ePay - Revolutionize ticket sales + merchant payments Qorus-Infosys Finacle Banking Innovation Awards 2024

Concept and Objectives Our project introduces a mobile application designed to revolutionize ticket sales and merchant payments through the use of QR codes. The primary objectives of this application are to: 1. Enable seamless ticket sales and merchant payments using QR code scanning. 2. Eliminate the need for physical cash transactions, promoting a cashless economy. 3. Streamline the ticket purchasing process and reduce wait times for customers.

How It Works The application allows merchants to receive payments simply by scanning QR codes, making transactions quick and efficient. Customers can use the app to purchase tickets and make payments directly from their mobile devices, ensuring a hassle-free and secure experience.

Reasons Behind the Innovation The QR code-based payment app was developed to address several key challenges: 1. Convenience and Efficiency: By facilitating QR code-based transactions, the app provides a more convenient and efficient solution for ticket sales and merchant payments. 2. Streamlined Process: The app significantly streamlines the ticket purchasing process, reducing wait times and improving customer satisfaction. 3. Promotion of Cashless Transactions: By eliminating the need for physical cash, the app promotes a cashless economy, which is safer and more efficient for both merchants and customers.

State of Competition In the current market, several mobile payment solutions exist, but our application stands out due to its specific focus on completing payments using QR code technology. While other platforms offer mobile payments, few provide the combined convenience of ticket sales, day-to-day utility payments and QR code merchant transactions in a single app. This dual functionality not only simplifies operations for merchants but also enhances the overall user experience for customers. Additionally, our app's capability to handle various payment methods like card payments, account transfers, and wallet-to-bank payments adds a layer of flexibility that is not yet matched by competitors.

Sources of Inspiration The inspiration for this project came from observing the inefficiencies and inconveniences associated with traditional ticket sales and cash-based transactions. We aimed to develop a solution that leverages modern technology to create a smoother, more efficient process for both merchants and customers. Our goal was to foster a cashless economy, improve transaction security, and enhance overall user satisfaction.

Main Results So Far Since its launch, the mobile application has achieved the below: - 335 Transactions: This includes both ticket sales and merchant payments. - Total Turnover: UGX 21,760,220 (approximately USD 5,864) has been processed through the app. - Payment Method Breakdown: The transactions consisted of 6% card payments, 24% account transfers, and 70% wallet-to-bank payments, showcasing the app's ability to handle diverse payment preferences.

Our innovation in QR code-based transactions is poised to set a new standard in the industry, offering unparalleled convenience and efficiency for ticket sales and merchant payments. This project highlights our commitment to leveraging technology to drive growth, enhance customer experience, and promote financial inclusion.