Everus Focuses on CryptoCommerce & Merchant Onboarding

Everus Focuses on CryptoCommerce & Merchant Onboarding

KUALA LUMPUR, 19 th October 2017Everus Technologies Sdn Bhd, a young blockchain fintech startup
that took an alternate route to market without an Initial Coin Offering (ICO), is looking to accelerate
mainstream adoption of cryptocurrencies by focusing on the development of cryptocurrency commerce
(CryptoCommerce) and streamlining their merchant onboarding processes.

Everus, a Malaysian born company founded by Srinivas Oddati conceptualized a mobile application
called Everus World – an integrated, multi-vertical commercial and financial ecosystem that offers its
users services such as remittance, payments, online shopping, location-based services, peer-to-peer
microfinance and trading.

The EVR cryptocurrency
Since the conceptualization of Everus World in 2016, the company has delved into market research, with
consumers, merchants, regulators and financial institution. This exercise was in line with their efforts to
accelerate mainstream adoption, and transition cryptocurrency from its current state of volatility and
speculation into a more stable, spendable form of money.

The EVRs – pronounced Evers, are the native cryptocurrency of Everus World. EVRs were created on
Ethereum’s ERC-20 token standard, with a total supply of 999,999,999 coins. EVR Genesis has been set
for 30th October 2017.

It starts with a (smart) wallet
As cryptocurrency adoption and utility expands at a steady rate, its inclusive benefits and trajectory
clearly points to a future of global, widespread use as a form of alternative money and eventually,
regulated governmental acceptance.

Everus also foresees the other side of the current regulatory fog where governments and central banks
are finding ways to classify and regulate this disruptive, alternate financial system.
Everus seeks to bridge the consumer-regulator gap with solutions that aid compliance, such as tax-smart
cryptocurrency wallets with built-in accounting software, clearly separating investing and spending
functions – complete with KYC/AML/CDD processing.

Spendability begins with merchants
In October 2017, Everus launches its Everus Merchant Onboarding (EverMO) to bring merchants into
Everus World. This task, however, is as challenging as it is rewarding.
Even without the risk of fraud and chargebacks, and with lower transaction fees, Everus needs to
overcome other barriers to boarding merchants onto cryptocurrency commerce. The high volatility and
low liquidity of cryptocurrencies prove a huge risk to merchants big and small.
To bridge this gap, Everus is developing a wallet-side exchange mechanism where customers pay
cryptocurrency and the merchants receive their respective national currencies.
To achieve a faster, more scalable merchant onboarding process with lower cost-per-activation, Everus
is developing an automated underwriting and alternative risk scoring system (also for use in

For quicker expansion, APIs and plugins are being developed to integrate into all levels of the merchant
value chain, including payment gateways, payment service providers, merchant service providers, e-
commerce platforms and merchant websites, allowing Everus to access and activate entire networks of
online merchants efficiently.

Ecosystem gamification for adoption and retention of users
It’s the payment method, not the underlying currency, which makes consumers feel at ease. To meet
consumers’ needs for rewarding experiences, trust and reliance, convenience, security, belonging, lower
costs and instant gratification, their UI/UX team is creating a fresh user interface and experience – with
gamification applied across all services within Everus World.

At the base of its gamified journey are Everus Experience Points (EXP) – the foundational units that
quantify a user’s progression through Everus World. EXP will be earned by performing actions such as
remittance, shopping, making payments, and even basic wallet functions like accounting your EVRs.

As more EXP is gained, and as the user levels up, he/she is incrementally rewarded with lower
transaction fees, bigger discounts with merchants and increasing crypto-rebates at the Everus Mall.

The Everus Mall
A place to spend EVRs, the Everus Mall is a crypto-only e-mall that features a wide range of products,
from the latest gadgets to home appliances, purchasable at substantial discounts with EVRs.

With EVR Genesis set for 30th October 2017, cryptocurrency users are invited to register their basic EVR
wallets at the website as the components of Everus World are progressively released in the coming

Next Bank Negara Malaysia’s Move to Prevent Crypto Abuse

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