Wyzepay

: The payments platform for forward thinkers

Industry

Financial Technology

About Wyzepay

Consumer payments solution

Wyzepay logo

The Challenge

WyzePay delivers a new market infrastructure that is built on future-proof distributed ledger technology. It combines blockchain technology with a lightning network layer to allow for instant payment. By using smart contract functionality within the blockchain, WyzePay is able to execute instant payments across a network of participants. The security is enforced by blockchain smart contracts without creating an on-chain transaction for every single payment.

Companies issue their own corporate currency with a unique range of features, called WyzeCoins. Then customers choose the combination of features that gives them the best benefits for their money, based on lifestyle and spending habits. The consumer will then have a frictionless experience paying with their WyzeCoins, as easily as with a card, and the WyzeCoins are fully transferable and never expire.

Results

We’ve implemented the ability to offer this solution to consumers, and the integration of the adapted analytics to support it. Also the integration with the Stripe payment processor to facilitate the token purchase flow, including paying out to the merchant. We also implemented a dynamic friends list where a user can see selected friends. Integration with an accounting platform to account for tokens and payments using tokens was also part of the solution. Everything with the aim of moving the WyzePay project to MVP and using a Gym as the first customer.