Bangalore is known as the bustling tech hub where innovation meets aspiration, and two remarkable individuals have carved their path to success. Vijay Saran and Utkarshini Arora, both hailing from the heart of India’s tech revolution, have not only achieved personal milestones but have also come together to create something truly revolutionary: the Peso App.
Peso App was born out of the duo’s experience and the challenges they faced when they ventured into the world of tech and marketing consultancy. One of the major roadblocks they encountered was the cumbersome process of receiving payments. The daily transaction limit imposed by UPI proved to be a significant hindrance.
Determined to find a solution, Vijay and Utkarshini explored various payment gateway options like Razorpay, Instamojo, Paytm, Payu, Stripe, and Paypal. However, due to stringent RBI regulations, most of these giants were unwilling to onboard new startups for payment gateway integration.
The turning point came when one major payment gateway allowed them to integrate their services. Yet, the joy was short-lived as they encountered a nightmare scenario: a client’s payment was held in reserve for four months, and neither they nor the client could access the funds. This ordeal exposed the vulnerability of startups dealing with the complexities of India’s financial system.
It was this very moment that ignited the spark of innovation in Vijay and Utkarshini. They saw a glaring gap in the financial system that blockchain technology could bridge. As blockchain developers themselves, they embarked on a mission to develop an app that would simplify money management for individuals and businesses alike.
The Peso App was conceptualized as a blockchain-powered solution that would offer users complete control over their funds, eliminating the need for third-party payment processors. Its three pillars include:
Real-time Updates: Users can stay informed 24/7 about the latest developments in technology, blockchain, financial markets, and AI.
Blockchain-Enabled Payments: Peso App offers a seamless payment infrastructure akin to UPI, simplifying financial transactions.
Smart Taxation and AI Tools: Users can navigate the complexities of taxation with ease, ensuring a hassle-free experience when filing returns.
As of now, the Peso App has successfully integrated its first pillar and is live on both Google Play and the App Store. On the day of its launch, it soared to the top of the charts, securing a prominent position among the top 50 apps.
The development team is currently working on integrating the second pillar, leveraging the Bitcoin Lightning Network Infrastructure. This integration will enable lightning-fast and cost-effective payments, marking a significant milestone as India’s first layer 2 blockchain payments app. Entrepreneurs, business owners, and freelancers will soon have the power to conduct global business with unprecedented control over their finances.
Vijay Saran and Utkarshini Arora have not only achieved individual success but have also embarked on a shared journey to empower others. The Peso App stands as a testament to their vision, determination, and unwavering commitment to simplifying money management for everyone. As the app continues to evolve and grow, it promises to reshape the future of finance in India and beyond.
The Peso app is currently available on:
Apple IOS: https://apps.apple.com/in/app/peso/id6449457716
Google Play Store: https://play.google.com/store/apps/details?id=com.pesoit
