Quick question with the instant payment system

Tech Talk
1

I was just wondering with the instant payment system.

Say I’m in the UK and someone’s comes along and purchases a product for say £10, will the system go off and lookup the current price of etn to the value of £10 and then convert it to correct amount of etn ? Or is there some sort of manual pricing that you need to setup ?1

Thanks just wondering that s all

2

Yes, as I recall it uses current market prices for ETN-Fiat exchange rates.

3

Thanks for the reply…amazing

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4

BTW, Look into updating your profile, so your username isn’t ec1e76bb966f5b6320b9 :wink:

5

As far as I understand, they won’t be converting anything for you. They will provide you with the exchange rates as here:
https://supply.electroneum.com/app-value-v2.json

Using these rates you do any required conversion from your local currency to ETN (without adding any fees) and show this amount in a QR code for your customer to scan and pay. That’s it.

1 Like
6

True, the exchange rates are provided in the link you posted. The text encoded in the QR code for payment must contain the already-converted ETN amount.

If you are working in PHP, you can make use of their library to do this for you instead. Or you could just see how they did it and mimic it in your own code. https://github.com/electroneum/vendor-php