The world's first Smart Legal Invoice (SLI)™ payment system that will utilize smart contracts & blockchain technology to help businesses of all sizes get paid more efficiently, save money on transaction fees and create a more stable fast and secure invoice ecosystem all while rewarding users with Pro Pay Coins for every successful transaction.
Problem 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. .
Aim 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.
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The team looks quite strong and savvy. The industry needs this kind of solution. "Smart Legal invoice" is a suitable blockchain implementation. The project can reach good results if well implemented.
Good project, real business use case with team who has delivered before. As a accountant I see the need for a solution like this and if it can be scaled it can be very interesting.
Founder of Serendipity Blockchain Solutions Rated on May 19, 2018
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Prontapay's vision is to be the world’s first blockchain invoice solution to truly cross over into the mainstream system and help businesses of all sizes get paid more efficiently, on time and create a more stable fast and secure invoice ecosystem.
However, I feel that the team is lacking experience and it is unclear to me whether the whole team is fully dedicated to the project. Additionally, the advisory team is not one which will push your business forward.
The project will face heavy competition with more established projects and companies in the same ecospace. According to their roadmap they are expecting to launch their fully functional platform in Q3 2019, which is really far away. Especially with other projects doing the same and already up and running.
It's a nice idea, but with the heavy competition they are facing and the really stretched roadmap I do not see this project become successful.
alexander hambiICO team member replied on 21 May 2018
Thanks dennis for your input! However i don't quite see how you have come to the conclusion that our team is lacking experience i myself have Founded built and sold 3 companies since 2008 and my partner is an expert in web and software development! we look forward to proving you wrong. thanks
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The Prontapay platform will be rolled out in three phases moving incrementally towards full integration of the platform, firstly our beta version will go live at the end of 2018 allowing pre-selected businesses to test out the prontapay platform & send out Smart Legal Invoices & receive payments.
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First quarter of 2019
The second phase will be the implementation of our mobile interface that we hope to have live by the first quarter of 2019.
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Second half of 2019
The third & final phase will be the release of the full prontapay platform in the second half of 2019 allowing mass integration for SMEs to start utilising the platform.
