Crypto’s Answer to E-commerce & Stripe: The XION Solution

Xion Global
4 min readJun 28, 2021

The Evolution of Payment Systems

People who use payment systems know of the injustices business owners have incurred by Merchant Account Providers. This includes the extremely high contract lengths and hidden fees that make it all but impossible for small start-ups to make a profit. Payment Processing Systems (PPS) like Stripe were created to combat this corrupted business sector, providing a cheaper service while not requiring lengthy contractual commitments.

Reveal of a Mass Market and The Need for a Revolutionary System For The Future

This necessary change created a global market for PPS valued at 74.4 billion USD in 2020 and is expected to reach 120.7 billion USD by 2025 (with a compound annual growth rate of 10.2%). While these projections seem promising, experts in the field believe that these numbers represent the rising need for debit/credit payment solutions by the ongoing growth of online businesses. However, expert analysis shows that PPS cannot provide a service that can scale to complement this exponential rise in its use case. While companies like Stripe were integral in delivering lower-cost entry services, they, unfortunately, lead to

1. highly unreliable systems,

2. abundance of hidden fees, and

3. weak safety parameters for both buyers and sellers.

The Future of E-commerce Cannot Work on Unreliable Systems

We didn’t find an adequate payment processing solution on the market, so we decided to build one instead. Xion Finance effectively fossilizes all of these problems for the foreseeable future due to leveraging blockchain technology. Conventional PPS (i.e. Stripe) requires intermediaries to moderate the system, requiring manual control by their employees who are plagued by human error resulting in wrongful freezing of merchant’s accounts or simply inaccessibility for debit/credit transactions once the demand is high). This faultiness results in both the seller losing an opportunity for cash flow and the buyer no longer being able to purchase their sought-after product.

The Rise of Xion Justified by Its Advanced Technology

XF fixes this: Using smart contracts that inherently work without external control (allowing the system to perform identically day-to-day), XF technology is both cheaper and more reliable than any PPS on the market. In addition, as you may have guessed, scalability (transactions-per-second) of XF outmatches PPS due to this lack of intermediary involvement. Thus, worldwide use of a PPS like XF is inevitable due to these superior characteristics.

Chargebacks Still Plaguing Conventional Finances

Chargebacks, an expensive ordeal for merchants (averaging $15 per occurrence on Stripe) and a time-consuming endeavour for any customer (extensive customer support) will be a thing of the past. Here at XF, we assure the quality of all products sold and do not succumb to errors that generally occur on PPS (ie. Duplicating product charges on buyer’s credit cards), making chargebacks (and its $32 billion depreciation on merchants worldwide) null and void for the future of e-commerce.

Xion Finance’s Unmatched Safety Standards

XF’s safety is inherently better than any other PPS on the market, simply because all information is distributed on a blockchain ledger that interconnects in the system and is replicated on all user’s computers. This means that for any hack to occur, the hacker must compromise every user’s computer on the blockchain (could be thousands of PCs), which is technically impractical and has never been successfully done. In contrast, PPS reduces their prices due to aggregating everyone onto one merchant account, allowing hackers to access everyone’s private information more easily.

Xion’s Stance for Welcoming The Future Of E-commerce

Above all, we at XF seamlessly integrate the multi-trillion-dollar future of finance’s cryptocurrencies into our e-commerce platform. While PPS sticks to the fossilized form of finance (as Blockbusters did for media providence), XF looks forward and capitalizes on what society is quickly evolving into (as Netflix did). This integration also allows merchants to provide financial entries for the many highly motivated millennials trailblazing themselves into the e-commerce industry.

Our Mission Statement

All in all, XF provides a more effective, safer, and overall more welcoming position to the future of online shopping. Through diligent creation and refinement since 2019, we believe that our program will be the first to illustrate the immense success a program of these extensive capabilities can create for the world of e-commerce.

Learn more by reading our whitepaper.