Guide

How JetSet works and what it costs

JetSet is a wallet app: you scan the QR code on the till, check the amount and confirm with Face ID, and the payment goes to the till in JETS, a token on the Stellar network. The vendor pays JetSet’s fee: 1.5% of each till payment. You pay the amount on the bill. Nothing is charged on the test network. JetSet covers the network fee, and how you get JETS is not decided yet.

Updated

Paying

You scan the QR code on the till, check the amount and confirm with Face ID. The payment goes from your phone to the till on Stellar. There are no card networks in between.

Getting paid

The vendor enters the sale in JetSet Vendor, the till app. The till shows a QR code carrying the amount and a reference, and shows Approved when the payment arrives on the Stellar ledger.

JETS

JETS is a token on the Stellar test network with a fixed supply of 100,000,000. The account that issued it is locked, so it cannot issue more, and clawback is off.

JetSet is a testnet beta.

Your keys

JetSet never holds your funds. Your keys are made on your phone and stay there. They are kept in its secure storage behind Face ID.

The app shows you a 24-word recovery phrase when you set up. It restores your wallet on a new phone.

What it costs

The vendor pays JetSet’s fee: 1.5% of each till payment. You pay the amount on the bill. Nothing is charged on the test network.

JetSet covers the network fee. How you get JETS is not decided yet.

Where things stand

This is where things stand today:

  • JetSet is a testnet beta.
  • Android is coming.
  • Cash withdrawal at a JetSet machine is coming.
  • How you get JETS is not decided yet.

Sources

  1. JetSet, the JETS token’s public record (stellar.toml), Stellar test network. Checked .The JETS token’s fixed supply, its locked issuing account, and that clawback is off.
  2. JetSet, home page: how a payment works and where the keys live. Checked .The steps for the person paying and for the till, and where the keys are kept.