Payment Application Using Crypto Currencies

Abstract

In the rapidly evolving world of digital finance,
there remains a growing need to bridge the gap
between decentralized crypto assets and traditional
fiat currency systems. RupXpay is a robust and
secure payment application designed to meet this
demand by enabling users to convert their crypto
currency into Indian Rupees (INR) and also
perform direct INR transfers through their bank
accounts. The app begins by allowing users to
connect any Web3 wallet of their choice (such as
Meta Mask, Trust Wallet, etc.). Upon successful
connection, RupXpay displays the user’s real-time
wallet balance, providing full visibility and
transparency. When a user wants to convert their
crypto holdings into INR, they simply enter the
desired amount, select the block chain network,
choose the crypto currency, and the preferred
payment method. To initiate the transaction, the
user must provide a digital wallet signature, which
not only authorizes the transaction but also
triggers a temporary wallet lock for five minutes.
This lock mechanism ensures the transaction data
remains secure and unaltered during the
verification process, significantly reducing the risk
of fraud. The system calculates applicable gas fees
based on the selected network and applies a fixed
1% fee for network processing and a 2% service fee
charged by RupXpay for conversion services. Once
verified, the INR amount is credited to the user’s
linked bank account. In addition to crypto-based
conversions, RupXpay supports traditional bankto-
bank INR transfers. By linking their bank
account within the app, users can send money
directly to other users without involving crypto
currency, making RupXpay a complete, dual-mode
payment solution. By combining
block chain technology with traditional financial
infrastructure, RupXpay provides users with a
reliable, efficient, and secure platform to make
crypto spendable in everyday life. It is a futureready
financial tool that redefines how digital
assets are used in the real economy.