NAKA Scheme: Bridging the Gap Between Blockchain and Traditional Finance


NAKA Scheme: Bridging the Gap Between Blockchain and Traditional Finance

Adhering To The Payment Industry Security Standards

In the fiercely competitive realm of global payments, where every other blockchain-based payment solution tries to disrupt the legacy, NAKA is carving a niche by seamlessly merging the best of traditional payment systems and the transformative potential of blockchain technology. By leveraging the existing payment infrastructure, we are simplifying the acceptance of cryptocurrencies while saving both money and time for merchants. 

NAKA enters the payment scheme world with a commitment to uphold industry security standards, ensuring that it can be effortlessly integrated into existing payment infrastructures, mirroring the ease of engagement provided by the industry giants. It leverages blockchain to streamline transactions while adhering to the rigorous standards and practices that have made Visa and Mastercard household names in payments.

NAKA Payment Scheme Adheres To The Payment Industry Security Standards

The NAKA scheme is compatible with crucial standards in the payment industry: EMV (Europay, MasterCard, and Visa) and PCI DSS (Payment Card Industry Data Security Standard) designed to ensure the security and integrity of payment systems and transactions. 

The EMV standard enjoys universal support across all point-of-sale (POS) payment systems that cater to Europay, Visa, Mastercard, and other mainstream payment networks. Adhering to this standard allows for seamless integration of our solution into global payment infrastructures with minimal software adaptations required.

The PCI DSS standard, a pivotal security measure for transactions conducted through EMV systems, serves as a defense against card payment fraud, encompassing both POS terminals and e-commerce platforms. NAKA strategically leverages the PCI DSS standard through our trusted partners, ensuring PCI DSS compliance.

Our commitment to aligning with both EMV and PCI DSS standards signifies the incorporation of decades of industry best practices embedded within these benchmarks. Consequently, we deliver a comprehensive security package, encompassing security, speed, anonymity, and more.

How Does a Card Scheme Work? 

The NAKA POS terminal, used by merchants, functions similarly to any other EMV (Europay, Mastercard, and Visa) terminal. 

The NAKA card is equipped with a microprocessor chip, generating a distinct code for each transaction, providing an additional layer of security. This process, known as "dynamic authentication," ensures that each transaction is accompanied by a unique code, rendering it exceedingly challenging for fraudsters to duplicate or misuse transaction data in the future.

The generated transaction code, along with other transaction details, is sent to the acquirer and then through the NAKA payment network to the card issuer for approval. The issuer verifies the code and checks for any suspicious activity. If everything checks out, and if there are enough funds available the transaction is approved. After the issuer approves the transaction, the approval is sent back to the NAKA POS terminal completing the transaction.

Overall, the EMV technology, supported by NAKA significantly reduces the risk of counterfeit card fraud. Adhering to the standards is a crucial step in enhancing the security of card transactions.

The distinctive feature that sets NAKA apart from conventional payment giants like Visa and Mastercard is the fact that it operates on Blockchain, enabling the execution of transactions and settlements through the use of smart contracts. It facilitates a one-way communication approach, where transaction confirmations and fund transfers occur simultaneously. This unique approach positions NAKA at the intersection of traditional and cutting-edge payment technologies.

Minimal Key Payment Parties Involved

The upcoming section offers insights into the current closed-loop, currently undergoing development in two main markets. However, it's essential to note that our scheme and the underlying technology are adaptable and inclusive to all players in the payment industry.


Merchants using the NAKA POS software can accept multiple payment methods in one solution. In addition to the globally accepted payment cards, like Visa, Mastercard, Diners and others, NAKA merchants accept on-chain payments with the NAKA card, popular digital payments and crypto payments (Bitcoin on Lightning and USDt on multiple networks), also powered by NAKA. Presently, we are actively onboarding merchants in Lugano, Switzerland; San Salvador, El Salvador; and Ljubljana, Slovenia. To signify your interest and initiate contact with our sales team, please visit the following link.


The acquirer acts as a crucial intermediary, forging partnerships with merchants for seamless payment integration. It oversees transaction intricacies, secures authorizations, and ensures efficient fund transfers to merchants. 

To ensure access to a broader payment acceptance landscape, allowing acquirers to tap into previously cash-centric customer bases and expand their merchant portfolios - we are launching the NAKA Acquirers Program


The issuer authenticates the NAKA cardholder and checks if the cardholder has a sufficient amount of funds in accordance with the requested transaction. Its confirmation travels back to the payment scheme, acquirer and finally to the POS device, successfully confirming the transaction. After a short reservation period, the funds are transferred from the cardholder smart contract to the acquirer smart contract.

During the launch phase of the NAKA card, the NAKA Decentralized Application serves as a self-custodial issuer, rendering the solution entirely decentralized. As we progress, the NAKA card will be available in both custodial and non-custodial options, providing the flexibility for diverse entities to become card issuers and extend distinctive benefits to their client communities. 

NAKA cards can be issued as principal NAKA issuers or through partnerships with selected NAKA issuing partners. NAKA is facilitating the onboarding process through its NAKA Issuers Program.


Merchants who are using NAKA PoS solutions can now accept payments with NAKA cards in addition to other payment options available on their POS devices (other payment cards, digital and crypto payments). 

Individuals can already obtain a NAKA card by applying to our NAKA Card Waitlist, currently available for the Swiss and Salvadorian markets. The onboarding process is user-friendly and only requires a smart device and an internet connection. In the future, users will be able to buy NAKA cards at various retail locations. 

Fostering Financial Inclusion On a Global Scale

NAKA's payment solutions have already reached 70 markets globally. The recent introduction of its flagship products, the NAKA card and scheme, in Switzerland and El Salvador has seen active engagement at over 400 locations. Through strategic partnerships with trusted entities in both traditional and blockchain payment sectors, NAKA is dedicated to delivering a seamless and unified payment experience, fostering financial inclusion on a global scale.

NAKA’s Holistic POS solution provides needed financial infrastructure for merchants to accept multiple payment methods on one device or eCommerce platform: all globally accepted payment cards, the NAKA card, popular digital payments (supported providers differ according to the market, such as WeChat Pay, Alipay, Flik and others) and crypto payments (Bitcoin on Lightning, USDt on multiple networks and more than 70 different cryptocurrencies through Binance Pay, Wallet and Elly Wallet). This makes NAKA’s POS solution the most comprehensive solution on the globe.

We are eager to forge partnerships and join hands with industry leaders like you. To explore the endless possibilities, we invite you to fill out our Partners form and embark on a journey of innovation and collaboration in the world of payments.

NAKA stands as a blockchain-powered financial ecosystem, seamlessly connecting traditional and decentralized finance with an unwavering commitment to decentralizing payments and fostering financial inclusion for everyone. 

Through the introduction of our decentralized financial ecosystem, we are dedicated to realizing Economic Freedom and Financial Inclusion on a global scale.