Products

CITL Merchant

Merchant Builder System A unique flagship payment system intended to spearhead the transformation of payment systems used by local businesses, from fiat currency to cryptocurrency based systems.

The system enables local businesses (e.g. supermarkets, hotels, movie theaters) to accept cryptocurrencies as means of payment for their goods and services without having to deal with the market fluctuations associated with cryptocurrencies. Businesses using our Merchant Builder System are guaranteed to dispose of their collected cryptocurrencies for fiat currencies at what was the operational Cryptocurrency Exchange rate at the moment the business transaction was completed.

Merchant Builder System is specifically customized to facilitate and ensure compliance with all applicable Government of Tanzania tax laws and regulations as enacted by the Parliament of Tanzania and administered by the TRA (Tanzania Revenue Authority). For example, the system automatically collects applicable value added tax (VAT) from the cryptocurrency transactions. The VAT collected is subsequently remitted to the respective local tax-collecting authority on behalf of the business.  The system is designed to allow cryptocurrency holders to pay for regular services such as utility bills (TV, Electric Power, Phone Bills, and Water Bills), Government Taxes, School Fees, Student Loans, Driving License, Passport, Company Registration and many others, the list is virtually endless.