The problem ZepPay solves

Cross-border payments for essential goods and services are a multi-billion dollar market ($ 80 B+).

In regions like LATAM and Caribbean in some countries remittance can account for > 25% of GDP of the entire region and majority of this funds are used for essential goods and services.

These are people in NorthAmerica (USA, Canada) sending money back home to their family and loved ones back home.

On the sponsor side - Traditionally this particular flow has been plagued by high transaction fees (8-10% in the regional average), time to settle (1-3 days), lack of transparency since cash is the only convenient way to spend this money.

On the Business side - Small/Medium Size business which are a back-bone of any thriving economy are failing to capture this remittance share because of a lack of POS systems (Visa, Mastercard).

What problems we are solving?

No more waiting for banking hours to send money from USA to such regions. 24/7 fast payments. Instant.

Sponsors have complete transparency about what category of spend to authorise spend in. (Food, Education, Rent, Energy etc). Beneficiaries cannot spend money sponsored for education to buy food. Transparent.

Merchants without POS systems in developing/underbanked economies can capture share of this huge remittance markets.

While managing to do this we have abstracted the interaction of blockchain as much as possible to give it a web2 native application UX while managing to get sponsors in North America and merchants in developing economies on-chain and fixing a key user flow for users in North America.

Challenges we ran into

We initially thought about a smart contract based architecture to solve this problem but ended up realising the UX would be impacted. That is when we pivoted to using CPD backend wallets and significantly improved UX for our target non-blockchain native users.

Additionally we ran into trouble testing out SMS OTP's which is when we decided to use Telegram app for beneficiary interactions.

PLEASE DO CHECK THE CONSOLE LOG IF THE OTP ON TELEGRAM WONT WORK!