Project title: XALISS
XALISS is a peer-to-peer SMS payment system built specifically for unbanked consumers in the 8 countries of WAEMU (West African Economic and Monetary Union) using the same currency (West African Franc = XOFT).
Mali, Senegal, Ivory Coast, Niger, Burkina Faso, Benin, Togo, Guinea Bissau.
Application, tool, Infrastructure
• To bring forward real life adoption of the Blockchain technology in order to improve the day-to-day operations
• To Provide access to more affordable and convenient financial products that would empower business actors
and position them to grow their businesses.
• To democratize digital payment and eCommerce in Africa
• To smoothen the transition between traditional payment system and the high-tech payment landscape in Africa
• Complete Beta testing at large scale by April 2020
• Complete the integration of our eCommerce payment solution by June 2020
• Pre-launch marketing campaign from June 2020 to July 2020
• Startup launch of our SMS payment platform in Bamako, Mali by July 2020
• Increase Deposit/Withdraw network to 300 location by August 2020
What is XALISS?
As of today, 350 million African adults or 69% of the adult’s population are registered as unbanked. Due to low literacy and low internet penetration, many high-tech financial products have failed to achieve the goal of a more connected financial system in Africa. XALISS is a peer-to-peer SMS payment platform built specifically to allow individuals without access to basic financial products to easily make digital payments. Thus, smoothing the transition between the traditional payment system and the high-tech payment landscape. XALISS features the following
• Cross-border payments
• E-commerce payment solution
• Bill payments
• Uses of Stellar smart contract for Credit Rating service that facilitate lending and borrowing in the B2B
• Remittance service to America, Europe and Asia
• Decentralized exchange allowing easy connection between FIAT and cryptocurrencies.
How does XALISS work?
Using XALISS is as easy as sending a text message to your best friend.
1. To create your account, Send Balance to XALISS number (+14503001387)
a. Your account will be automatically created and linked to your phone number and a unique ID number will be generated. During the testing periods, every newly created account will receive 50 XOFT (West Africa Franc) as bonus.
2. To send funds to another user, send a message to XALISS number using the following syntax
a. Enter “send” followed by the phone number. Then Enter the amount.
"Send +22399999999 1000 Test"
b. Make sure to include the area code number with a plus sign at the beginning
c. You have the possibility to add a note after entering the amount or not
d. MAKE SURE NOT LEAVE ANY BLANK SPACE IN THE NOTE
3. After sending the text, you will receive a message asking to confirm the transaction by entering "Y" or "Yes"
4. Enter "Y" or "Yes" and send the message
5. Once that is done, you will receive a confirmation message ("Success" or "Your transaction has been successfully completed"
6. To confirm your account balance, send "Balance" to XALISS number
How does XALISS offer value to the consumers?
XALISS is looking to position itself as a micro-payment solution and educate the population about the use of payment solutions. As such, every account will be cap at $200 USD. Effectively transitioning to a digital payment ecosystem requires time and trust, as such we are looking to build a deposit/Withdraw network composed of our reputable partner bank "CID-Amanah Finance" and our independent merchants/actors. This network would allow consumers to convert their hard currency into digital currency or vice versa whenever they want. As of now, our network is composed of 20 deposit/withdraw locations and it's rapidly increasing.
Furthermore, we are negotiating with potential partners in order to reduce transaction cost to only 0.003 USD and we are also working on the integration of our payment solution with ecommerce platforms. This would allow users in many African countries to enjoy ecommerce for the first time. A digital payment ecosystem will lay down the foundation for the use of credit score rating in order to facilitate lending and borrowing and create a more liquid debt market.
Why is our project valuable for Stellar?
We believe that our mission and goals intrinsically align with Stellar core mission to make financial products more accessible to secluded individuals all around the world. XALISS will act as a transitory bridge that will stimulate blockchain awareness and adoption within a continent that is home to more than 300 million individuals. Furthermore, our product is built on the stellar Network. The project supports windows, chrome and Brave browser. We are also available through SMS SSD and an android and IOS version of the application is coming soon.
Instructions to use XALISS SMS payment platform (For testing)
- Send “Balance” to this number “+1450-300-1387” for your account to be created and credited with 100 XOFT.
- Then, follow the above instructions to make transactions.
CID-Amanah Bank: http://cid-mali.com
Tags: #Payment #Remittance #DEX