India’s Peso App: Revolutionizing FinTech with Blockchain Integration October 9, 2023 October 9, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 9, 2023 by Kelly Cromley

India’s Peso App: Revolutionizing FinTech with Blockchain Integration

Peso, an innovative web-based application hailing from India, is poised to reshape the landscape of financial technology (FinTech) by seamlessly incorporating blockchain technology into the heart of financial transactions. Founded by Vijay Saran, a seasoned tech entrepreneur, and Utkarshini Arora, a distinguished senior software developer and educator, this groundbreaking app is on a mission to empower users with unprecedented control over their financial dealings.

The Three Pillars of Peso: At its core, Peso stands on three robust pillars, each designed to enhance the user experience and redefine financial management:

  1. Latest Updates: Peso serves as a constant source of information, keeping users informed 24/7 about the latest developments in technology, blockchain, financial markets, and AI.
  2. Blockchain-Enabled Payment Infrastructure: Peso’s payment system, while as user-friendly as UPI (Unified Payments Interface), harnesses the security and transparency of blockchain technology. This unique approach ensures that users have complete control over their financial transactions, free from the limitations imposed by conventional payment systems.
  3. Smart Taxation and AI Tools: Peso goes a step further by offering intelligent taxation solutions and AI-powered tools. These tools are specifically designed to alleviate users’ concerns when it comes to filing returns at the end of the financial year, simplifying an otherwise complex process.

Founders’ Journey: Vijay Saran, who hails from Bangalore, embarked on his entrepreneurial journey at the young age of 14 when the internet was still in its infancy in India. He showcased his technical acumen by launching “N DROID CITY,” an ethical hacking website that not only demonstrated his skills but also generated revenue through strategic web traffic. By 19, Vijay had established a tech-enabled merchandise startup at VIT Vellore, attracting a remarkable INR 2.5 million in funding at a valuation of 60 million. His achievements earned him a coveted spot on Entrepreneur Today’s esteemed “30 Under 30” list. His commitment to continuous learning was evident when he pursued a post-graduate program in Blockchain from IIT Kanpur in 2023.

Utkarshini Arora, also based in Bangalore, contributes her extensive expertise as a senior software developer and educator to the partnership. With a history of collaboration with India’s top unicorn startups like Physicswallah, White Hat Jr. by Byjus, and Relevel by Unacademy, she brings a wealth of knowledge to the table. Utkarshini’s dedication to her craft led her to pursue post-graduation in Blockchain at IIIT Bangalore. Beyond her development skills, she is a prolific content creator with over 1 million views on various social media platforms. Her passion for mentoring has positively impacted over 12,000 students across India, helping them secure job placements and enhancing their coding skills for the creation of high-quality software.

Identifying the Need: The inception of the Peso app arose from a significant challenge faced during their entrepreneurial journey. Existing UPI daily transaction limits hindered their ability to receive payments from clients, leading to financial stress. Regulatory constraints set by the Reserve Bank of India (RBI) made payment giants reluctant to onboard new startups for payment gateway integration. This predicament underscored the hurdles new startups encounter in India’s payment landscape and the lack of control over their funds.

Creating a Solution: Recognizing the pressing need for a solution and armed with profound knowledge of blockchain technology, Vijay and Utkarshini embarked on the creation of an app that simplifies money management while harnessing the power of blockchain. They aptly named their creation “Peso,” symbolizing the simplicity of handling money.

The Journey Continues: Currently available on Google Play and the App Store, Peso App has successfully integrated its first pillar. Its launch catapulted the app to the top of the charts, solidifying its status as a game-changer in the financial technology sector. Vijay Saran, Utkarshini Arora, and their dedicated development team are diligently working on integrating the second pillar, which will involve leveraging the Bitcoin Lightning Network Infrastructure to facilitate lightning-fast and cost-effective global payments. This milestone will mark Peso App as India’s first layer 2 blockchain payments solution.

Empowering Financial Freedom: With Peso App, entrepreneurs, business owners, and freelancers gain the ability to conduct business worldwide without restrictions, all while maintaining complete control over their finances. Vijay Saran and Utkarshini Arora have embarked on a journey that promises to redefine the way money is perceived and managed in the digital age, attracting attention and anticipation from around the world.

Access the Peso App:

Conclusion: The Peso app represents a remarkable convergence of financial technology and blockchain innovation, offering users a new paradigm for managing their financial affairs. With a commitment to transparency, security, and user empowerment, Peso is set to make a significant impact in India’s dynamic and ever-evolving FinTech landscape, as well as inspire a new generation of entrepreneurs to embrace blockchain solutions for financial freedom.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.