Noda Network (NCN)
It is a decentralized protocol for the automatic provision of liquidity!
A proprietary digital token that is used across the entire Noda ecosystem to manage and secure the network. Users can use NCN by linking NCN to the Ethereum blockchain to secure the payment network, use it to get discounts on the platform, convert to fiat, and securely exchange for other DeFi-based cryptocurrencies.
Once the user is authenticated to confirm their purchase intent, you don’t need to process their actual credit or debit card numbers. Instead, your app or website receives a payment object containing an encrypted payment token. This token encapsulates information required to complete a payment transaction, including a device-specific account number, amount, and a unique one-time cryptogram. The token can be decrypted by the merchant using the private key of the certificate, or by a payment service provider (PSP) on behalf of the merchant. After decryption, the token needs to be transferred to the payment service provider for processing.
1 Buyer: Transaction includes unencrypted billing and shipping contacts, and an encrypted payment token.
2 Merchant: Decrypts the payment token. The payment service provider can also do this.
3 Payment Service Provider: Uses a token to authorize an eCom credit / debit card that includes a one-time cryptogram.
4 Card Network: Verifies the token, transfers it to a debit / credit account and sends it to the issuer for confirmation.
5 Issuing bank: Receives a payment request and can approve or reject.
6 Requiring users to register for an account before purchasing is the main reason for abandoning checkout. It’s easy to checkout as a guest with Noda. After completing the purchase, you can provide the option to create an account and ID.
7 The token may include a username, billing address, shipping address, shipping method, telephone number and email address required to complete the transaction. Consider using the information provided on the checkout sheet to checkout and do not ask the user to enter any of these fields as this increases the abandonment of the purchase.