Title: Lettuce: Stellar-based point of sale (POS) Application
New Point of Sale application for merchants. We help businesses avoid merchant services fees and settle payments in their local currency. Businesses can accept any Stellar asset without fear of tax implications or currency volatility. We provide financial inclusion opportunities for micro, small, and medium size enterprises.
- Create an MVP that allows merchants to accept all Stellar-based assets and settle in USD.
- Create a dynamic map that promotes vendors accepting Stellar-based assets.
- Recruit 25+ vendors in New York City to accept in-person virtual currency payments using Lettuce.
- Expand to additional markets and promote the use of XLM for retail spending.
Lettuce connects vendors with millions of consumer Stellar-based wallets through a point of sale (POS) web application. We enable merchants to accept any Stellar-based virtual currency and settle in USD. Vendors can interact with our application from any mobile or desktop web browser. Long term, our main value proposition is the elimination of VISA/Mastercard and other merchant services fees. In the short term, we will introduce merchants to new customers from the cryptocurrency community. This will pave the way for the Stellar community to spend their XLM and more vendors to accept XLM.
We value feedback-based Agile Design, Equality, and Financial Inclusion. Our vision is to create the best free point of sale system the world has ever seen and our mission is to help small businesses stay competitive.
Our little project started in May as a PublicNode meetup discussion between Ari and Brian about how small businesses could use Stellar to avoid merchant services fees. Armed with confidence and some coffee they created a proof-of-concept using Keybase Chatbots. The duo earned 2nd place among Stellar projects at the NYC Blockchain Week Hackathon. Roman, another PublicNode member, joined them and immediately started recruiting merchants. Roman also recruited additional team members Mike, Russ, and Edgar. Lastly, we owe a special thank you for the work of designer and illustrator One Wang: https://monologueone.myportfolio.com.
Only a few short weeks after the team was fully formed, a functioning MVP was completed! Throughout the summer, we will receive feedback from merchants and upgrade our product. You will be able to see the changes in real time. Our priority is and always will be vendors. We support small businesses and will provide incentives to the Stellar community for shopping at our network of merchants. Our project will not only add value to the Stellar network, but increase the usefulness of consumer Stellar wallets such as Lobstr, Keybase, and Litemint.
Here’s how our MVP Works
- Vendor generates a QR code for a bill.
- Customer scans the QR code with their SEP-7 enabled mobile Stellar-based wallet & pays.
- USD tokens are sent to the vendor’s AnchorUSD custodial wallet via Stellar Path Payments.
- Vendor withdraw USD tokens to their traditional bank account without leaving our app.
***Vendor needs to create an AnchorUSD account in advance. However, they do not need their own non custodial wallet (for our MVP).
Our Design Principles
- Be Simple: We do not want to overwhelm the user.
- Be Clean: When adding anything always ask why it's needed.
- Be Easy: Smooth nagivation is a top priority.
Merchants, Spend, SEP-007, QR, XLM, USD, Anchors