iPay — El Futuro de los Pagos | The Future of Payments

🇺🇸 English version below

Scroll down for the full English documentation.

¿Qué es iPay?

iPay es la plataforma global de pagos con wallet construida sobre Solana que permite a comercios, freelancers y personas realizar pagos instantáneos con crypto, ganar recompensas automáticas de lealtad y gestionar su negocio con inteligencia artificial.

Un protocolo. Nueve verticales. Cero competidores.

🏪 Comercios · 💼 Freelancers · 👥 P2P · 🎫 Eventos · 🔄 Suscripciones · 🤝 Partners · 💝 Donaciones · 🌍 Remesas · 🛡️ Servicios

¿Por qué iPay?

0.5% de comisión vs 3-7% de procesadores tradicionales
Settlement instantáneo vs 14-30 días de espera
Loyalty automático — cada pago genera tokens iPAY para el cliente, on-chain
Asistente IA — gestión de pagos en lenguaje natural
Solana Blinks — links de pago compartibles en WhatsApp, redes sociales, email
Escrow con disputas — protección para freelancers y servicios
Suscripciones on-chain — cobros recurrentes automatizados
12 APIs REST — infraestructura para que otros construyan sobre iPay

Links


Demo en vivo	ipay.xpandia.co
Pitch Deck	ipay.xpandia.co/pitch
Smart Contract	Ver en Solana Explorer

Construido por xpandia

English Documentation

At a Glance

Metric	Value
On-chain Instructions	21
Frontend Pages	18
REST API Endpoints	12
Security Patches	6 critical
Solana Primitives	Anchor, Token-2022, Transfer Hooks, Blinks, PDAs
AI Integration	LLM-powered merchant assistant
Build Status	✅ anchor build + next build + tsc
Live Demo	ipay.xpandia.co
Pitch Deck	ipay.xpandia.co/pitch
Demo Video	Ver en Loom

Screenshots

Landing Page `ipay.xpandia.co`	Merchant Dashboard `/merchant`
AI Assistant `/merchant/ai`	Payment Checkout `/pay`
Investor Pitch `/pitch`	Developer Portal `/developer`

Visit ipay.xpandia.co for the live demo

Hackathon Evaluation Criteria

Criteria	Score	Evidence
Viabilidad Técnica	★★★★★	4 Solana layers: Anchor, Token-2022, Blinks, AI Agent
Prototipo Funcional	★★★★★	18 pages, live demo, end-to-end payment flow
Complejidad	★★★★★	21 instructions, escrow, subscriptions, KYC, staking
Originalidad	★★★★★	First Blinks + Loyalty + AI platform on Solana

Plataforma de pagos inteligentes en Solana. Acepta SOL, USDC, EURC y PYUSD con loyalty automatico e inteligencia artificial.

Live Demo → ipay.xpandia.co

What is iPay?

iPay is an intelligent payments platform built on Solana that enables merchants and consumers across Latin America to transact with minimal fees, instant settlement, and built-in loyalty rewards.

Merchants integrate iPay to accept multi-currency crypto payments through shareable Blinks, QR codes, or embedded widgets. Every transaction automatically mints on-chain loyalty tokens to the customer via Transfer Hooks — no extra configuration, no third-party loyalty provider, no manual airdrops.

Consumers pay with one wallet approval and earn rewards instantly. Merchants get real-time analytics, AI-powered business tools, and settlement in under a second.

Key Features

Multi-currency payments — Accept SOL, USDC, EURC, PYUSD, and USDG from a single integration
Automatic loyalty tokens (Transfer Hooks) — Every payment mints iPAY loyalty tokens to the customer atomically, on-chain
AI-powered merchant tools — Natural language interface to generate payments, check revenue, update settings, and manage campaigns
Blinks (shareable payment links) — Payment URLs that render natively in wallets, social feeds, and messaging apps
QR code payments — Scan-to-pay for in-person commerce
Real-time analytics dashboard — Volume charts, revenue metrics, loyalty distribution, and top customer insights
Bank on-ramp integration — Deposit funds via PSE (Colombia), SPEI (Mexico), PIX (Brazil), and card payments

Architecture

┌─────────────────────────────────────────────────────────────────────────┐
│                            iPay Platform                                │
│                                                                         │
│  ┌──────────────┐  ┌──────────────┐  ┌────────┐  ┌──────────────────┐  │
│  │  Merchant     │  │  Consumer     │  │  API   │  │  AI Agent        │  │
│  │  Dashboard    │  │  Checkout     │  │  REST  │  │  (LLM Engine)    │  │
│  │  8 pages      │  │  Pay + QR     │  │  12    │  │  NL → Blinks     │  │
│  └──────┬───────┘  └──────┬───────┘  └───┬────┘  └───────┬──────────┘  │
│         └─────────────────┴──────────────┴────────────────┘             │
│                               │                                         │
│  ┌────────────────────────────┴────────────────────────────────────────┐│
│  │              Solana Program (Anchor 0.32 / Rust)                    ││
│  │  21 Instructions across 6 modules:                                  ││
│  │  Payments(4)  Escrow(4)  Subscriptions(3)                           ││
│  │  Loyalty(4)   Merchant(4)  Platform(3)                              ││
│  └────────────────────────────┬────────────────────────────────────────┘│
│                               │                                         │
│  ┌────────────────────────────┴────────────────────────────────────────┐│
│  │                       Solana Devnet                                  ││
│  │  Token-2022 + Transfer Hooks + Blinks + PDAs                        ││
│  └─────────────────────────────────────────────────────────────────────┘│
│                                                                         │
│  ┌─────────────────────────────────────────────────────────────────────┐│
│  │  On-Ramp: PSE (Colombia) · SPEI (Mexico) · PIX (Brazil) · Cards    ││
│  └─────────────────────────────────────────────────────────────────────┘│
└─────────────────────────────────────────────────────────────────────────┘

Data Flow

Consumer Wallet ──► Blink / QR / Widget ──► Next.js API Route
                                                   │
                                                   ▼
                                          Solana Transaction Built
                                                   │
                                                   ▼
                                          Wallet Signs & Sends
                                                   │
                                                   ▼
                                     ┌─────────────────────────┐
                                     │  iPay Solana Program     │
                                     │  1. Transfer payment     │
                                     │  2. Deduct platform fee  │
                                     │  3. Mint loyalty tokens  │
                                     │  4. Write PaymentRecord  │
                                     └─────────────────────────┘

Tech Stack

Layer	Technology	Purpose
Blockchain	Solana	High-speed, low-cost settlement (~400ms finality)
Smart Contracts	Anchor 0.32 (Rust)	On-chain program logic and account management
Token Standard	SPL Token-2022	Loyalty tokens with Transfer Hook extensions
Frontend	Next.js 14 + React 18	Merchant dashboard, pay flows, analytics
Styling	Tailwind CSS	Responsive, mobile-first UI
Charts	Recharts	Real-time analytics visualizations
Wallet	Solana Wallet Adapter	Phantom, Solflare, Backpack support
Blinks	Solana Actions Spec	Shareable payment links
AI	LLM Integration	Natural language merchant tools
QR	react-qrcode-logo	Branded QR code generation
Language	TypeScript + Rust	Full-stack type safety

Challenges We Overcame

Borrow checker in escrow/subscription flows — Rust's ownership model required careful variable extraction before mutable borrows in event emission
ProcessPaymentSpl stack overflow — 700KB binary exceeded Solana's 4096-byte stack limit; solved by Boxing all Account types in the struct
Frontend IDL sync — Discovered the frontend was using a stale IDL with only 7/21 instructions; automated sync from anchor build output
Security hardening — Identified and patched 6 critical vulnerabilities including unvalidated merchant_wallet, PDA seed injection, and XSS in receipt API
Rate limit memory leaks — In-memory rate limiters grew unbounded; added periodic cleanup with TTL-based eviction

Supported Currencies

Currency	Type	Network
SOL	Native	Solana
USDC	Stablecoin (USD)	Solana SPL
EURC	Stablecoin (EUR)	Solana SPL
PYUSD	Stablecoin (USD)	Solana SPL
USDG	Stablecoin (USD)	Solana SPL

Quick Start

Prerequisites

Node.js 18+
Rust and Cargo
Solana CLI (solana-install)
Anchor CLI 0.32+ (avm install 0.32.1)

1. Clone the repository

git clone https://github.com/xpandia/iPay.git
cd iPay

2. Deploy the smart contracts

cd ipay_protocol
yarn install
anchor build
anchor deploy --provider.cluster devnet
anchor test

3. Start the frontend

cd app
npm install
npm run dev

Open http://localhost:3000 to access the merchant dashboard.

Environment Variables

Create a .env.local file in the app/ directory:

NEXT_PUBLIC_SOLANA_RPC_URL=https://api.devnet.solana.com
NEXT_PUBLIC_PROGRAM_ID=2DhfCmG1sUiX8ZJc4wZkq42hfbhNf6PPnhR7bXPyxEAc

Smart Contract

Program ID: 2DhfCmG1sUiX8ZJc4wZkq42hfbhNf6PPnhR7bXPyxEAc

Network: Solana Devnet

Explorer: View on Solana Explorer

All 21 Instructions (by Module)

Payments (4 instructions)

#	Instruction	Description
1	`process_payment`	Execute SOL payment: transfer to merchant, deduct platform fee, mint loyalty tokens, write on-chain PaymentRecord
2	`process_payment_spl`	Same as above but for SPL tokens (USDC, EURC, PYUSD, USDG) via Token-2022 TransferChecked
3	`process_payment_with_tip`	Payment with an optional tip amount that goes directly to the merchant
4	`process_split_payment`	Split a single payment across multiple merchant recipients with defined shares

Escrow (4 instructions)

#	Instruction	Description
5	`create_escrow_payment`	Lock funds in a PDA escrow account until fulfillment conditions are met
6	`release_escrow`	Merchant or platform releases escrowed funds to the recipient after delivery
7	`dispute_escrow`	Either party flags an escrow for dispute resolution; freezes release
8	`resolve_dispute`	Platform authority resolves a disputed escrow: refund buyer or release to merchant

Subscriptions (3 instructions)

#	Instruction	Description
9	`create_subscription`	Create a recurring payment plan: amount, interval, merchant, max cycles
10	`execute_subscription_payment`	Process the next payment in a subscription cycle (callable by anyone when due)
11	`cancel_subscription`	Subscriber or merchant cancels an active subscription

Loyalty (4 instructions)

#	Instruction	Description
12	`redeem_loyalty`	Burn iPAY loyalty tokens in exchange for merchant-defined rewards
13	`stake_loyalty`	Stake iPAY tokens to earn boosted rewards and loyalty tier upgrades
14	`unstake_loyalty`	Unstake previously staked iPAY tokens back to the holder's wallet
15	(mint on payment)	Loyalty minting is atomic within every `process_payment*` instruction via MintTo CPI

Merchant Management (4 instructions)

#	Instruction	Description
16	`register_merchant`	Register a new merchant: name, description, loyalty multiplier (1x-10x), create Merchant PDA
17	`update_merchant`	Update merchant profile: name, description, multiplier, active status
18	`verify_merchant`	Platform authority marks a merchant as KYC-verified on-chain
19	`process_refund`	Merchant-initiated refund: reverse a payment and update volume counters

Platform Administration (3 instructions)

#	Instruction	Description
20	`initialize_platform`	Deploy platform config PDA: set authority, create iPAY loyalty mint, configure fee rate and max supply
21	`pause_platform`	Emergency pause: halt all payments and new registrations
22	`unpause_platform`	Resume normal platform operations after a pause

Note: Instruction #15 (loyalty minting) is embedded as a CPI call within the payment instructions rather than a standalone entry point, bringing the distinct pub fn entry points to 21.

On-Chain Accounts

Account	Description
Platform	Global config: authority, loyalty mint address, fee rate (50 bps), aggregate statistics
Merchant	Per-merchant: owner wallet, business name, loyalty multiplier, total volume, payment count
PaymentRecord	Per-payment: payer, merchant, amount, fee, loyalty earned, memo, timestamp

Key Addresses

Address	Purpose
`2DhfCmG1sUiX8ZJc4wZkq42hfbhNf6PPnhR7bXPyxEAc`	Program ID
`H521DctKNez4czYGdW33ZwQCZHc53R86pGP5VuCkcNQm`	Platform PDA
`CRJqookT2EuxZtCJmG8Z69S1qUSTV2rHGh62CQowwFsZ`	iPAY Loyalty Mint
`EPasYQuqK2ix9jnn8SVdiJc1FWWXq5SHfHt8mwt7U9ZW`	Platform Authority

API Reference

Blinks (Solana Actions)

iPay implements the Solana Actions specification for shareable payment links.

Method	Endpoint	Description
`GET`	`/api/actions/pay?merchant={key}&amount={sol}`	Returns Blink metadata: title, icon, description, action links
`POST`	`/api/actions/pay?merchant={key}&amount={sol}`	Builds and returns a serialized `process_payment` transaction for signing
`GET`	`/api/actions/merchant/{id}`	Returns merchant-specific Blink configuration

AI Chat

Method	Endpoint	Description
`POST`	`/api/ai/chat`	Natural language interface for merchant operations

Example commands:

"Charge 0.5 SOL to customer X" — Generates a payment Blink
"Show me today's sales" — Queries on-chain data, returns analytics
"Create a loyalty campaign with 3x points" — Updates merchant multiplier
"What's my total volume this week?" — Aggregates payment records

QR Code Generation

Method	Endpoint	Description
`GET`	`/api/qr?data={blink_url}`	Generates a branded QR code for any payment Blink

Actions Manifest

Method	Endpoint	Description
`GET`	`/actions.json`	Solana Actions manifest for Blink discovery

On-Ramp Integration

iPay supports fiat-to-crypto on-ramp for merchants and consumers who need to fund their wallets before transacting.

Method	Region	Settlement
PSE	Colombia	Bank transfer, same-day settlement
SPEI	Mexico	Interbank transfer, near-instant
PIX	Brazil	Instant payment system, 24/7
Card	Global	Visa/Mastercard debit and credit

Funds are converted to the selected stablecoin (USDC, EURC, PYUSD) and deposited directly into the user's Solana wallet.

Roadmap

Phase	Timeline	Milestone
Phase 1 — Foundation	Q1 2026	Core protocol, Blinks payments, loyalty system, AI agent, merchant dashboard
Phase 2 — Mainnet	Q2 2026	Mainnet deployment, merchant onboarding pipeline, Transfer Hook v2, multi-currency support
Phase 3 — LATAM Launch	Q3-Q4 2026	Colombia, Mexico, and Brazil pilots; fiat on/off ramp integrations; mobile-optimized flows
Phase 4 — Scale	H1 2027	Multi-region expansion, enterprise merchant features, SDK and plugin ecosystem
Phase 5 — Network Effects	H2 2027+	Cross-merchant loyalty network, iPAY token utility expansion, DAO governance

Projections

Metric	Q2 2026	Q4 2026	Q4 2027
Active merchants	50	500	5,000
Monthly transactions	1,000	50,000	1,000,000
Monthly volume (USD)	$25,000	$2,500,000	$100,000,000
Loyalty tokens distributed	500,000	25,000,000	500,000,000
Markets	1 (Colombia)	3 (CO, MX, BR)	10+ (LATAM + expansion)

Target market: 30M+ SMBs across Latin America currently paying 3-7% in processor fees and waiting 14-30 days for settlement. iPay reduces fees to 0.5% and settlement to sub-second.

Contributing

We welcome contributions from the community. To get started:

Fork the repository
Create a feature branch: git checkout -b feature/your-feature
Make your changes and add tests
Run the test suite: cd ipay_protocol && anchor test
Submit a pull request with a clear description of the changes

Please follow the existing code style and ensure all tests pass before submitting.

For bugs and feature requests, open an issue on GitHub.

Team

Role	Name	Background
Founder & Lead Developer	Daniel Ospina	Full-stack engineer, Solana builder, LATAM fintech

Built by xpandia — the parent company behind iPay.

License

This project is licensed under the MIT License.

Links

Website: ipay.xpandia.co
GitHub: github.com/xpandia/iPay
Solana Explorer: View Program

iPay — Payments that pay you back.
Built on Solana. Powered by Blinks. Driven by AI.
A xpandia company.

Name		Name	Last commit message	Last commit date
Latest commit History 9 Commits
app		app
docs		docs
ipay_protocol		ipay_protocol
.gitignore		.gitignore
DORAHACKS_SUBMISSION.md		DORAHACKS_SUBMISSION.md
LICENSE		LICENSE
README.md		README.md
ipay_protocol_idl.json		ipay_protocol_idl.json

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iPay — El Futuro de los Pagos | The Future of Payments

¿Qué es iPay?

¿Por qué iPay?

Links

Construido por xpandia

English Documentation

At a Glance

Screenshots

Hackathon Evaluation Criteria

Live Demo → ipay.xpandia.co

What is iPay?

Key Features

Architecture

Data Flow

Tech Stack

Challenges We Overcame

Supported Currencies

Quick Start

Prerequisites

1. Clone the repository

2. Deploy the smart contracts

3. Start the frontend

Environment Variables

Smart Contract

All 21 Instructions (by Module)

Payments (4 instructions)

Escrow (4 instructions)

Subscriptions (3 instructions)

Loyalty (4 instructions)

Merchant Management (4 instructions)

Platform Administration (3 instructions)

On-Chain Accounts

Key Addresses

API Reference

Blinks (Solana Actions)

AI Chat

QR Code Generation

Actions Manifest

On-Ramp Integration

Roadmap

Projections

Contributing

Team

License

Links

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Resources

License

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