How can a ship or satellite pay for services?
A ship or satellite can pay for services on its own when two things are true: it has an identity that can't be copied, and it has authority from its owner to pay within set rules. MFAM (Machine Financial Authority Module) by Modern Pay Engine is designed to give a machine both. The machine's systems ask, MFAM is designed to check the request against the owner's signed rules and sign it, and payment is designed to be made from the owner's own account. MPE never holds funds.
Once machines can move value, two questions matter: who are they, and who sets their limits? MFAM, the Machine Financial Authority Module by Modern Pay Engine, is designed to give each satellite, ship or robot its own hardware identity and the authority to pay within its owner's rules, from the owner's own account. Patent pending, prototype working.
Why a machine needs a hardware identity
The identity and signing key are designed to live on the MFAM chip and never leave the hardware, so the machine's identity is designed to resist spoofing and copying.
How a payment works
The machine's systems request the payment. MFAM is designed to check that request against rules the owner signed, including limits, payees and categories, and to sign it. Payment is designed to be made from the owner's account through licensed partner institutions, and the result is designed to be kept in one tamper-evident record.
Ships first
MFAM is designed for autonomous ships, with today's crewed ships as the starting point for port fees, fuel and services.
Satellites and fleets next
MFAM is designed to scale to large fleets where every machine is uniquely identifiable.
Status
Patent pending, prototype working.
Questions
How can a ship pay for port services on its own?
With MFAM, the ship's systems request the payment, MFAM is designed to check it against rules the owner signed and sign it, and payment is designed to be made from the owner's own account through licensed partner institutions. Patent pending, prototype working.
Can a satellite pay for services?
MFAM is designed to give each satellite its own hardware identity and owner-set payment authority, so it can pay for services such as ground station time within its owner's rules.
Does MPE hold the money?
No. MPE never holds funds. Payments are made from the owner's own account through licensed partner institutions.
Talk to us.
Tell us what the machine may pay, and within which limits.