Uchi Uchibeke for Chimoney

Posted on Jan 6

Integrate Interledger to Chimoney Wallets: Prototype — ILF Grant Progress Report

#progressreport #grantreports

Brief Project Description

Building upon our previous integration of the Interledger Protocol (ILP) into Chimoney's ecosystem, this project aimed to enhance and expand our Interledger capabilities. Our objectives included:

Updating our Interledger stack to the new Rafiki version and deploying it in production.
Launching payment pointers for consumers via the Chimoney Mobile App for Consumers, enabling individuals, not just Businesses, to fund their Interleder-enabled Wallets from Bank Accounts, cards and Interac.
Supporting Interledger payments on Chimoney's checkout screen.
Compliance Audit

With this Project, we sought to provide seamless, secure, and compliant financial services to a broader audience, promoting financial inclusion and interoperability. For details on our prior progress, refer to our previous grant report.

Project Update

We have successfully achieved the following milestones:

Updated Chimoney's Interledger Stack to the New Rafiki: Migrated our infrastructure to the latest Rafiki version, enhancing performance and security.
Prototype Interledger Production Deployment with New Rafiki: Deployed the updated stack into our production environment, ensuring stability and scalability.
Launched Payment Pointers for Individuals via the Chimoney App: Enabled users to create and manage their own payment pointers directly within the app, facilitating easier transactions and unlocking opportunities to receive money to the payment pointer, send, and fund the payment pointer.


🎥 Chimoney App with Payment Pointer demo

Support Pay with Interledger on Chimoney's Checkout Screen: Integrated Interledger payment options into our checkout process, offering users the ability to complete e-commerce and other checkout experiences from their Interledger wallet and promoting the adoption of open payment standards.


🎥 Checkout with Interledger Demo

Project Impact & Target Audience(s)

Our efforts have had a significant impact on various communities:

Live Transactions Performed Using Chimoney Payment Pointers: Users have conducted real-time transactions, demonstrating the system's effectiveness.
Support and Partnerships with Other Interledger Companies: Collaborated with organizations such as Fynbos, Snake Nation, and Besspay to implement multicurrency wallets and payment pointers, fostering a broader ecosystem.

Connected Payment Pointers to Mobile Money: Enabled users in countries like Kenya and Ghana to cash out from their Chimoney Interledger wallets to mobile money accounts, enhancing accessibility.

Connected Payment Pointers to Interac in Canada: Allowed Canadian users to fund their Interledger wallets via Interac from bank accounts and withdraw back, bridging traditional banking with digital wallets. Learn more about Interac at Interac vs. Zelle vs. Cash App: Navigating the Canadian Payment Landscape.
Create Payment Pointer API for Businesses: Developed an API that enables businesses to issue payment pointers without deploying Rafiki, simplifying integration and promoting wider adoption. Review the API Doc.

These advancements support the mission of the Interledger Foundation by promoting open payment standards and enhancing financial inclusion, particularly benefiting marginalized groups in underserved regions.

Progress on Objectives, Key Activities

Objective 1: Update and Deploy New Rafiki Stack
- Activity: Successfully migrated and deployed the updated Rafiki stack in our production environment.
Objective 2: Launch Individual Payment Pointers
- Activity: Enabled users to create and manage payment pointers within the Chimoney app, facilitating seamless transactions.
Objective 3: Integrate Interledger Payments into Checkout
- Activity: Implemented Interledger payment options on our checkout screen, providing users with more payment flexibility.


🎥 Checkout with Interledger Demo

Objective 4: Develop Business API for Payment Pointers
- Activity: Created an API that allows businesses to issue payment pointers without the need for deploying Rafiki, streamlining the process for creating Payment Pointers.

Communications and Marketing

We have actively promoted our progress through various channels:

Press Release: Our Press release garnered the attention of reputable press and media across Africa, North America, and beyond with a reach of 250 million, with coverage in Yahoo Finance, Benzinga, Finance Today, and others.

Features in African Publications: Highlighted in several African media outlets, increasing regional awareness.
Blog Posts and Tutorials: Published informative content, including:
Getting Started Guide: Developed a comprehensive guide to assist users in navigating our Interledger services.
Event Participation:
- Participated in the Interledger Hackathon, supporting participants in integrating Interledger.


Interledger Summit	Showcase

Showcased our solutions at the Interledger Summit, including a live demo presentation.


🎥 Watch our Interledger Summit Demo

What’s Next?

We plan to continue our efforts with the following initiatives:

Add One-Click Support for Chimoney Payment Pointers in the Web Monetization Extension: Scheduled to go live in February 2025, enhancing user experience and adoption.
Finalize Compliance Review and Update: Ensure all services meet the latest regulatory standards, maintaining user trust and security.
Peer with Other Interledger Financial Services Companies: Continue collaborations, starting with Fynbos, to expand our network and service offerings.
External Security Audit: Engage a firm to audit our implementation and security practices.
General Availability: Reduce time-to-value and reduce restrictions in Accounts we approve to use the App, to further promote the adoption of Payment Pointers and Interledger.
Interledger Infrastructure as a Service (IiaaS): Based on popular demand, continue the exploration of offering a one-click infrastructure service for deploying the Interledger Stack. This would unlock opportunities for more entities to have branded Payment Pointers and offer Interledger Wallet features to their users.

Community Support

We welcome feedback and support from the community in the following areas:

User Acquisition Strategies: Assistance in developing effective methods to increase adoption of Interledger payment pointers.
Integration Feedback: Insights from other Interledger-integrated services to enhance interoperability and user experience.

Additional Comments

We have encountered challenges in user acquisition, with adoption rates being slower than anticipated, possibly due to limited Web Monetization support. To address this, we plan to launch Web Monetization support in February 2025 and present it at the upcoming community call.

The Interledger Community 🌱