Tangopay: The payment processor for Dancing with Ada

There is currently a growing demand for payment processors. Cryptocurrencies have drastically lowered the barrier to accepting payments online. In this way, Tangopay becomes a global payment system, with none of the exchange rates and foreign transaction fees that many credit cards charge.

There is a large market for freelancers, freelancers, and businesses that sell a variety of services on an individual basis.

NFT marketplaces, startups selling B2B software solutions, or software developers selling mobile app solutions, or small and medium-sized businesses selling their products via e-commerce. There are also foundations that receive crypto donations.

Cardano has applications similar to ADA Pay, Revuto or Bidali. Tangopay has its own characteristics, which are detailed in the proposal.

Revuto is an active subscription management dApp built on top of Cardano to help people save money on their subscriptions.

ADA Pay comes with a full suite of payment gateways, donation gateways and merchant back office CRM. It will make it easier for traders to accept a payment with ADA and then immediately use it for staking rewards, creating a positive feedback loop. It will be embedded in websites, mobile devices and eventually point-of-sale systems.

Bidali is a new digital trading experience that helps you keep more of your money. It has completely overhauled the payment experience by making it easy, free and rewarding.

There are various advantages for both merchants and customers who use Tangopay.

The merchant and its customers benefit from the advantages of low transaction costs through Cardano fees compared to other blockchains or credit card network fees and payment processors.

Merchants benefit from access to a global customer base and a seamless and seamless mechanism for receiving borderless digital currency payments.

Customers can pay directly from their devices using Cardano as a settlement network. This way, they no longer have to collect and store payment information or sensitive customer information.

It can be integrated with major ecommerce platforms like WooCommerce, Shopify, and Magento.

All payments are on chain, which means that all payment transactions are recorded in real-time on the Cardano blockchain with all the security mechanisms it provides.

You use invoices to collect payments from existing customers or share a payment link, no code required.

Traders can manage accounts and payments, send invoices and view detailed income and financial reports right from the dashboard. They can create shared custody of wallet funds by creating a multisig wallet that requires the signature of key holders to make withdrawals from account funds.

The proposal to dance

Tango is a music genre and dance characteristic of the cities of Buenos Aires (in Argentina) and Montevideo (in Uruguay).

Tangopay intends to facilitate peer-to-peer ada payments from anywhere, anytime, and is not like a bank in that while it offers all the benefits of payment processing, it is a no-custodial service, meaning you all funds received are under the full and exclusive control of the user as Tangopay has no access to the funds.

How is it achieved? Tangopay generates addresses that can be used to receive payments (or imported from an existing wallet). The application continuously monitors the blockchain for payments, so there is no infrastructure to build or maintain to monitor the blockchain, and users can focus on running and growing their business.

Tangopay enables quick integrations with three popular ecommerce platforms, WooCommerce, Shopify and Magento to ensure payment services can be set up quickly.

Payment buttons and checkout flows can be used to provide an easier way to submit payment details to customers. These integrations have a friendly design and ensure an optimal customer experience.

This contributes significantly to saving costs and set-up time and offers complete flexibility and the ideal convenience of accepting cryptocurrency payments via a trusted solution.

Payment Elements:

  • Choose the format option that works best for your business. Use payment links, purchase buttons, or QR codes, then share via social media, email, SMS, or on a website.
  • Customize your brand’s look and feel by adding your logo and colors.
  • Use the dashboard or email to be notified of a successful payment and trigger a set of predefined actions.
  • Build payment links at scale via an API to automate marketing campaigns, streamline sales operations, or speed up payment collection.
  • Payments with Cardano and Milkomeda.

There will be shopping cart plugins for all major ecommerce platforms that set up the shop with Tangopay in minutes, like WooCommerce or Shopify.

Tangopay wallet or payment APIs can be integrated with the enterprise to offer customers a personalized cryptographic experience.

There will be instant payment notification (webhooks/callbacks) and invoice generator.

Modules are designed for this: Payments, Balances and Customers, Orders, Invoices (manage and create and send invoices), Products (create/edit/delete products), Transactions, Webhooks.

There will also be custom payment buttons (widgets), hosted payment pages, and multisig signature credit withdrawals.

The timetable

The development is presented in this chronology:

First month:

  • Authentication (registration/login).
  • Create a wallet to store and withdraw payments from this wallet.
  • Delegate wallet funds in a pool.

Second month:

  • API for payments, products, customers.
  • Payments with Milkomeda.
  • Payment Webhooks
  • Integration with external API providers for price conversion.

Third month:

  • Invoices: Invoice management. To draw up the invoices. Send invoices for a specific order
  • transactions
  • Returns
  • Multisig Withdrawals

Fourth month:

  • Customized payment buttons and links.
  • Hosted Checkout Pages
  • JS SDK

fifth month

  • OpenSource Woocommerce Plugin

6 months

  • OpenSource Shopify Plugin

The team looks at the success of this project if between 100 and 200 users adopt the service in the first 3 months.

The budget

The team budgets in detail:

  • Product Manager / Solution Architect, $5,000 x 4 months = $20,000
  • 1 backend developer: $5,000 x 4 months = $20,000
  • 1 frontend developer: $4,000 x 3 months = $12,000
  • 1 DevOps: $4,000 x 3 months = $12,000
  • 1 designer: $4,000 x 1 month = $4,000
  • Infrastructure 12 months: $12,000. Monthly cost $1,000 (db-sync $200 x 2, tx processor: $100 x 2, load balancer $50 x 2, application server: $100 x 2, queue: $100).

Funds requested: $80,000

The team

The team that proposes Tangopay develops Tangocrypto Software as a Service: https://www.tangocrypto.com. It also develops cardano-wallet-js: https://github.com/tango-crypto/cardano-wallet-js and runs the TANGO Stake Pool.

You were selected by dcSpark as one of the first 11 Milkomeda validators.

Product Manager and Solution Architect: Javier Toledo Cordova

Professional solution architect with more than 10 years of experience in the technology field, specializing in software architecture and cloud computing. Started his career as a network architect designing data center networks and now focuses on cloud architecture and product design.

Linkedin: https://www.linkedin.com/in/javiertc

Twitter: https://twitter.com/javiertc86

Senior Full Stack Developer: Leobel Izquierdo

Software engineer with a bachelor’s degree in computer science and over 7 years of experience in the software industry. Has been working with blockchain technologies such as: Ripple, Ethereum and Cardano for a year.

Linkedin: https://www.linkedin.com/in/leobel-izquierdo-30b96086

Twitter: https://twitter.com/leobelizquierdo

DevOps: Manuel Morejon Espinosa

Cloud engineer and Docker captain with a passion for cloud-native architecture topics and more than 10 years of experience. Possess technical and communication skills to help teams improve workflows and reduce delivery times. The goal is always to maximize productivity by minimizing errors. Enthusiastic about teaching and sharing knowledge with the community.

Linkedin: https://www.linkedin.com/in/manuelmorejon

Twitter: https://twitter.com/morejon85

User Interface Developer: Juan Manuel Menendez.

Frontend developer: Juan Manuel Menéndez. Senior front-end developer with over 8 years of software development experience. Advanced experience in JavaScript, Typescript, ReactJS, Apollo GraphQL, CSS, HTML, NextJS, Responsive Web Design, NodeJS, OOP and functional programming. Familiar with VueJS, Angular and common practices such as Scrum, Git, continuous integration and testing.

Linkedin: https://www.linkedin.com/in/juan-manuel-menendez

If you want to read the original proposal on IdeaScale: Tangopay (Merchant Payments)

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