Can OpenPay and Pi Network become the core infrastructure of the real-world economy?
OpenPay has recently appeared in the Pi Network ecosystem, and setup appears to be mostly complete.
The emergence of OpenPay is significant in that it is not simply the addition of a payment function, but the process of building a financial infrastructure to use Pi as an actual payment method.
However, future expansion of functions and expansion of services may be affected by Pi Core Team's policies and each country's regulatory environment, so any aspects that have not yet been confirmed need to be understood as possibilities.
- Core features of OpenPay
Summarizing the information currently disclosed, OpenPay serves as a Pi Network-based payment gateway.
The main functions are as follows:
- Pi Wallet integration
- QR code payment
- Online shopping payment
- Offline store payment
- Seller (affiliate) payment management
- Transaction history management
- Payment confirmation and settlement function
That is,
If Pi Wallet is a personal wallet, OpenPay is a payment system that connects merchants and consumers.
- Why is it important?
Pi so far
- Mining
-KYC
- Mainnet
- App development
It has developed around
But in the real economy
«"It becomes currency only when payment is made."»
OpenPay can be seen as the core infrastructure responsible for this final step.
The reason is
Pi → Product purchase → Seller profit → Reuse
This is because it can create an economic circulation structure called .
- Features likely to be added in the future
Although it has not been officially announced yet, looking at the current structure, the following functions are likely to naturally follow.
① POS (Point of Sale) linkage
There is a possibility that it can be linked to a POS system to enable Pi payments at supermarkets, restaurants, cafes, hospitals, gas stations, hotels, etc.
② Online shopping mall API
There is a possibility that shopping malls will implement a payment structure with a single OpenPay button like PayPal, Stripe, Tos Pay, and Kakao Pay.
③ Settlement system
the seller
- Will I receive it as a Pi?
- Will I receive it in fiat currency?
- Will you get it mixed?
There is a possibility that additional features may be added.
④ Subscription service
It is likely to be applied to various services such as monthly automatic payment, membership, regular sponsorship, OTT, and education platform.
⑤ Overseas remittance
There is a possibility that the borderless real-time remittance function between Pi Wallets will be further strengthened.
- Changes that OpenPay will bring
consumer
- Easy payment with just a wallet
- Payment can be made in the same way overseas
- Simplified remittance process
seller
- Possibility to reduce card fees
- Securing overseas customers
- Inflow of new customer base
developerBy linking the OpenPay API, you can more easily develop apps that support Pi payments.
- Meaning in the Pi ecosystem
OpenPay
Pi Browser
↓
Pi Wallet
↓
OpenPay
↓
Merchant
↓
Pi App
↓
real economy
It has the potential to become a core infrastructure that connects.
In other words, it can be seen as the process of the Pi ecosystem moving from ‘app-centered’ to ‘economy-centered’.
- Future direction
The following trends are expected in the future.
- Expansion of OpenPay affiliated stores
- Increased payment linkage with Pi App
- Establishment of a global payment network
- Expanding digital commerce
- Expansion of services tailored to country-specific regulations
If this trend continues, Pi has the potential to further strengthen the payment ecosystem used in real life beyond a simple digital asset.
- Outlook
OpenPay has the potential to become the core infrastructure needed for Pi Network to transition from a ‘mining-centric project’ to a ‘real-world economic platform’.
As the payment system operates stably and more merchants and Pi apps participate, the usability of Pi can increase.
However, in order for this prospect to become a reality, the following tasks remain.
- Securing sufficient affiliated stores
- Improved user convenience
- Compliance with country-specific regulations
- Stable payment processing
- Continuous ecosystem expansion
Ultimately, the success of OpenPay depends on how many users and operators actually use it rather than the technology itself.
If the payment infrastructure is widely adopted and actual use cases continue to increase, Pi Network's practical use ecosystem is likely to grow to the next level.