Request to Launch Kollect Payment Solution

Request Network launches Kollect, a payment service for online commerce, SaaS, and professional services. The solution enables merchants to receive secure payments with a fee as low as 0.05%, significantly cheaper than traditional banking and card rates. Early users receive three months of free access.

REQ Info

Request aims to establish a “global cooperative financial system”, bridging isolated financial platforms. It grants individuals and entities autonomy over their financial information and decisions. Essentially, the Request Protocol acts as an intermediary, facilitating various payment requests, from uncomplicated peer-to-peer transactions to intricate business invoices.

Through the Request system, payments are instigated by dispatching an invoice over the blockchain. The recipient can then recognize and settle this request with a singular action, marking a direct, peer-to-peer transaction. Distinctively, payments on Request are push-driven, negating the necessity for personal account information disclosure. By utilizing blockchain technology, chiefly Ethereum and IPFS, it eradicates the dependency on third-party intermediaries, which consequently diminishes transaction expenses and bolsters user security, privacy, and data ownership. Though the platform involves transaction fees, these are imperative for broadcasting updates to the blockchain and incentivizing miners to achieve network consensus.

REQ is an ERC-20 token on the Ethereum framework. Every request executed with REQ is etched onto an unalterable digital ledger, serving both as an indisputable record and an auditing tool.