Walletic

WALLETIC is an Electronic Money Institution (EMI), The EMIs in Pakistan are expected to offer interoperable and secure digital payment products and services to end users. WALLETIC is a digital wallet which targets the local merchants and SMES to provide hassle free payment solutions and also provide

Project Title

Walletic

Project Area of Specialization

Shared Economy

Project Summary

WALLETIC is an Electronic Money Institution (EMI), The EMIs in Pakistan are expected to offer interoperable and secure digital payment products and services to end users. WALLETIC is a digital wallet which targets the local merchants and SMES to provide hassle free payment solutions and also provides businesses to create logs of their transactions to do bookkeeping in a smooth and organized manner. Being a financial institution we would also attract investor through proper channel to provide funding to eligible individuals and groups. Payments have seen a global surge in interest during the pandemic. This has been due to widespread lockdowns and the resultant reliance on e-commerce, practices of social distancing, usage of contactless payment mechanisms, and the aversion to using cash.

Empower the street vendors to adopt the digital revolution. Enlarge adoption of digital payments domestically. Provide SMES full scale payment solution.

Project Objectives

Empower the street vendors to adopt the digital revolution. Enlarge adoption of digital payments domestically. Provide SMES full scale payment solution.

Currently there is a gap in the online payments among the several stakeholders in a form of Restaurants, Ecommerce websites, Street vendors, Food delivery chains i.e. (Food panda, Airlift) and Ride hailing services. Almost No application for the instant payment of cash on delivery at your door step in form QR codes which eliminates the problems like fraud in deliveries because customers now have proofs that they have paid the money to business and also the headache of monetary changes which also facilitates the riders for quick deliveries because of the hassle free deliveries.

Project Implementation Method

The WALLETIC payment app will allow access to authorized users i.e. consumer, business, and might be rider. The access will be granted to all the users based on their roles and will have their own interfaces rendered to interact with.

? Phone verification via one time password (OTP)

? Register user once the phone number is verified

? Registered consumer user can do P2P transfers

? Registered consumer and business user can withdraw amount from the wallet to bank account.

? Registered user can pay via QR code scan.

? Register Business can share QR code to their riders on Whatsapp

Benefits of the Project

Empower the street vendors to adopt the digital revolution. Enlarge adoption of digital payments domestically.

Let retailers and wholesalers make supply chain payments alongside the bookkeeping.

Currently there is a gap in the online payments among the several stakeholders in a form of Restaurants, Ecommerce websites, Street vendors, Food delivery chains i.e. (Food panda, Airlift) and Ride hailing services. Almost No application for the instant payment of cash on delivery at your door step in form QR codes which eliminates the problems like fraud in deliveries because customers now have proofs that they have paid the money to business and also the headache of monetary changes which also facilitates the riders for quick deliveries because of the hassle free deliveries

Technical Details of Final Deliverable

The WALLETIC payment app will allow access to authorized users i.e. consumer, business, and might be rider. The access will be granted to all the users based on their roles and will have their own interfaces rendered to interact with.

? Phone verification via one time password (OTP)

? Register user once the phone number is verified

? Registered consumer user can do P2P transfers

? Registered consumer and business user can withdraw amount from the wallet to bank account.

? Registered user can pay via QR code scan.

? Register Business can share QR code to their riders on Whatsapp

Operating Environment

1) Mobile Application The WALLETIC Android Mobile Application APK will be deployed on Google Play store.

2) Backend API’s Software Requirements Specification for Walletic Page

3 The WALLETIC APIS will be deployed on the backend servers till now they are on HEROKU servers which is platform as a service.

 Database Server

May be MySQL server in future till now on MONDODB atlas cloud cluster instance of MONDODB but may change to MySQL server due to extensive use of Transactions

Assumptions and Dependencies

Business’s will generate QR CODES based on the orders they receive for that we require an separate piece of software that can be integrated with the business systems but for this project we will make separate table in a database of orders just to generate QRCODES then business can assign those QR code to their riders.

TECHNOLOGIES:

1.REACT NATIVE

2.NODE JS

3.EXPRESS JS

4.MONGO DB

5.MONGODB ATLAS

6.FIREBASE

7.REDUX

8.REACT

9.GOLANG(Tentative)

10.SQL

Final Deliverable of the Project

Software System

Core Industry

Finance

Other Industries

Others

Core Technology

Shared Economy

Other Technologies

Sustainable Development Goals

Decent Work and Economic Growth

Required Resources

If you need this project, please contact me on contact@adikhanofficial.com