The problem Crypto Cash Card Network on Base - "Regen Card" solves

Our system solves these problems that arise from centralized card issuance:

First - High Fees

Payment card networks take 3-5% per transaction, costing individual small businesses tens of thousands of dollars each year. These vendors often pass these costs on to consumers, increasing the price of all goods across the market.

We can offer the same payment card user experience while reducing transaction fees down to 1%, saving small businesses and the average consumer money, and decentralizing the entire payment card tech stack from issuance to acceptance.

Second - Centralized Card Issuance

Getting a payment card often requires issuance by a financial institution. Our technology turns consumer grade nfc tags into self custody payment hardware wallets, meaning any company selling nfc tags on the internet turns into a decentralized card issuer simply by selling these nfc tags.

Third - Centralized Point of Sale Terminal Network

Small businesses often need to rent point of sale terminals that sync with their mobile devices or tablet to accept payment cards. Our cards work directly with the NFC reading technology on the mobile device, turning every mobile device around the planet into a decentralized point of sale terminal network that can accept our payment cards.

Challenges we ran into

Overview:

We are building our mobile application in a React Native environment, because we believe the future of Web 3 needs to be on mobile where the majority of consumers already are. We wanted to integrate the Coinbase smart wallet in our system, but currently the Coinbase smart wallet isn't functional for mobile development, so we won't be building that functionality into our application until that is working.

Ethereum's Layer 1 fees are too high for individual payment processing, so we needed to migrate to BASE to ensure the transaction fees would be low enough to allow us to reduce transaction fees for our users.

The consumer would need to load their card with both USDC and ETH/BASE to authorize transactions. So we needed to add Coinbase paymaster so we would be able to pay for the gas fees for our users.

The Coinbase paymaster was a bit difficult to integrate, because we are doing ERC-20 transactions on Base and there isn't clear documentation for how ERC-20s operate with the paymaster.