INXY Payments – A Fintech Platform That Simplifies Payments in Cryptocurrency
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Cryptocurrency has gained popularity in recent years and has become a way of conducting financial transactions. Securing payments in cryptocurrency can be time-consuming and tedious, but INXY Payments offers a simple yet secure solution for recurrent payments.
Today we got a chance to uncover the success story of INXY Payments by interviewing their Co-Founder, Serge Kuznetsov, who has managed to raise $7.6 million for his technology startup.
Let’s find out how they climbed the ladder of success in this competitive fintech world.
Thought Behind INXY Payments
“We had a huge headache of making monthly payments of salary to our team, which took at least 4 hours twice a month. We started to look for a solution for simple recurrent payments in crypto but haven’t found the proper ones,” says Serge Kuznetsov, the Co-Founder of INXY Payments.
Additionally, they had a previous project connected with the subscription tracker, and they knew that the subscription economy was growing 6x times more than the regular S&P 500.
They decided to start their own crypto–processing solution for businesses to help with recurring payments. During the cust devs, they updated their product vision to full-scale crypto processing, and they aim to create the bridge between Web2 and Web3 for Web2 companies.
Challenges & How We Overcame Them
The main challenge was that all of us had never worked with Web3, and we dived deeper from the beginning of the year. Hired mentors from Fintech and Web3 space and spent several months researching and diving into the space. Our core developers and the team are good at Web3, yet there is so much to learn.
“I think the main motto of our team is lifetime learning and deep diving.” – Kuznetsov.
The Biggest Achievements of INXY Payments so Far
We achieved $1,000,000 in just 8 months with very limited resources. If we had been funded from the start, we would have achieved that amount in 2 months. But bootstrapping is harder but interesting.
INXY Payments covers all main blockchains and coins and is not dependent on any particular blockchain, which provides flexibility to their partners and on any market fluctuations.
What’s the Secret Sauce to Success?
2 Pillars: Customers and the team.
You should heavily rely on the customers: do the customer’s interviews regularly (both business and individual ones) – to make their experience exceptional and have the best possible team, who have full potential to create the best product worldwide.
‘I aim to support, help and educate them, but not micromanage. ‘ – Kuznetsov.
What are INXY Payments’ Plans for Growth and Expansion in the Future?
Our main aim for this year is to focus on several areas of Web2 businesses: Adtech, hosting services, Edtech, and marketplaces. We already have hundreds of clients waiting for the major releases there, and we are also focused on constant product improvement.
We plan to launch the Crypto<>Fiat exchange soon as well as Crypto<>Crypto. So our customers can automatically convert all the crypto they receive for their products and services in auto mode, which is super convenient for their accounting and operations.
We will also give them the option to receive payments in any coins and convert them automatically into stablecoins to avoid any possible losses due to the fluctuation of crypto.
The next stage is adding the staking and on-chain subscription with full API capabilities.
What’s the Long-Term Vision for INXY Payments?
To become a leader in Crypto-processing for Web2 and Web3 businesses. We aim to help them earn more and make it as simple, convenient, and reliable as possible by providing the best possible user experience for our partners and end customers.
Social Champ wishes the team INXY Payments good luck for future endeavors.