12/14/2021
Introduction PLP
PLP is a unique first of its kind platform that incorporates three emerging markets:
Buy Now Pay Later (BNPL);
Cryptocurrency and Fiat currency; and
Blockchain and smart contract technology.
PLP is a global decentralized platform creating payment solutions for shoppers, merchants and marketplaces that empowers customers to access the things they want and need, while still allowing them to maintain financial wellness and control with the aim of helping people to spend responsibly.
PLP is being developed as an autonomous decentralized finance (DEFI) protocol that introduces a integrated cryptocurrency to the BNPL sector along with traditional fiat currency. PLP offers significant cost savings to the established BNPL products through the use of a protocol that utilizes smart contract and blockchains as well as a growing and more sophisticated DEFI environment. The PLP protocol aims to create an ecosystem that is rewarding for all participants.
BNPL providers are solving the problem of approximately 70% cart abandonment by shoppers. According to Afterpay 83% of the retailers that used its facility experienced improving conversion and fewer cart abandons whilst 72% of retailers experienced expanding average order values and basket sizes.
With PLP users access a multi-solution payment protocol. Users can pay for their products using the BNPL function or they can pay using approved cryptocurrencies they already hold in their wallets or with traditional fiat currency.
PLP users have the ability to buy now pay later without the risk of being charged interest or late fees by splitting repayments in four over a period of three months, for both online and in-store purchases. While the repayment remains outstanding the user is charged a $6 account keeping and administration fee per month by PLP until repayment is made in full.
PLP users are rewarded for doing the right thing and completing their repayments on time by receiving PLP governance tokens that can be used in various ways such as buying into a higher credit limit, used as currency to purchase products and services from PLP merchants in the PLP marketplace and able to vote on certain outcomes that can shape the future of the PLP platform.
PLP users can shop and pay for products and services from our merchant partners and in our affiliated marketplaces using either cryptocurrency or Fiat currency. Users also have the ability to stake their stable coins such as Bitcoin with PLP and earn a return on the amount staked.
PLP uses blockchain and smart contract technology to harness digital currencies creating ground breaking ecommerce solutions and experiences that are appealing to people of all ages.
“According to BNPL provider Splitit, the single biggest challenge for e-commerce retailers is overcoming approximately 70% cart abandonment by shoppers. This translates into USD$4.6 trillion in lost e-commerce sales each year.”
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Pay Later Project (PLP) gives approved users the ability to purchase online or in store from merchants on our platform. Buy Now Pay Later powered by Blockchain. The alternative to credit and debit payments, brought to you by tokenised blockchain.
