Redemptions

Redemption is the process the token-holder exchanges the value in his token for service. Many creators host their service on their own websites. In order to accept their service tokens as payment they must enable their sites to connect to a user’s in-browser or mobile wallets. A second requirement is to augment their payment processing module to accept service tokens as payment for services. We will be providing documentation to help creators update their websites to support service tokens.

For offerings in a slot network, if the services are hosted across many sites supporting wallet connective as described above, then the network tokens can be redeemed on each of those online venues.

Redemptions on Meritic platform

Creators may also host services on Meritic marketplace, which integrates with a user’s wallet, allows the user to sign their transactions. For services delivered via digital content in text or virtual meetings, audio / video streaming, such services are accessible from the service’s collections page.

Mobile redemption

We plan to introduce mobile redemptions to enable creators and service providers to process in-person transactions. In addition to the token / value transfer and transaction signing features, it also will include a check-in / check-out features, and invoicing and billing features that enable a service to send an invoice via QR to a user’s mobile device to complete the transaction with a service token held by the user.