The current invoice system that most companies use is flawed, slow and expensive with some payment providers charging up to 3.5% to facilitate a payment or a monthly fee with a fixed term contract, it also leaves many gaps for late and defaulted payments, costing companies time and money trying to recover debts that are legally theirs in the first place. Some companies end up spending more than the invoice balance on legal costs and litigation, and in some extreme cases end up going out of business because of non-payment. .
Prontapay will be a revolutionary invoice payment platform built on blockchain technology that will use smart contract & smart legal code, to create our trademarked Smart Legal invoice (SLI)™. Companies will be able to create and send out smart legal invoices (SLI)™ using our desktop or mobile interface to customers quickly and easily requesting payments for services or goods automatically or on a set date determined by them. Each invoice will be sent on the blockchain and incorporate smart legal coding that will make the invoice once accepted form part of a more legally binding agreement between company & payer.