Rapyd Stream

Stream money with a single click

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Inspiration

Sending monthly payments to a contractor or supplier is inefficient and cumbersome. Settling a payment every week or month made sense 100 years ago but we should build tools to advance payments further.

What it does

Stream allows users to stream money directly to others. Streamed funds are transferred linearly over a specific time-frame. This means that the receiver can immediately spend their money as they receive it.

How we built it

Stream is built on top of the payments API. The stream starts by depositing the entire amount into escrow. A custom backend will then keep track of the linear claim-logic (such as the claim resolution, the time left and additional error handling).

Challenges we ran into

Settling the partial claims for the user should not overload the rapyd server but it should also not impede with the customer experience to withdraw money instantly. We did a lot of testing to make sure we got the perfect mix between usability and scaleability. Currently we settle the partial payments every minute (the frontend widget keeps track in real time of the stream). For the user this 1 minute delay is negligible but it helps scale the application by a lot.

Accomplishments that we're proud of

Learning the Rapyd API in a week and implementing a solid backend

What's next for Rapyd Stream

Streams could be worked out further in a product that can make money streams more efficient (eg using a stream as collateral for an outgoing stream) or even redirecting a stream to pay for utilities.

eg an employee has a $3000 stream that they can partially redirect to their electricity provider to pay for the real-time usage of electricity.

Advanced streaming logic would have to be developed together with Rapyd to optimize certain backend logic (such as virtual accounts). I do believe Rapyd is the perfect platform to achieve these streams given the already existing logic of virtual wallets.

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