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PayDocker Payment Methods: Token and Object

Help PayDocker
Updated

PayDocker offers two distinct, secure methods for processing transactions, ensuring the proper flow for different types of business exchanges: 

  1. Token for booking payments
  2. Object for service exchanges

We will go into detail about what each of these payment methods is meant for, and the limitations of each technique.

 

1. Token (For Booking Payments)

A Token is a temporary, digital agreement identified by a unique ID. Tokens represent payment for a specific booking and can be loaded with actual value at scheduled intervals. 

The Token Payment Flow

Tokens are designed for a per-booking payment process and are always initiated by the Buyer.

  • Creation & Issuance
    • Tokens can only be issued from the Buyer -> Supplier / Properties
    • Tokens can only be created when there is sufficient balance in the Buyer's account
    • Tokens can be loaded with different values at a scheduled time. When the payment due date arrives, the Token will be automatically loaded with the pre-agreed amount.
  • Disputes
    • If there is a mistake in the payment details or a refund is required, either party can raise a Token Dispute via the PayDocker platform.
  • Validity
    • A Token can only be redeemed or disputed during its specific Validity Period. Once this period ends, the Token becomes unusable, and any uncollected funds are frozen.

 

2. Object (For Service Exchange)

An Object is a unique, blockchain-powered digital asset that represents a completed service or product sold by Sellers on PayDocker. When a buyer purchases your service, they will receive and collect an Object from you. Payment will be sent from their PayDocker account to yours. 

 

  • Creation & Issuance
    • Objects can only be issued from the Supplier / Property-> Buyer
    • Suppliers can send it without requiring a balance, as the Object cannot be loaded with any value. It is merely a representation of the sale. 
  • Disputes
    • If there is an error in the payment details or a refund is required, either party can raise a Token Dispute on the PayDocker platform.
  • Validity
    • There is no expiry for Object exchange
    • Once an Object is sold (exchanged), it cannot be used in any further transactions.

 

Platform Safety and Usage Policy

Any transfer of funds on PayDocker must be based on a legitimate business transaction—you must be providing goods or services under a valid commercial agreement.

  • Verification: We may ask for documentation to verify the legitimacy of your payments and business agreements.
  • Outside Transfers: If a fund movement is not tied to a business transaction of goods or services facilitated on PayDocker, you must complete the transfer outside of our platform.

    Kindly reach out to our support team help@paydocker.com if you have any further questions. 

 

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