What's New in Copperx's Payment Processing Contract?

At Copperx, we are driven by a commitment to continuous improvement, ensuring that our platform evolves to meet the dynamic needs of our users. Today, we’re excited to unveil a major update to our payment processing contract. This update addresses critical issues and introduces powerful new features that will enhance both security and efficiency for our users.

This article will dive deep into these key enhancements and explain how they can benefit your business.

Key Enhancements

1. Unified Payment Address Across All EVM Chains and Supported ERC-20 Tokens

One of the most significant improvements in our updated contract is implementing a unified payment address across all EVM chains and supporting ERC-20 tokens. Previously, each transaction generated a unique payment address for different tokens and chains. While this system worked, it came with considerable risk: if a user mistakenly sent the wrong token to an address meant for a different token, the funds could be lost permanently.

With our new update, this issue has been resolved. Now, a single payment address is used across all EVM chains and supported ERC-20 tokens. This means that even if a user sends the wrong token to an address, those funds can be easily recovered. This change not only safeguards your business from potential losses but also simplifies the transaction process for your users, reducing the chance of errors and enhancing overall trust in the system.

2. Automatic Collection of Payment Processing Fees and Gas Costs

Managing payment processing fees and gas costs has historically been a manual and sometimes cumbersome process. Businesses often had to handle these tasks through monthly invoicing, which added to the administrative burden and sometimes led to delays or errors in revenue collection.

Our updated contract introduces automation to this process. Now, both payment processing fees and gas costs are automatically collected at the time of the transaction. This automation ensures that your financial management is more streamlined, reducing the need for manual intervention and allowing you to focus more on your core business activities. This feature not only simplifies your operations but also ensures that your revenue is collected promptly and accurately.

3. Split Payments for On-the-Fly Distribution

In response to requests from many of our users, we are proud to introduce the Split Payment feature in our new contract. This feature is particularly beneficial for businesses that need to distribute payments among multiple contributors, affiliates, or partners directly from a single transaction.

With the Split Payment feature, you can now configure your transactions to automatically distribute a portion of the payment to multiple addresses. This capability is especially useful for managing collaborations, rewarding partners, or distributing affiliate commissions. It eliminates the need for manual calculations and multiple transactions, making your payment processes more efficient and transparent. Whether you’re running a marketplace, managing a partnership program, or working with multiple stakeholders, this feature simplifies your financial management and ensures that everyone gets paid accurately and on time.

Visualizing the New Process

To help you better understand these enhancements, we’ve included a diagram that outlines how payments are now processed and split across multiple addresses. This visual representation will give you a clearer picture of how these new features work together to streamline your operations.

Looking Forward

These updates mark a significant milestone in our mission to provide secure, efficient, and user-friendly payment solutions. By addressing key issues and introducing innovative features, we’re confident that these changes will enhance your experience with Copperx and empower you to manage your crypto operations more effectively.

As we continue to innovate and improve our platform, we remain committed to delivering the best possible experience for our users. We appreciate your continued trust and support, and we look forward to sharing more exciting updates with you in the future.

Stay tuned for more updates, and as always, feel free to reach out to our support team here.