MintPaid integrates directly with many popular payment gateway and storefronts. From these integrations we can generate NFT records of customer purchase. When we see a new payment, you can choose for us to email the customer letting them know they can now mint the purchase as an NFT. If the customer decides to mint the NFT, they connect up their wallet, and we'll mint the NFT directly to them. They now have full ownership of the NFT verification of their purchase.

We recommend sending MintPaid NFTs alongside your existing receipts. This means you need to make no changes to your existing workflow.

You’ve probably heard a lot of people talking about NFTs, but might not be entirely sure what they are. NFT stands for Non-Fungible Token. Tokens are digital records. They can be a record of currency (like Bitcoin), or they can be a record of virtually anything else. Non-fungible means not interchangeable and unique. This separates out NFTs from currency like Bitcoin, where each coin is interchangeable with any other coin. Each NFT, on the other hand, is unique.

An NFT then is simply a unique record. What makes them significant is that, like Bitcoin, they are stored on a blockchain. A blockchain is a list of records, securely linked together, stored and verified by many people at once. Having an NFT as a unique record stored on a blockchain gives it a number of significant properties, particularly when formatted to meet commonly agreed standards. Most importantly, the NFT can be traded or sold and hence has value. Secondly NFTs are public, so can be accessed by anyone. Thirdly they are permanent - as long as the blockchain exists where they are recorded, they will continue to exist as well. There is significant incentive for these records to exist for very long periods of time.

While all these elements have existed in some form in the past, it is the way they are now brought together that has so many people excited. It's also that NFTs are distributed by design and not controlled by any single entity or person. In a world where governments and companies control everything around us, this returns control to individual people.

MintPaid uses AI models trained on billions of images to generate the art for your NFTs. Every customer will receive a unique artwork based on their purchase. The art generation works on both product images and text prompts. We can import your product images from your store to use as the base for the AI generated art. If you don't have product images or have a more abstract service, we can generate images using text prompts. We provide sensible defaults which allow you to get started quickly, but we also give you full control over the generation.

Art generation is a partnership between your company and the AI. You can create truly unique collections for your brand or product by exploring and customising the prompts used to generate the art.

NFT payment receipts allow customers to uniquely take ownership of their proof purchase. Traditionally companies own the entire payment processing experience. Physical payment receipts can be forged and the company themselves becomes the arbiter of truth for purchases. With NFTs, the customer owns the payment receipt and can verify it themselves and to anyone else. This is a huge step forward in customer trust and transparency.

Not only are NFTs secured by the protocol and chain they are minted on, but they also contain a signature which verifies they were created by the company which originally sold the product. This signature is publicly verifiable and also verifiable on the verification page provided by MintPaid. For onward sales it allows the owner of the NFT to verify publicly that they previously bought the product they are selling. It also gives the owner a sense of pride knowing that they own signed proof of ownership that can not be forged. The permanent nature of NFTs allow them to be recorded on the blockchain as long as the blockchain exists. This means that the customer can always access their purchase history and can always verify their purchases. NFT receipts will outlast paper and potentially even the product itself.

Another huge benefits is that NFT receipts are transferable. This will allow new mechanisms for marketplaces to exist where product sales are secured by the underlying NFT receipt. MintPaid will be enabling this functionality in the future, but it's also possible for third parties to provide this.

Finally, NFTs are public. This allows customers to publicly prove they've made a purchase in a way that anyone can verify. For social media influences this allows them to prove they own a product and that it hasn't been gifted to them and adds authenticity to their posts.

NFT receipts offer a wide range of benefits for merchants. Merchants can give additional value to their customers use NFT receipts to increase the price and authenticity of their sales. It encourages return customers and stops people turning to resellers or the black market.

Minting NFTs also provide an additional touch point for data collection for merchants. For privacy compliance, traditional methods of collecting customer information have become more challenging for companies. By offering customers to opt in to newsletters and other marketing, merchants can collect valuable data on their customers while the customer is minting their NFT receipt.

The public nature of NFT receipts also enable a number of secondary utilities for NFT receipt holders. Companies can offer access to exclusive services, such as dedicated customer support and exclusive forums to NFT receipt holders. Companies can provide faster RMA when customers can easily prove they made a purchase. By transferring the NFT back to the company during RMA, this provides a way to secure the RMA process without the transfer of funds. This will allow merchants to offer a premium service to their loyal customers.

Finally companies can even make money with their NFT collections. MintPaid allows merchants to mint their NFTs to dedicated collections which they control. Merchants can choose to add royalties fees to sales of their NFTs on some marketplaces such as OpenSea and Immuntable. This allows companies to have an ongoing revenue stream long after a purchase has been made.

NFTs are minted directly to the customer’s wallet. They are always owned and controlled by the customer. Once a MintPaid NFT has been minted, the company no longer has any control over the token. It can be transferred, sold or destroyed at the customer's discretion.

This is unique from traditional proof of purchases where all the verification information is typically only stored by the company who sold the product.

The only exception to this is when the original payment for which the token is minted is refunded or has a chargeback (see below).

MintPaid allows tokens to be minted as soon as a payment is made. This opens up the possibility that the original payment may be refunded or receive a chargeback after the NFT has been minted. In this case, we have a system to in place to invalidate these tokens.

While the token remains in the buyer’s control, an external verification system hosted by MintPaid now indicates that the token is invalid. In the future we are also exploring protection to stop revoked tokens from being transferred. We are also developing an external, cryptographically security verification system on the blockchain for invalidated tokens.

After 180 days it is no longer possible for a token to be invalidated. Typically, this is the maximum time period for a chargeback to be initiated by the buyer. Setting a time limit on invalidation means that older, high value tokens do not risk being revoked.

We do not charge any fees to either the merchant or the customer when minting an NFT. Companies can subscribe to a Business plan for additional features and a dedicated collection for their NFTs to be minted to. Business plans start from $98/month.

If an NFT is resold in the future, then for customers on our free plan, we take a small 2% royalty from the resale price on some marketplaces such as OpenSea and the Immutable X. For companies using paid plans, we do not take a royalty fee. Companies can choose to set their own royalty on these marketplaces to collect themselves if they choose to do so.

While NFTs are public, we only mint NFTs when the customer chooses to connect their wallet and mint the NFT for the purchase.

Only a small percent of purchases on merchants connected to MintPaid will be minted in this way. This percentage varies greatly between merchants and goods or services being sold. This makes extrapolating original sales numbers incredibly inaccurate. This is similar to data analytics on social media using other public sources such as Twitter. You can use the number of Tweets made about a company or product to extrapolate some sales data, but it would be extremely difficult to compare data between companies or perform any kind of meaningful analysis as so many factors influence the numbers.

The minted NFTs also only contain limited product information and the date of purchase. The NFTs do not include information such as the price paid, or the buyer’s information. In some cases the buyer’s information may be extracted from the wallet where the NFT is minted - for example if the NFT is shared on social media. These cases would be limited to a small number of customers and are similar to existing cases of sharing purchases on social media.

We are developing a system to obfuscate this data further using additional pseudorandom generated mints. This is a paid system targeted at enterprise customers. Please contact us for further information.

Not necessarily. The NFTs minted by MintPaid verify that a purchase was made for a given product, on a specified date from a given merchant. They do not directly verify the ownership of the product beyond acting as a proof of purchase.

However, unlike traditional proof of purchases, they are transferable. For many purchases we recommend that the NFT minted by MintPaid is transferred to a buyer and when a purchased good is sold.

For some high value goods, we expect that selling the NFTs itself would act as a proxy for transferring ownership of the product. Expect to see more in this space in the future!

NFTs run on blockchains. Blockchains can be bad for the environment as they consume large amounts of energy. Ethereum recently switched to using proof of stake which significantly reduces the carbon footprint of using Ethereum. However, there is still more work to do, and we don’t believe that this is a problem that should be left for the future.

We use Layer 2 protocols such as Immutable or Polygon to mint NFTs by default. They are cheaper and much faster, but most importantly a Layer 2 protocol allows for most of the work of minting and transferring NFTs to happen outside the blockchain. Essentially Layer 2 protocols group large numbers of transactions together and only sign a verification of the entire group to the blockchain. This retains all the security of the blockchain without the large amount of energy expenditure in committing each transaction individually. These solutions significantly reduce the carbon footprint of the NFTs we mint.

Additionally, Immutable offsets all their carbon footprint making them 100% carbon-neutral. The end result is that NFTs minted using MintPaid can have a negligible environmental impact - similar to using a website such as your online bank, Twitter or Facebook.