Companies Accepting $NIM via Invoice (Fiat to $NIM)

Questions
#1

Hi,
I did reach out on twitter to see if anyone (Nimiq community) know how we can start to accept $NIM via Invoice but got little response.

So maybe i should have come here first.

So basically one of my companies is manufacturing control system for the like’s of Pizza express (factories), Aerospace(robots, cobots) etc and Building Automation for schools and hotels (Hilton etc).

99% of our client are corporate and as such payments are on account (30 days terms etc), via invoice. This is a SME company located in the UK (https://globalelectricalsolutions.co.uk/)although some of our clients are located as far as down under. Ideally our accounts will invoice the customer as normal but we have toyed with the idea that we will offer a %off if they choose to pay in $BTC or $NIM.

Questions are:

  • Is this what Oasis will do?

  • Can the custom pay in fiat (GBP) and choose $NIM or $BTC?

There CRM integration would be great but not necessary.
POS terminals will not suit this type of business.

Basically trying to stay ahead of the curve and thus keeping our company moving with the times.

Any thoughts on this would be appreciated.

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#2

A very easy way to get started is cryptopayment.link - but that’s for manual invoicing, I assume from what you describe that you want an automated system, ideally connected to your CRM, correct? But please have a look at that website, I’d like to hear your feedback.

Just recently, we have released an API for Cryptopayment.link - that could be interesting for you. You can create a payment request for your customers to pay in BTC, NIM or ETH - you chose which crypto currencies you want to receive - and get a link in return that you can just add to your invoice (e.g. as text or as a QR code) together with the note that you give a nice percentage off if you clients use this direct form of payment.

OASIS will allow you to convert the received crypto directly back into GBP in the future, but we are still in the process of acquiring the proper licenses required for the market maker. Maybe too much detail now, but this market maker will allow you to exchange crypto with fiat (such as GBP) reliably at any point in time. Also, OASIS would allow your customers then to pay in GBP and you can receive crypto for example. While the software is already running in a test phase, we have to wait for the required license to operate this service. To give you a time frame, we expect to receive the license by end of September, but unfortunately we can not be sure of that as we depend on the Federal Financial Supervisory Authority of Germany (BaFin.) With this license and the software framework in place, it will be possible to receive GBP on any SEPA enabled account.

For the meantime, do you have a developer team that could work with our Cryptopayment.link API which will allow you to receive crypto by adding a link or QR code on you invoices? I’m happy to share more details on that or arrange a call.

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#3

Hi Svub,

Excellent respond and very informative, Thank-you.
cryptopayment.link we have looked at already and as most of our clients are corporate at which it would be accounts department talking to accounts this would be an issue for them as im sure they are not yet paying for invoices in $BTC, $NIM etc.

I think OASIS on the other hand looks very promising and this will be the route we will be looking at closer to the time of release.

If you have time to forward me more info regarding API for Cryptopayment.link, this is still something we can look at for another project.
+44(0)1844 852 002
Email: [email protected]
FAO: Mark

K Regards
Mark

#4

Hi Mark!

It’s cool that you are considering accepting $BTC and $NIM in your company!

However, I wonder in how far you actually need a crypto payment process, if you still expect your customers to pay in fiat (GBP). Instead of swapping the GBP to crypto during payment to you, why couldn’t you instead convert some company capital into crypto?

My counter-questions therefore are:

  • Do you want to receive BTC/NIM in a crypto wallet and keep it there?
  • Or do you want the customer to be able to pay in BTC/NIM, but your company receives GBP?
  • Or is there maybe a regulatory reason why you would want to convert customers’ payments into crypto, instead of simply exchanging some company capital?

OASIS is a part of the swap between fiat and crypto. By having a bank provide an OASIS service, it enables bank accounts in its banking system to swap trustlessly with fiat through a market maker. At this time, we are only working with a German bank in the SEPA payment area, and only in EUR currency. We have no timeframe for GBP integration yet.

With the help of OASIS you could swap payments from customers either from the customer’s fiat into crypto, or from the customer’s crypto into fiat for you.

Cryptopayment.link and its API currently allows you to generate crypto payment links, which are specified in EUR or USD (at this time), and which the customer then pays in crypto (the price charged is calculated at the time of payment from the current market rates), which goes directly to your crypto account. There is no conversion happing yet, but we plan to integrate with OASIS, so that crypto payments can be converted to fiat in your account. There is no timeframe for this integration yet.

I second Sven’s suggestion to have a call, I suggest also with Max, our business developer.

Regards,
Sören

#5

Hi NimiqSoeren,

Thanks for your swift reply. We have done a little bit of research into how our customers feel with regards to crypto and to be honest most of the feed back we received is negative, with remarks like “bitcoin is used mainly by drug dealers” and such.

Global Electrical Solutions ltd has already invested in $BTC and $NIM and could continue to convert a percentage of capital into crypto, but this is not what we are trying to achieve.
We are trying to get clients like Hilton to accepted crypto as another method of payment and move away from the stereotype it’s currently met with (baby steps for now).

The idea for now is to have them pay in fiat to $NIM for example at a discount. Once they start to accept this (after several months) we will offer them a greater discount if they purchase and hold a percentage of $NIM or $BTC, this in turn will be use to pay for their SLA (Service Level Agreement) at a greater reduction.

As a company we then intend to hold the relevant crypto as a longer term investment.

The end result for us (and the wider crypto community) is adoption. As such we use our larger client’s like Aerospace, Hilton, EF International as examples of what can be achieved and as such, saving they could possible make going forward.

Hope that make sense.

I would be happy to talk further to see how this if at all is possible.

K Regards
Mark

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