Why OnionPay?

To elaborate on the points made on our home page, most merchant account services only process payments using credit cards or bank accounts. Meanwhile, physical cash can only be used for face-to-face transactions -- which are rather difficult to perform online! Fortunately, the Ascension System can effectively digitize any form of value which has a voucher Issuer backing it, and turn that value into privately circulating, untraceable cash in digital form. Currently there are voucher Issuers for USD and CAD, gold, silver, Bitcoin, Litecoin, and others. Combined with an OnionPay merchant account, this gives any online merchant the ability to do business with the privacy of cash in any of these currencies -- but with customers anywhere in the world!

Mainstreet merchant payment services always require extensive documentation from merchants in order to open accounts, and frequently from the customers as well. This documentation, known as "KYC" (Know Your Customer) or "AML" (Anti-Money Laundering) data is ostensibly required to prevent crime. This however is pure propaganda. Such identification measures fail spectacularly to prevent criminal activities such as theft or fraud, and in fact have spawned a whole new criminal industry surrounding identity theft, which a 2007 US govt study estimated is now larger than the global trade in illegal drugs.

Indeed, it's even worse than that. The true purpose of AML procedures is to enable crime, by rendering the economic activity trackable, and thus susceptible to tax looting by criminals in the public sector. Piratical public criminals are vastly more vicious and voracious than their counterparts in the private sector, to say nothing of being above the law by virtue of being in control of it. Let's face it, legit is dead!

Opening an OnionPay merchant account requires only a contact email address, which is used solely as a response channel in the context of a customer service inquiry. OnionPay can securely process payments from your customers, yet stores no transaction data, keeps no records, and will automatically forward value received to you. Most importantly, OnionPay charges merchants no payment clearing or account fees. None!

How does it work?

Borrowing a concept from public key cryptography, an OnionPay merchant account consists of a public wallet and a private wallet. (These wallets exist within the Ascension network.) The merchant's SCI (shopping cart) supplies the address (number) of their public wallet to customers, who make their digital cash voucher payments to that wallet. The OnionPay payment gateway picks up and verifies each payment made to the merchant's public wallet. It then notifies the merchant's website that the payment was received. The value received is automatically swept from the public wallet to the private wallet, according to criteria set by the merchant.

Thus the OnionPay system has access only to the merchant's public wallet, but never to the merchant's private wallet, where all the money ends up. This means that while the OnionPay system functions by going through the same steps as any other payment gateway, the money doesn't remain within the control of OnionPay, and the customer never sees the address of the merchant's private wallet. This makes hacking into the merchant's account (either on OnionPay or their public wallet) very unprofitable, and therefore pointless.

Likewise all receipt data (the transaction history) is stored only in the public wallet, until the merchant deletes it. No transaction data is ever stored by OnionPay. (And our source code is published, if you'd like to verify that claim for yourself.) A merchant may have any number of accounts, serving any number of websites, and replace those accounts at will. Essentially, this means merchants do not have to trust OnionPay.

So how is this done with no fees?

This is all possible because each OnionPay franchise is registered with a Voucher Publisher in the Ascension network. When customers make voucher payments to OnionPay merchants, usage tokens are expended. Because the payment pickup processed by OnionPay is tagged with the hash ID of the OnionPay franchise, the number of payments made to OnionPay merchants can be tallied. The Voucher Publisher simply kicks back a portion of the total tokens consumed to the OnionPay franchise, based on the number of transactions. Thus merchants and their customers need pay no transaction fees or account fees. It's private, and it's free!

For more in depth and supporting information, check out our Links page or FAQ.