Mobile Payments

UPYY mobile payment system accommodates both push and pull transactions, offering a versatile way to handle payments. This system allows users to make payments by scanning a payee's QR code with their smartphone camera, aligning with traditional mobile payment methods. Alternatively, UPYY enables users to make payments by presenting their own QR code to the payee.

"Push" and "Pull" Transactions Overview

There are two fundamental types of payment processes: push type and pull type. Push and pull transactions are key methods for transferring funds between parties in mobile payment systems.

Push Transactions in UPYY

In the UPYY push payment process, the payer initiates the transaction, taking an active role in sending funds to the payee. This gives payers full control over their payments, allowing them to decide the timing, amount, and recipient of the money. In UPYY, a push transaction refers to the action of sending or transferring assets from one party to another. The sender initiates the transfer, effectively "pushing" the asset to the recipient's UPYY address.

Pull Transactions in UPYY

Conversely, in the UPYY pull payment process, the payee (recipient) requests payment from the payer’s account. The payer then authorizes the payee to "pull" funds, thus starting the transaction process. In UPYY, a pull transaction is commenced by the payee, who issues a request to transfer an asset from the payer’s account or smart contract, thereby initiating the transaction.