Burst is a secure and cost-effective way to process payments
Choose your own fees
There is no fee to receive BURSTs and every wallet lets you control which fee you would like to pay when sending. Wallets show you different fees from Minimum (0.00735 BURST) to Priority. Higher fees like Priority can encourage faster confirmation of your transactions. Fees are unrelated to the transferred amount, so it’s possible to send 100,000 BURST for the same fee as it costs to send 1 BURST.
Payments with encrypted or public messages
Burst offers the possibility to attach a message to each payment. This can be encrypted (only readable between the sender and the receiver) or public. The message can be up to 1000 characters long and does not incur any additional costs when sending BURSTs. The message can be used perfectly as a link between your Burst transactions and business processes.
No PCI compliance required
Accepting credit cards online typically requires extensive security checks in order to comply with the PCI Data Security Standard. Burst still requires you to secure your wallet and your payment requests, however, you will not carry the costs and responsibilities that come with processing sensitive information from your customers like with credit card numbers.
Get some free visibility
Burst is an emerging market of new customers who are searching for ways to spend their BURSTs. Accepting them is a good way to get new customers and give your business new visibility. Accepting a new payment method has often shown to be a clever practice for online businesses.
Fast international payments
Sending BURSTs across borders is as easy as sending them across the street. There are no banks or brokers making you wait several business days, no extra fees for making an international transfer, and no special limitations on the minimum or maximum amount you send.
Any business that accepts credit cards or PayPal knows the problem of payments that are later reversed. Chargeback frauds result in limited market reach and increased prices, which in turn penalizes customers. Burst payments are irreversible and secure, meaning that the cost of fraud is no longer pushed on the shoulders of the merchants.
Easy token generator
With Burst you can create a token with a few clicks, which you can use for your business. In addition, Burst offers its own token market on the blockchain, where you can sell your tokens to your customers for BURSTs.
Many organizations are required to produce accounting documents about their activity. Using Burst allows you to offer the highest level of transparency since you can provide information to verify balances and transactions through the blockchain. For example, non-profit organizations can allow the public to see how much they receive in donations etc.
Smart contracts as you wish
With Burst you can create smart contracts for your business model. Burst smart contracts are based on CIYAM but can be programmed in Java and then loaded as bytecode onto the blockchain. BlockTalk is the framework that every Java developer can easily use and offers a big cost advantage for your business over other Cryptos.