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HIPS Merchant Protocol ( HMP ), Hips Merchant Protocol Gateway (HMP-gateway) and Merchant Token ( MTO ) is a solution that introduces consumer protection concepts from the traditional card payment industry to any blockchain with support for smart contracts such as Ethereum , Cardano (ADA) or Solana .

"We believe that the consumer-oriented features of the MTO are the missing piece for crypto payments to have market penetration and mass adoption among mainstream consumers," says John Cavebring, CEO of Hips.

Merchant Token ( MTO ) is the native protocol token of the Hips Merchant Protocol ( HMP ), currently issued on Ethereum following the ERC-20 standard. HMP will hold the ERC20 tokens on the Ethereum blockchain as a start, but the protocol will work similarly on other supported blockchains like Cardano , among others.

“HIPS Merchant Blockchain is the native blockchain for HMP and Merchant Coin (MEO), which is the native block currency in Hips Merchant Blockchain, and is optimized for real-time business transactions created for Payment Service Providers (PSP) and EFTPOS devices, ”added Cavebring.

A widely adopted and fully on-chain Merchant Payment Protocol would need to have comparable transaction performance, such as US exchanges, such as the NYSE, of an underlying blockchain in order to scale.

“The near real-time transaction speeds of the HIPS Merchant Blockchain are a huge improvement to the current blockchain response. Hips Merchant Protocol is not only designed for Ethereum , but also on Solana , an incredibly fast public blockchain that can support more than 50,000 transactions per second, has lock times of 400 milliseconds, and a transaction cost of approximately $ 0.00001 ”, Cavebring points out.

With near-real-time transaction speeds, plus the Hips Merchant Blockchain is designed for business transactions regardless of whether they are mobile, in-store, or e-commerce, and utilizes the payment card industry exchange concept, HIPS provides a solution for crypto payments to be obtained worldwide. global consumer adoption.

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