realme PaySa UPI Hackathon

realme & realme PaySa

#Hackathon
#Presentation
#Coding Challenge
#Others
Registered 2,198
Registration Deadline 10 Mar'20, 11:59 PM IST
Team Size 1 - 5 Members
Impressions 402,892
Eligibility
All

realme PaySa UPI Hackathon: Stages and Timelines

Idea Submission (Online)

Register for the challenge and submit your idea. At this stage you need to keep it short, simple and attract our attention!

Start Date 10 Feb'20, 04:30 AM IST End Date 10 Mar'20, 06:29 PM IST

Detailed Solution Submission (Online)

The Top 50 teams need to submit their detailed solutions along with the tech stack.

Start Date 15 Mar'20, 04:30 AM IST End Date 5 May'20, 06:29 PM IST

Prototype Presentation (Mumbai)

The 5 Shortlisted teams will have to present the prototype of their solution at offline Hackaton in Mumbai. The shortlisted teams will get (if required) technical, compliance & other know-how support from realme paySa, NPCI and HDFC Bank for developing a solid prototype.

Start Date 25 Jun'20, 04:30 AM IST End Date 25 Jun'20, 01:30 PM IST

All that you need to know about realme PaySa UPI Hackathon

M-kash India Financial Solutions Pvt Ltd, the developers of realme PaySa App is organizing this UPI Hackathon!

Why Realme PaySa UPI Hackathon?

Mobile payment is one of the core pillars of our financial services platform and we are studying UPI closely. We are amazed by the swift adoption of UPI by the Indian consumers, its growth, and the exponential growth in digital payments that is yet to come. We believe that our long term success depends on our ability to consistently evolve through innovations and solve real-life problems or make life better. This UPI Hackathon event will help us in planning to identify new solutions, use cases and co-create the future of UPI in India. With their deep experience in digital payments, NPCI and HDFC Bank, are supporting us to identify the next best disruptive innovation. According to us, we can always do better when we do it together!

What is UPI Hackathon all about & theme kya hai? 

It is all about dreaming, conceptualizing the storyline, sharing the story, convincing us that the story will truly change India, showing a willingness to implement, taking our support to make the proof of concept and with slight luck, win the grand prize. Really simple, isn’t it?  

As far as the theme of this UPI hackathon is concerned, it is to work with UPI as the base payment service/platform and provide very innovative or crazy solutions which are either targeted to make life simpler, save costs, help solve a problem or bring new business opportunities. 

This covers a wide bandwidth of people who can participate. It could be individuals or small businesses or it could be useful to urban or rural India. We are all ears to everyone! Whether you are a student, a start-up with a solution, employees working in very large companies, a payment company or a coder, the list is endless. It is suggested to read the document carefully to learn about the rules of the game.

Koi clue milega or ideas or problems? We are raring to register our idea! 

To make things easier, we have listed below some ideas and themes as indicators of what could be potential areas of work. You are welcome to show very different thoughts or themes.

  • Customer Registration to UPI: How to make it simpler registering the next 300 million Indians to UPI? Is there a way to make the process even simpler, easier & more secure? How could UPI be used by other devices & platforms such as smartwatches or smart TVs?
  • QR Code penetration: How could we have a QR code everywhere and what could be done to improve the QR scan and pay journey? 
  • Lending: UPI provides a solid platform for consumer & SME finance. How could we provide loans more easily and cheaper to users? Can UPI help in repayment, collections, credit scores? 
  • Investments: India is a country of savers. How could the UPI platform be used to start micro-investments in mutual funds, gold or maybe other instruments? 
  • B2B solutions using UPI: Many businesses are constantly transacting and paying other businesses. How could UPI add value to some use cases in specific sectors such as FMCG, pharma, retail, telecom, agriculture, etc. 
  • Security and fraud prevention: How could we protect the customer from fraud and increase security without impacting the user experience? 
  • Education & digital payment literacy: How could we educate the next 300mn Indians about UPI in a simple, cost-effective and easy way? 
  • Physical shops/retailers / small mobile businesses: How to onboard a merchant to UPI in less than 5 mins with a very simple DIY process? What other value-added services can they receive or give leveraging UPI? 
  • E-commerce / Digital commerce: How to increase the penetration of UPI with the millions of small and big businesses in the digital space and how to make UPI the preferred mode of payment? 
  • Public transport and government services: How to leverage UPI to make access to public transport simple and easy or transaction for government services easier? 
  • Rural India or Tier 2/3/4 cities: Any specific solutions for cities where penetration of digital payments is limited? 
Kuch background on UPI, to help you get started with your research 
What is UPI
  • Unified Payments Interface (UPI) is a framework that powers multiple bank accounts into one single mobile application (of any participating bank), integrating multiple banking features, seamless fund routing & merchant payments into one hood. It also allows for the "Peer to Peer" collect request that can be scheduled and paid according to necessity and convenience. Transactions are usually person to person or person to the merchant.
Unique Features of UPI:
  • Immediate transfer of money through mobile devices anytime round the clock 24*7 and 365 days.
  • One-stop mobile application for accessing different bank accounts.
  • Single-click 2-Factor Authentication process – Aligned with the Regulatory guidelines yet provides for a very strong feature of seamless single click payment.
  • The virtual address of the customer for Pull & Push provides for incremental security with the customer not required to enter the details such as Card no, Account number; IFSC, etc.
  • It allows bill sharing with friends.
  • The best alternative of running to an ATM or rendering an exact amount and to avoid Cash on Delivery hassle.
  • Merchant Payment with In-App Payments or Single Application.
  • Barcode (Scan and Pay) based payments, Utility Bill Payments and Over the Counter Payments.
  • Donations, Collections, Disbursements Scalable.
  • Raising a Complaint from Mobile App directly.

For More Information on UPI: Visit NPCI Website by clicking here.

Participants can access the UPI APIs through NPCI API accelerator available at https://infinit.co.in/home

I am eager to participate, rules of the game kya hai?  

Any entity registered in India or Indian residents can participate. The size of the registering team should not exceed 5 members and once you enter the contest, teams cannot change the members.

Other rules – please do read carefully 

You are required to read these rules and accept them, when you participate. If you do not agree to a specific clause, please do highlight it clearly during the registration process in which case you will not be able to participate in the hackathon. 

  • A team can have upto five members 
  • A team can submit only one idea in the event
  • A person can be a part of a single team only
  • To develop and present their solutions, participants are required to carry their own digital devices, hardware, software, and tools.
  • We value ethical teams! So, you are expected to come up with new and innovative ideas.
  • Jury’s decision would be final
  • Realme PaySa will be allowed to use the IP created and submitted by the participant during this contest and we will be kept indemnified by the participant for any third-party claims
  • Any communication regarding event participation, results, or anything related to the event can only be done with the explicit formal approval of Realme PaySa
  • Please read the detailed terms and conditions and the privacy policy available on the platforms before you register to participate as your participation will be processed after you agree to them.

Let the Game of Codes begin!

What are the important dates & deadlines?

  • 10 Mar'20, 11:59 PM IST Registration Deadline
  • 10 Mar'20, 11:59 PM IST Idea Submission Deadline
  • 15 Mar'20, 10:00 AM IST Detailed Solution Submission Launch
  • 5 May'20, 11:59 PM IST Detailed Solution Submission Deadline
  • 13 May'20, 07:00 PM IST Detailed Solution Submission Result Declaration
  • 25 Jun'20, 10:00 AM IST Prototype Presentation (Mumbai)

Contact the organisers

Download attachments

Rewards and Prizes?

The 2 winning teams will take their ideas from being just a dream to going live on our platform and a potential contract to work with realme PaySa.

Winner

Rs 5 lacs when you win & Rs 5 Lacs if your idea goes live on realme PaySa

1,000,000
Certificate

Runners Up

Rs 2.5 lacs when you win & Rs 2.5 Lacs if your idea goes live on realme PaySa

500,000
Certificate

Finalists

5 finalist teams will get a chance to present their ideas to big corporate and digital payment leaders, a large platform with great visibility

About realme & realme PaySa

realme is a technology brand that specializes in providing smartphones with leap-forwarding performance, design, and quality. The brand was officially established on May 4th, 2018 by its founder Sky Li and Madhav Sheth in India with a bunch of young people with ambition and courage to make leap-forward achievements. As a young brand propelled by a “Dare to Leap” attitude, realme strives to provide a leap forward experience with its product and service which goes above its price segment.

With only 20 months into operations, realme has successfully established itself as a smartphone brand offering devices that effortlessly amalgamate outstanding designs with advanced technologies and industry-leading qualities. While driving most of its earlier sales through online commerce, the brand is adhering to the growing demands of the customers by expanding its footprint in the offline market. 

Currently, realme is present in the markets in more than 20 countries such as China, India, Indonesia, Russia, Vietnam, Thailand, Malaysia, North Africa, the Middle East, and many EU countries.

realme currently has 4 series: Pro series as the “flagship for youth, C series as “entry-level value king”, X series as “Leap to Premium” series and the number series as “Power Master”. The products offered by realme have all stood with its product philosophy of “Power meets Style”.

As per Counterpoint realme is the fastest-growing smartphone brand in the world. In India, realme has also created a sales miracle by selling 5.2 million smartphones during 2019 Diwali month and achieved 15 million shipments in 2019. In 2019, the global number of smartphone shipments was more than 25 million units, with a year-on-year growth of over 500% in 2018.  For 2020, realme expects to maintain over 100% global growth rate

As per both Counterpoint and IDC, realme has become the 4th largest smartphone brand in India since Q4 2018. CMR has claimed realme as No. 1 Quality Smartphone Brand in India with the lowest return rate and the highest customer satisfaction on reliability.

Becoming the No.1 brand on the Flipkart platform is a testimony to the fact that realme has made its mark in a small timeframe becoming one of the most preferred mobile phone brands for its performance, design, and quality.

realme PaySa – Yeh Kya Hai? 

Incepted in 2019, realme PaySa is the latest entrant to India’s financial services landscape. We aspire to bring a meaningful change in the lives of our customers by making their access to financial services simpler, cheaper and faster.

realme PaySa is available on Google Playstore & realme app store to download and use as a Beta app. After completion of the beta phase, we plan to pre-install on all realme phones. The platform aims to cater to both individual and SME customers and we believe that the co-development of products with customers and other stakeholders is the key to our long-term success. We plan to cover the financial needs of our users across their life cycle with 4 business lines – lending, payments, savings & protection. Within the next 2 years, we would be happy to have onboarded 25mn financial services clients.

The beta version of the app that was launched on 17th Dec ’19 offers free credit reports, mobile screen insurance, personal loans, and business loans. We expect to expand our product offering in 2020 and become a full-stack financial service platform.

Products Categories

realme Smartphones

  • 8 Series
  • C Series
  • 7 Series
  • X Series
  • 6 Series
  • 5 Series

narzo Smartphones

  • realme narzo 30 Pro 5G
  • realme narzo 30A
  • realme narzo 20 Pro
  • realme narzo 20

realme TV

  • realme Smart TV 4K (43'' & 50'')
  • realme Smart TV SLED 4K
  • realme Smart Tv (32'' & 43'')
  • realme 100W Soundbar

Audio

  • realme Buds Air 2
  • realme Buds Air Pro
  • realme Buds Wireless Pro
  • realme Buds Classic
  • realme Buds Q
  • realme Buds Air Neo
  • realme Buds Air
  • realme Buds Wireless
  • realme Buds 2

Smart Life

  • realme LED Smart Bulb
  • realme Smart Scale
  • realme Watch S Master Edition
  • realme Motion Activated Night Light
  • realme Watch S Pro
  • realme Watch S
  • realme Selfie Tripod
  • realme Smart Plug
  • realme Smart Cam 360°
  • realme Watch
  • realme Band

Accessories

  • Power Bank
  • Cable
  • Cases
  • Charger
  • Watch Strap
  • Battery

Lifestyle

  • Backpacks
  • Clothing
  • Toothbrush
  • Luggage
  • Gaming Accessory
Read more & get a sneak-peek into realme & realme PaySa
Voice your opinion by leaving a feedback & your rating
*This opportunity has been listed by realme & realme PaySa . Unstop is not liable for any content mentioned in this opportunity or the process followed by the organizers for this opportunity. However, please raise a complaint if you want unstop to look into the matter.
Raise a Complaint