People are unable to do digital payments because of the following points:

  1. Lack of Internet and smartphone phone access: Of 1.1 Billion+ mobile phone subscribers, only 550 million use smartphones and remaining half use feature phones. Of 550 million smartphone users, only 440 million have 4G connections.

  2. The Last Mile Problem: Even though India has one of the lowest 4G mobile data prices in the world, the distribution infrastructure is not good enough for both: highly dense population areas and remote areas. Thus the end-users are not getting good enough internet services.

  3. Trust Issues: There is still a lack of trust towards digital payments such that their accounts may get hacked henceforth people don’t consider digital payment system is safe. People of these categories may don’t have proper knowledge and experience about digital world, lack of exposure and understanding of its operational function.

What it does

An Intuitive AI-Driven Secured Offline Mobile Payment app for the Last Mile that can even work on feature phones. Yuva Pay solution:

  1. Works without internet connection: Yuva pay app works both on the internet and no internet zone. Where users do not need to depend on internet bandwidth for digital payment. Internet not required for both Payer and Receiver. Payments can be made through offline QR Code scanning.
  2. Device-independent: Yuva pay works on both smart and feature phones where users only need access to a mobile network to complete transactions.
  3. Highly Secured: End to End Encryption with Multi-factor authentication which prevents hacking and Enables Privacy Protection.
  4. Wallet: To use other digital payment application it is must for a customer to have a bank account. But when it comes to Yuva Pay application users need not connect with banks. They can make digital payment with the help of Yuva pay wallet: YuvaPay wallet users which they can top up or load Yuva pay wallet through Yuva Mitra Agent.
  5. Customer Service: If the customers find any difficulty to use Yuva pay application the customer support team will assist and educate them in person.

How Offline Payments Work - Smartphone Based

  1. User when onboard our app is given YuvaPay wallet where his balance transactions are recorded in-app and on our servers.
  2. User refills our wallet with a small amount by connecting his bank account using Finastra Current and Saving Account Onboarding and Account Information(B2C) & Consumer Profile APIs.
  3. Now the user doesn't have Internet connectivity and has to make a payment.
  4. Our app will open offline and lets the user enter the phone number of the recipient and chooses the amount to be transferred.
  5. Our app auto-sends SMS to our server system where the SMS with the amount and phone number data is processed and checked for integrity and amount is transferred to the recipient wallet. Success 200 code.

How Offline Payments Work - SMS Based

  1. User onboards our app by sending SMS to our server system number.
  2. Our server generates his wallet and profiles and gives SMS templates to the user like balance check SMS, transfer money SMS etc.. for the user to do banking with SMS.
  3. Whenever the user wants to send money to someone, he has to send SMS to our server and the flow continues as above.

How I built it

  1. Google Slides
  2. Figma
  3. User Research

Challenges I ran into

Analyse and understand the tech behind the SMS and Offline payments were a challenging job.

Accomplishments that I'm proud of

I was able to go through Finastra APIs and was able to generate a use case that could be of great use for the unbanked users around the globe.

What's next for YuvaPay, Offline Payments for the Unbanked

Get mentored, prototype, user acceptance and market acceptance testing and then build it as a production project for rural India.

Built With

  • coffee
  • figma
  • finastra-api
  • google-slide
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