Round 11
Winner
Wirecash

Wirecash offers virtual currency payments to suit all your needs, whether you're a small or large company, or an individual.

Budget request:  
$100,000
*
WebsiteCode

Project Stage

Introduction

Category

Cross-Border Payments

Based in

Europe

Team size

3

Active since

2022
Products & Services

Online payments

Accepting online payments might be difficult and expensive with traditional methods. With Wirecash, anyone can easily accept crypto payments on their website or mobile app through our APIs and tools. You create an order and our Checkout handles everything for you. It enables accepting 20+ cryptocurrencies on different networks, including Stellar for every one of them.


In-person payments

If you have a physical store and want to accept cryptocurrency payments, but don’t have any experience with APIs or crypto; you can directly request a payment on our dashboard and your customer can access the checkout link via QR code or link.


Invoices

You can create an invoice to notify your customer about a pending payment. After entering the recipient's details, amount, and due date, the recipient gets an email with a link to the checkout page.


Merchant Tools

We’re offering a bunch of tools for merchants. A merchant can decide which currency to accept, which one to convert to a stablecoin when it is received, and can also enable auto-approval if the paid amount is lower than a specified percentage threshold and customize checkout with their own brand colors and more.


Real-time exchange

When auto-conversion is enabled, we will automatically convert your received crypto payment to a stablecoin in real-time, which can eliminate any price fluctuations that may happen in the market. For Stellar payments, we’re using Stellar DEX, and it enables us to access XLM-USDC liquidity in real time.


Bridging Assets through SEP6

By becoming an anchor,  we are bringing our payment methods to the Stellar network. That means you can deposit BUSD on Binance Smart Chain and receive it on Stellar through Wirecash platform or SEP and vice versa.


CashID

We created it for receiving payments like an email. Currently it is only valid on Wirecash platform. Thanks to Stellar federation protocol, we will enable receiving payments through CashID such as yourname*w.cash on the Stellar network too.

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Previous Project(s)
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Progress so far
Goals
  1. Hiring people for compliance with local regulations
  2. Reaching 100+ active merchants
  3. Releasing mobile application
To get there, we  will use our requested budget of  
$100,000
*
  to:
  • To provide all of our services we need to become fully compliant and registered virtual asset service provider with the regulator
  • Hiring people for complying regulations that are required for our business operations
Overview

Revenue Model

Our revenue is based on 2 operations on Wirecash:

  1. Processing fee: We’re charging 1% fee per processed checkout payment operation
  2. FX fee:  We’re earning a fee from auto-conversion (crypto to stablecoin) exchange operations


Market & Industry Research

Targets:

  • Online businesses who want to reach new customers by accepting alternative payment methods
  • Physical stores that are looking for alternative payment methods to get paid
  • Individuals who want to get paid online


Threats and opportunities:

The biggest opportunity is we are still in an early stage in crypto payments and it gives us a opportunity to build payment platform of the future.


Complying with local regulators and upcoming regulations on virtual asset service providers and crypto are threats for us.


Competition

Our main competitors are traditional and crypto payment processors. We’re doing a few things better:

  • Providing multiple networks per cryptocurrency to get paid
  • Merchant tools for tracking, managing and customizing payments and payment experiences
  • Combining both individual and business features into one account
  • No setups fees or monthly fees


Sales & Marketing

We aim to reach both online and offline businesses by analyzing them and letting them know how can they increase their sales with alternative payment methods by one-to-one meetings.


For individuals who are selling products and services online, we are planning to reach them through social media such as Instagram by ads and let them know they can get paid through Wirecash easily.

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Links:

https://developer.wirecash.com

Wirecash

We are a payment processing platform that enables accepting crypto payments for both individuals and businesses. We are a team of three people and we are based in Europe.

Team

Sevcan Avci (sevcan #2612)

Co-founder, Computer Engineer

https://www.linkedin.com/in/s3vcan/


Mert Gonul (row#7500)

Co-founder, Computer Engineer

https://www.linkedin.com/in/m3rt/


Necip Akay (necipfazilakay#6942)

Mobile Developer, Computer Engineer

https://www.linkedin.com/in/necpfzlakay/