Payments and Financing
The PartPay protocol offers flexible payment options for equipment, including full payments and installment plans. This system allows buyers to choose the most suitable payment method while ensuring vendors receive secure and verifiable transactions.
Key Features of Payments in PartPay:
- Full payment options for immediate purchases
- Customizable installment plans for financing
- Blockchain-based transactions for security and transparency
- Integration with equipment NFTs and vendor collections
- Support for various payment actions and status checks
Payment Options:
1. Full Payments
Buyers can make full payments for equipment, completing the transaction in a single step. This process involves creating and confirming a full payment transaction.
2. Installment Plans
For buyers seeking financing options, PartPay supports the creation of installment plans. These plans are associated with specific equipment and include details such as:
- Total amount to be financed
- Number of installments
- Interest rate
- Payment schedule
Payment Management Functions:
- Create Installment Plan: Set up a new financing arrangement for equipment
- Get Payment Action: Retrieve information about a specific payment action
- Create Full Payment Transaction: Process a one-time, full payment for equipment
- Create Transaction Installment: Handle individual installment payments
- Check Existing Installment Plan: Verify if a financing plan already exists for a buyer and equipment combination
All payment transactions in PartPay are processed on the Solana blockchain, ensuring fast, secure, and cost-effective operations. The PartPayClient provides methods to interact with these payment functions, allowing for seamless integration into applications built on the PartPay protocol.