Payment and Financial Technologies are undergoing a Digital Transformation, driven by disruptive technologies like Block Chain Ledgers, Tokenization, NFC (Near Field Communications).
India is also undergoing a regulatory transformation to help accelerate the financial inclusive Digital India vision. For a quick overview of the New Regulatory framework, please browse the following slides, here
We are looking for young disruptive innovators in payments technology marketplace.
We would like to sponsor and mentor two open source projects for the March-2016 Batch:
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UPI (Unified Payments API) Open API re-factoring
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Inter-ledger Wallet integration
Both these projects will be open source and hosted at Git Hub, thus providing transparent and verifiable credits to the contributors.
All interested will be provided with guidance by our mentors, using social media and communications tools like Hangout and Skype.
Exceptional contributors will be provided stipends.
UPI (Unified Payments Interface) Open API re-factoring
NPCI (National Payment Corporation of India) has created a potential game changing API for Payments, UPI, whose specifications are available here.
However, UPI is XML based and does not conform to modern RESTful services. Whereas, Open API, is the industry collaborative platform under Linux Foundation, to evolve a standard for Next Generation API services.
Scope
Re-factor and implement UPI using Open API specification.
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Study the UPI specification.
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Use the Open API reference implementation (swagger) to re-factor UPI
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Implement the re-factored API using an open source IMPS Wallet. GPay is one such open source wallet.
Assumed that the contributor will know Core Java programming.
Inter-ledger Wallet integration
Block chain technology is open source foundation of Bitcoin.
Block chain technology is now being explored by the financial payments industry. One such project is Hyper Ledger, some of the participants include, IBM, Accenture, many bank and technology companies like CISCO and Intel. Since it is in conceptual stages, we have chosen Interledger for implementation.
Scope
Integrate two instances of open source wallet, GPay, using inter ledger reference implementation, see the 5 bells demo.
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Study & understand Inter ledger Block chain protocol, please read this white paper.
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Understand and run the 5 bells demo.
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Modify the demo to interoperate with two instances of GPay.