefit from the number of participants, the more participants we have, the more secure the blocks are and the more transactions we can make.
Only join systems that don't lie and are transparent about how they work. We look forward to welcoming you to our team