Proof-of-Processed-Payments (PoPP) acts as a provable way of identifying users and
distributing new currency into the system. At the same time, it rewards users who convert fiat currency into cryptocurrency.

For this identity-based, volume-dependent distribution network, Metal first identifies a user through a social security number or passport ID with identification software.

Second, Metal gets a photograph on file, either a selfie or picture of identifying documents. Third, Metal can link a credit or debit card number in preparation for processing a payment. If no credit/debit card is available, a user can sign up with only an email address and invoice credit/debit/ach accounts into cryptocurrency.

Provided all data points check out and the registered name on the identification matches the name on the credit or debit card, Metal initiates a payment using proprietary anti-money-laundering (AML) and anti-fraud technology. The payment typically declines or accepts in under one minute. The pending payment notification shows on the transaction list for the receiver of funds.

When the payment is completely settled and the bank transfer or cryptocurrency issued, a
portion of the gross amount of the payment is returned in METAL tokens. This is 5% of the
volume of the transaction at trading value for MTL in either direction (sender/receiver).

As an example, $100 in MTL is sent. It is trading $1/MTL. Both sender and receiver would both get 5 MTL.

In order for the receiver to claim the additional METAL, they must go through the KYC process and be identified as a separate person receiving the payment. If a user wishes to simply top-up their account with a crypto balance, they are eligible for a discount of the purchase price of the transaction in METAL, the parent company of Metal, collects fees for processing payments.

Credits: Metalpay Support