PayVX (PVX)

PayVX service builds a secure bridge and creates a trust relationship between both parties for online business transactions.

Whitepaper

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What is PayVX

PayVX reduces the risk of fraud by acting as a trusted third-party that collects, holds and only disburses funds when both Buyers and Sellers are satisfied.

1. Buyer and Seller agree to terms - Either the Buyer or Seller begins a transaction. After registering at PayVX, all parties agree to the terms of the transaction.
2. Buyer pays PayVX (escrow) - The Buyer submits a payment by approved payment method to our secure Escrow Account, Escrow.com verifies the payment, the Seller is notified that funds have been secured 'In Escrow'.
3. Seller ships/deliver merchandise or service (website for example) to Buyer - Upon payment verification, the Seller is authorized to send the merchandise or service and submit tracking information. PayVX verifies that the Buyer receives the merchandise.
4. Buyer accepts merchandise - The Buyer has a set number of days to inspect the merchandise or service and the option to accept or reject it. The Buyer accepts the merchandise or service.
5. PayVX (escrow) pays the Seller - PayVX releases funds to the Seller from the Escrow Account.

The key element of the PayVX platform is PVX - the asset based on ERe20 standard. The PVX tokens are available for purchase through the personal account when the user registers on the platform by means of the internal account («wallet») of the platform. PVX is used to create nodes of trust in the platform. PVX is used to ensure the right to decide as well as to receive profit of every successful trade.