Created by e-visionaries and advised by experts from companies like Google, Apple and Intel, the Eligma startup continues along its roadmap of smart commerce solutions with the latest technologies including blockchain. After a successful last week’s launch of its MVP − Elly, an AI shopping assistant, Eligma presented a second product. Elipay is a solution for paying with cryptocurrencies at online and offline stores from the comfort of one’s mobile phone, but promises to become an all-in-one-app integrating debit, credit and loyalty cards as well as loyalty programs in one place. On the first day of its launch, Elipay was present at more than 130 locations all over Slovenia, with international expansion to follow. In this way, Eligma follows its mission to further the use of cryptocurrencies in the mainstream, and continues with the development of new AI and blockchain solutions in order to save time and money to the average consumer.

Crypto or fiat, convenience comes first

After the impressive public crowdsale in May 2018, which gathered ample early following and more than 10 million USD in contributions despite the unfavourable market situation, the Eligma team delivered not one, but two commerce solutions in the first half of September. The first one was Elly, an MVP chatbot training to find best deals based on one’s personal preferences for product features. Today, Elly was followed by the Elipay mobile app and POS solution. Elipay enables paying with selected cryptocurrencies at online and offline stores or service providers, but is being developed into an all-inone app integrating all kinds of debit, loyalty and credit cards and loyalty programs into one convenient mobile solution.

At the launch of Elipay, Eligma CEO Dejan Roljic, an internationally renowned startup entrepreneur, stated: “The Eligma company is convinced that the advantages of the latest technologies including blockchain should become part of mainstream commerce, making it more efficient and user-friendly. Elipay caters to the new niche of crypto shoppers, growing as we speak. Merchants and service providers are increasingly aware of this market opportunity: the number of stores accepting Elipay is getting bigger on a daily basis. Convenient crypto shopping, however, is not our only goal. We aim to make Elipay into a comprehensive solution integrating cards and loyalty programs into one mobile app to benefit all consumers.”

Elipay highlights

The Elipay mobile app for quick and easy payments with cryptocurrencies is available in the iOS and Android versions, and can be downloaded free of charge from App Store and Google Play. The customer pays by scanning the QR-code of the purchase at the cashier and confirming the transaction. Elipay currently supports Bitcoin, Bitcoin Cash and Ether, with ERC-20 technology developed as well.

The solution is interesting for merchants because the transactions are immediate and not possible without a sufficient balance in the buyer’s wallet. The merchant receives the settlements in fiat.

The Elipay system enables one to make simple deposits and immediate transfers to the wallets of other system users as well as to check one’s balance and transaction history.

The app also features a list of stores and service providers accepting Elipay, along with their locations, opening times and contact information.

The solution is also characterized by a simple integration into the existing POS system of the merchant or the possibility of immediate use of the Elipay web POS. There is no additional hardware necessary.

Soon, Elipay will also enable integration of credit, debit and loyalty cards as well as loyalty programs into one unique mobile app. It will also offer a universal loyalty program, within which the users will be rewarded with ELI tokens.

The first Bitcoin City™ in the world

Elipay is currently accepted at over 130 locations, marked by the bright yellow Elipay sticker. The establishments include online and offline stores, bars, restaurants, sports and recreation facilities, and a cultural venue. The Elipay app can thus already be used to pay for all main product categories, from food to white goods and event tickets. It was tested for three months by approximately 150 volunteers at more than 50 stores at BTC City, a major shopping and business complex in Central Europe. Consisting of over 450 stores, 70 bars and restaurants, a theatre, a cineplex, a waterpark, etc., BTC City boasts 21 million visitors a year as well as a great amount of startups and other innovative companies in its area. In partnership with Eligma, the BTC company is developing the BTC City area into the first Bitcoin City™ in the world – a one-of-a-kind business and shopping environment offering the latest technological solutions including Elipay. The uniqueness of the Bitcoin City™ ecosystem has been covered by numerous international media, resulting in more than 160 online articles.

Plans for the future

Elipay is currently available in Slovenia, but will soon enter the international arena. While their search for new investment and technological partners continues around the globe, the Eligma team have their eyes set on the big picture: the Elipay payment solution, the ELI token and Elly − the product discovery AI are to become part of the Eligma commerce platform, catering to the fact that more and more commercial activity takes place from people’s homes. In addition to fast and personalized product discovery, the platform will also enable a personal digital inventory of one’s purchases and easy sale of used items through automatic listings on second-hand sites. Eligma CEO Dejan Roljic says: “Eligma’s path of challenging and redefining the current commerce concepts continues. Our aim is to put the user’s needs into the center and make every household an effective commerce participant not only as a buyer, but also enable it additional income by means of effective circulation of goods that we have in our homes and we no longer need. We can save time and money by letting technology do most of the work.”

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