Adoption of cryptocurrencies in everyday payments is difficult due to already widely adopted payment solutions like UPI and stiff mindset of retailers. The hesitation of people who want to get into crypto is evident as there is no easy way out.
What it does
- We allow merchants to start accepting crypto by seamlessly integrating it with their current infrastructure.
- Paying to merchants with crypto is as easy as scanning their already installed UPI QR code.
How we built it
We built it using react-native for the app and ethersjs.
Challenges we ran into
The main challenge we ran into was deciding on the income stream without compromising on the user experience by taking a significant cut from each transaction.
Accomplishments that we're proud of
We've won several hackathons from reputed colleges like National Institute of Technology, Karnataka and Vellore Institute of Technology, Vellore with this.
What we learned
On our journey, we've learnt many important lessons on business modelling and what's feasible and what isn't from a technical as well as business perspective.
What's next for YonkoPay
We still have a long way to go. We're always looking for ways to make our platform better and grow it into something much much bigger.