How Multis is Making Crypto Payments Easier

June 1, 2021
Geetanjali Sharma

Digital assets and blockchain technology are making legacy structures obsolete. You can send money across the world for a fraction of what a wire transfer costs and it arrives instantaneously

But with great power comes big responsibilities.

Nothing can stop human errors, technical glitches and human behavior. To your horror, you realize that you added an extra zero, or copy-pasted a completely different wallet address. And transactions are irreversible.

Building a Crypto Wallet for Businesses

At Multis, we are building a crypto wallet for business. We know from personal experience, and from talking to over 150 entrepreneurs in the space, that payments are a particular source of stress for companies. One of our goals is to take out the stress out from making payments in crypto. We are doing this by building an amazing payment wallet using Gnosis Safe - for best in class security and UX. And we have also added extra features that can encourage "good wallet hygiene" and make payments less anxiety-inducing.

Integrating Contact Book for Payments

We don't want people copy and pasting wallet addresses when they're sending money. If you are an Ops or Admin Professional, you are bound to make a mistake at some point. Even "crypto geniuses" can make mistakes.

So in order to make a payment on Multis, the recipient needs to be saved as a contact first (remember our contact book feature? 😉)

All you need to do is:

  1. Add a Contact Name
  2. Add their Wallet Address
  3. Select a Network (ETH or BTC for the moment)
  4. You can also add a note for further reference (it's not required but it can be helpful)
Screenshot 2021-06-01 at 17.04.43.png
Saving your counterparties as contacts makes payments foolproof

This extra step is designed to save users from themselves and to ensure that they are always sending payments to the right person with the right address.

Promoting Wallet Hygiene

Screenshot 2021-06-01 at 16.14.39.png
When contacts are saved transactions are easier to read!

We are designing our accounts to have technically sophisticated features (like tracking all company wallets, making labels) as well as to include behavioral nudges that encourage good "wallet hygiene" or best practices for dealing with your company's crypto. 

By saving a wallet address as a contact with a name, it means that the outgoing transaction will be more legible. You can also filter the transactions by wallet address, asset and amount. Not only that, you can add an attachment, write a note ( and use emojis 😉 ) and label the transactions. This makes tracking and understanding the multiple transactions to keep your crypto business running easy.

Get the Guide!
Breaking Legacy: A CFO's Guide to DeFi & Digital Assets
Decentralized Finance (or DeFi) and digital assets aren't just a fad or a bubble. They have the potential to provide value to people typically underserved by traditional banking systems, in particular small and medium sized enterprises. Learn how SMEs can leverage decentralized financial services including:
High interest savings accounts that earn more than traditional bank accounts
Accepting payments in digital assets before incorporation
Receiving instant loans
Invoice financing solutions
Paying salaries instantly in digital assets with no cross-border payment fees
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