RipplePay

Cross-border Payment Business to Business Solution on XRP Ledger

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Inspiration

I was building a product for a client. One of the functionalities of the product was to help users make and receive cross-border payment via cryptocurrencies and also withdraw their funds to their bank account. Before we could launch the product, the payment provider we were using for this particular functionality shut down. After so much research and trying to find another payment provider which was unsuccessful, we decided to scrap that functionality. I was unhappy with the situation and I made up my mind to build a replica of the payment provider and with more features. XRP ledger and CBDC Innovate Hackathon gave me the privilege.

What it does

RipplePay is a multi-currency business to business cross-border solution that can help businesses collect payment across the globe in different currencies.

  • A business signs up on RipplePay using their name, email, phone number and address.
  • A business ID, API-Key, XRP wallet address is generated for every business that signs up on RipplePay
  • The business integrates RipplePay into their business web or mobile app and provides their customers an option to make payment with RipplePay.
  • The business Initializes payment using their API-Key for a customer by submitting the customer's email address, a unique transaction id for that particular order and the amount (USD) the customer is to pay. to
  • The response generated after initializing payment includes a unique xrp wallet address tied to the order generated, a unique payment-link and the xrp, japenese yen, euro and naira equivalence of the amount the customer is to pay.
  • Our system listens to when payment is made into the generated xrp wallet address. After a successful payment, we transfer the amount to the business base address and create a transaction record for the business with the transaction id, customers email, xrp amount deposited, the wallet made the payment and the date.
  • After creating the transaction record, we intend on sending the transaction record details to the business webhook url provided on their RipplePay dashboard as to notify the business about the payment made.
  • The business can also make withdrawal from the RipplePay account to their choice xrp wallets in either USD, NGN, JPY and EUR.
  • We also intend on adding the currency conversion feature.

How we built it

The process of building software involves several key steps and methodologies. Here's a general overview of how software is typically developed:

** Idea Generation and Planning:

  • We defined the problem we are trying to solve and how it fits into the vision of CBDC.
  • We planned the features, functionality, and scope of the software.
  • Created a rough outline of the project, including user stories and requirements. **Design:
  • Create a high-level architectural design of the software. *Define the database structure and data flow. *Decide on technologies, frameworks, and tools to be used.

** Implementation: *We code according to the design specifications. *We developed individual components and modules. *We applied best practices, coding standards, and design patterns.

**Testing:

  • Conduct unit testing to verify the correctness of individual components.
  • Perform integration testing to ensure different modules work together.
  • We executed system testing to assess the software as a whole.

** Identify and fix bugs and issues.

  • We created a little documentation on how to go about RipplePay in our Git repository ReadMe file

** Implement security measures to protect against vulnerabilities and threats.

  • We ensured users authentication
  • We used .env file to house our third party api's and signing keys.

Challenges we ran into

** At first it was difficult finding my way around with xrp ledger, but thanks to xrp discord developers community that were always there to help.

Accomplishments that we're proud of

** Building this project was not easy, but we are happy that we have something to lay hold on before the end date. We are happy to provide a potential solution to the issue of cross-border payment experienced in different regions of the world.

What we learned

** This is my first time using xrp ledger and I learnt that it provides the best solution for building solutions that are in line with CBDCs vision. These key features includes adding of trust-lines,auto cross-bridging, less cost of transactions and quick transactions on the xrpl ledger.

What's next for RipplePay

** We hope to win the grand prize or at least, emerge as one of the top six finalists. We have more features to integrate and will be needing capital to get RipplePay up and running as a solution that businesses can leverage to complete cross-border payments without hassles.

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