Frequently Asked Questions

Businesses

If you are buying them for use as an inducement to purchase your goods or services, then most countries do allow tax deductions for that purpose. You should however get tax advice from your accountant or tax office as to your specific business and when they are tax deductible, which could be at the time of purchase or at the time of gifting or they may not be tax-deductible at all in your country, please get professional advice.

Yes you can buy and hold MSPT Tokens indefinitely as they do not expire.

In social psychology, reciprocity is a social norm of responding to a positive action with another positive action, rewarding kind actions. It is very strong within the human psyche in almost all cultures, and this is how MSPT™engenders loyalty, which we believe is a powerful reason to return to your business.

Enough ETH is automatically transferred to facilitate your transfers of MSPT™ to your customers and if necessary, you can replenish your supply of ETH by buying it directly or by buying more MSPT™ Rewards points. There should be enough ETH sent to you to process many transactions.
If you sell or transfer the ETH you will have to purchase more yourself. However, if you have exhausted your supply or ETH through gifting MSPT™ and need more please contact us, please be aware we can tell the difference between legitimate use or whether you have transferred or sold the ETH.

Since the reward is a gift, customers are unlikely to be concerned about this – in fact, most are used to their ‘traditional’ points devaluing. Just about everyone has experienced the cancelation or devaluation of loyalty points or a business going broke and their points becoming totally worthless.

However, they are not used to their rewards points increasing in value which could be a very positive situation. A big bonus is that, should the gifting business go out of business for any reason, their MSPT™ points will remain the customer’s property in their wallet and retain their value and utility.

Consider also, if you were gifted Bitcoin from 10-years ago the fluctuations would not be of a major concern to you today. You may wish that you would have sold out at the top, but you would still be way in front with something that cost you nothing to get, and that is the whole principle of MSPT™ Rewards.

When a customer makes a purchase, they send their QR Code to you and that allows you to place their reward in their wallet. In the same way, if they want to pay using their MSPT™ Tokens, they send these to your at your wallet address which you provide via your QR Code. You can receive all, or part, payment in the form of MSPT™ Tokens, it is all easily done on the MSPT™ Rewards APP. You can also buy MSPT™ from an authorised exchange or from the MSPT.io website.

The MSPT™ Rewards program relieves the business of the responsibility of managing a loyalty program, so less paperwork and accounting. You can also remove the current liability off your business’s balance sheet by purchasing MSPT™ Tokens and replacing the points you have awarded customers with MSPT™ Tokens. Alternatively, you can cap your current liability by closing your old system to new members and awards and move to the MSPT™ Rewards program for all future transactions.

You should seek professional advice as to the possibility of MSPT™ being tax deductible with your accountant or Tax office.

GST, VAT or any other tax remains applicable on the relevant goods or services as per a cash transaction, please check with your accountant or Tax office.

In social psychology, reciprocity is a social norm of responding to a positive action with another positive action, rewarding kind actions. Customers are most likely to feel such reciprocity towards businesses that gift them a reward that has immediate use to them – for example, where they can use it in place of cash and use it anywhere in the world in unrelated businesses to the one that gifted the reward.
Tokens received from all sources can also be joined together to make a larger purchase or exchanged for cash via an exchange.

There really is no difference between the two as MSPT™ Tokens can be sold via the exchange at any time. However, as the rewards ecosystem grows and becomes more common as a means to exchange value, customers will realise that the tokens can be used in the same way as cash when paying for goods and services, and since the value is market driven, it could fluctuate in value in between purchases, possibly going up in value. They can also not be lost so will become a secure method to store value.

To join the program, you may want to purchase some MSPT™ tokens upfront – especially if you are gifting small amounts such as 10 or 20 cents for a cup of coffee. You have the choice to purchase a higher value initially or you can buy them on as needed basis. The decision is yours, though it could be to your benefit to purchase more at the outset so as to have a ready supply and avoid exchange or purchase costs. Value is based on supply and demand so the price can fluctuate. As demand grows, if the value increases, that could be to your benefit.
You will also receive payment in MSPT™ Tokens from time-to-time and you may need to top-up your MSPT™ Rewards Tokens when you have used them all.

You do that in the same way as you would offer a discount. For example, if you own a coffee shop you probably run a loyalty program whereby customers can earn a free coffee once they have purchased ten or twenty coffees from you. This amounts to 10% or 5% respectively of the value of the coffee at each purchase. In this case, you would do exactly the same with your MSPT™ Rewards Tokens. You’d gift 10%, or 5%, respectively, of the value of the purchase price to your customer.
You have full flexibility to design a system that works for you.

When you join the program, you will set up a wallet to hold the tokens you purchase as rewards.
When customers purchase from your store, they provide their wallet address to you and you transfer the amount accordingly via your smartphone, computer or through your scanning devices.

When you join the program, we provide a full Marketing Pack to you. This includes an electronic folder with artwork you can use on your website, social media accounts and all communications as well as a set of printable decals to display on your storefront, plus a selection of posters and flyers for use at point -of-sale inside your business.

Token Holders

No – if you are not a business purchasing MSPT™ for business use it is not tax deductible.

Yes, customers can buy them for later use and hold them for as long as you wish or even as a Gift Certificate for friends and family.

Enough ETH is automatically transferred to facilitate your transfers of MSPT™ to your customers and if necessary, you can replenish your supply of ETH by buying it directly or by buying more MSPT™ Rewards points. There should be enough ETH sent to you to process many transactions.
If you sell or transfer the ETH you will have to purchase more yourself. However, if you have exhausted your supply or ETH through gifting MSPT™ and need more please contact us, please be aware we can tell the difference between legitimate use or whether you have transferred or sold the ETH.

Although MSPT™ does not rely on speculators to work effectively, we cannot, as per any open and free marketplace, stop speculators from buying and selling MSPT™.

Your MSPT™ Tokens are safe in your wallet and you can use them at any other business that accepts MSPT™.

No – Tokens will remain valid into the future and should the business that awarded them to you be sold to a non-participating business, or go out of business, your Tokens will remain fully functioning and valued at the current market value.

No business can change the value of the tokens. The value is purely market-driven.

No, most Cryptocurrencies are driven totally by speculators as they have no actual utility and as such most go up and down, then trend downwards as speculators lose interest and sell off. Although MSPT™ will go up and down continually, it is more likely to fluctuate as normal markets do in response to demand. Demand will come from businesses and people using the tokens, as well as speculators within the Rewards ecosystem. The more the Tokens are used, the higher the demand will be, and that will have a positive impact on the value.

When a participating business awards an MSPT™ Token to a customer, it places the MSPT™ into the customer’s wallet. The reward then belongs to the customer who can use it at a participating location anywhere in the world, hold on to it or convert it to cash via the exchange. With businesses continually buying MSPT™ on an as-needed or bulk basis, the demand for MSPT™ increases and prices should respond per the laws of supply and demand.

There are two ways to get Tokens into your wallet – either you purchase them, or you receive them as a reward. If you purchase them, they will be transferred into your wallet within 72 hours if you purchase with cash or credit card, or almost immediately if you purchase using ETH. If you receive them as a reward, they are transferred to your wallet instantly when you provide your wallet address to the participating business.

You can buy MSPT™ by clicking on the “BUY TOKENS” button above and following the process. You will need a functioning Ethereum (ETH) wallet before you can purchase tokens. There are three options for setting up a wallet on the “BUY TOKENS” page.

The MSPT™ Token is a patented blockchain-based (using an Ethereum ERC20 Token) Rewards Token. Tokens will be used by businesses to reward customers in place of issuing the business’s own loyalty points which they issue and control. This is a huge plus for customers as the business can’t change the value of the reward after issuing it to you, and you can spend it an any participating business anywhere in the world. There is no restriction to use it at the business that issued it, or their affiliates.

The MSPT™ Rewards Program is a loyalty program used by businesses to reward their customers without all of the normal restrictions and conditions of traditional points.
As MSPT™ Rewards Program participators businesses will reward customers with MSPT™ Tokens instead of loyalty points which they issue and control. All a customer has to do to receive their MSPT™ reward tokens, is simply open an online cryptocurrency wallet in which to store their tokens. There are three options for setting up a wallet on the “BUY TOKENS” page.

Wallets

Yes, customers can buy them for later use and hold them for as long as you wish or even as a Gift Certificate for friends and family.

Enough ETH is automatically transferred to facilitate your transfers of MSPT™ to your customers and if necessary, you can replenish your supply of ETH by buying it directly or by buying more MSPT™ Rewards points. There should be enough ETH sent to you to process many transactions.
If you sell or transfer the ETH you will have to purchase more yourself. However, if you have exhausted your supply or ETH through gifting MSPT™ and need more please contact us, please be aware we can tell the difference between legitimate use or whether you have transferred or sold the ETH.

Customers set up their own wallets in the same way as you setup your businesses’ wallet, and they use their QR Codes or wallet addresses to send or receive tokens to make purchases or receive rewards. The entire transaction is digital – much like a credit card payWave payment.

When signing up to purchase MSPT™ you were not asked for a password. However, in order to return to the token purchase page at a later stage, you will need to log-in and click the “Buy Tokens” menu tab at the top of the screen. You cannot re-register with the same email address. To gain access you must set a password for the mail used when you signed up.

Setting or resetting your password:

  • Please click the login tab at the top of the page.
  • Click forgot password.
  • Enter the email you used at signup.
  • Click the link in the confirmation email.

You can locate your transaction History via one of the following places::

  • In the AltCoin transaction history located in your wallet.
  • From the “Pay Now” button on the mspt.io website.
  • Via the “Pay Now” button on the “Account” and “Profile” pages on the website.  
  • Via the “Pay Now” button from the MSPT™ Wallet. By clicking either the home or the activity buttons as highlighted in green you will be able to upload a file and check your transaction history by entering your email address on file with us, or contact us via the form.

If you experience any difficulty with any aspect of this site please contact us via the form.

Cash Account balances will be available on your profile page only for security reasons. This field is only visible to you. Other users cannot see this field in your profile. Deposits made via the “Pay Now” button will usually show up in your profile page 72 hrs after confirmation of cleared funds being received.

NO, you do not have to use the MetaMask wallet. You may use any Ethereum Wallet that you control the private keys to.

You will find instructions and links to set up the Trust Wallet from Binance on your mobile, or Metamask or My Etherium Wallet for desktop on the “Buy Tokens” page.

Use the following links to set your MetaMask Token-capable wallet. By using this wallet https://metamask.io/ and https://metamask.zendesk.com/hc/en-us. You will be able to transfer and receive tokens.

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