FactumPay

Discover the seamless power of FactumPay – a widget crafted for the next era of web interactions. As developers bridge the gap between their dApps and the evolving digital community, FactumPay serves as a tool to manage user subscriptions and account payment states, echoing the plug-and-play simplicity of Stripe. Yet, where FactumPay truly shines is its commitment to the unyielding principles of Web3, ensuring content creators don't just monetize but also decentralize with elegance. Here are the some of the FactumPay features that make it so powerful.

Integration with Metamask & Biconomy: We employ Biconomy's sophisticated session keys in conjunction with Metamask to easily create, fund, and utilize a users wallet in seconds. This synergy enables users to effortlessly set up and fund their accounts.

Controlled Permissions: Once an account is established, it grants limited permissions to our Payment Module, initiating an agreement for the monthly subscription fee. This is only possible because we leverage Biconomy’s Session Key technology. Session keys are a powerful feature of Biconomy smart accounts. They are temporary cryptographic keys that can be authorized to sign only a predefined set of operations. This means that users can share their session keys with dApps and other users to perform allowed operations on their behalf without compromising their security or self-custody.

Efficient Payment System: Each month, the user's session key serves as the gateway to facilitate payment transfers directly into our client's wallet.

Rigorous Verification Process: Our proprietary client service diligently assesses each incoming transaction, juxtaposing it with the user ledger. This meticulous approach guarantees the precision of user payment states.

Transparent Content Gating: By integrating with the client frontend, FactumPay ensures that user management and content access are driven by real-time, on-chain payment verifications. While our clients sustain a lightweight backend service to stimulate the smart accounts and oversee user payment statuses, the true magic resides in the on-chain actions. Every payment, every transaction, and every interaction with the smart account is authenticated and executed on-chain. Clients do not have access to personal information such as email or phone numbers allowing users to be sure their data is safe and privacy ensured.

FactumPay's design principle revolves around fostering trust. Users can rest assured, knowing they're shielded from exorbitant bills or untimely charges. The stringent payment permissions, as defined by developers and affirmed by users, are strictly adhered to by the contract. Every payment existing on chain, allowing for far higher levels of transparency than any web2 solution. FactumPay fortifies the relationship between web3 creators and their privacy-savvy audience.

Elevate your dApp experience with FactumPay – the future of transparent, decentralized subscriptions.

Technical Deep Dive on FactumPay

FactumPay is a subscription widget for dApps that leverages Biconomy Smart Accounts and session keys to provide a seamless and user-friendly experience.

Biconomy Smart Accounts

Biconomy Smart Accounts are a type of digital wallet that allows users to interact with web3 applications without having to pay gas fees. They are based on account abstraction, which is a new Ethereum standard that separates the concept of a user account from the address that is used to send and receive transactions.

Session Keys

Session keys are a powerful feature of Biconomy Smart Accounts. They are temporary cryptographic keys that can be authorized to sign only a predefined set of operations. This means that users can share their session keys with dApps and other users to perform allowed operations on their behalf without compromising their security or self-custody.

How FactumPay Works

FactumPay works by creating a Biconomy Smart Account and session key for each new subscriber. The session key is then used to create a subscription contract that authorizes the FactumPay backend to ping the user's Smart Account when their payment is due.

The FactumPay backend maintains a ledger of user data, but importantly, it is all pseudonymous unlike traditional web2 user management. This means that the FactumPay backend does not need to know the user's real identity in order to process their payments.

When the user's payment is due, the FactumPay backend uses the session key to ping the user's Smart Account. The Smart Account then verifies the validity of the payment and, if it is valid, attempts to send the agreed-upon funds to the client's wallet.

The FactumPay backend continually cross-references the transaction addresses with the internal user ledger to update the user's payment state. This information is then easily queriable by the client to manage user permissions and content gating.

Benefits of Using FactumPay

FactumPay offers a number of benefits for both dApps and their users:

Seamless user experience: FactumPay provides a seamless user experience for subscribers, as they do not need to worry about paying gas fees or managing their own Smart Accounts. Pseudonymous payments: FactumPay allows users to make payments without revealing their real identity. Flexible subscription options: FactumPay supports a variety of subscription options, including recurring payments, one-off payments, and metered payments. Easy integration: FactumPay is easy to integrate with existing dApps. Conclusion

FactumPay is a powerful subscription widget that can help dApps to increase their subscriber base and improve their user experience. It is a secure and user-friendly way to process payments in web3.