PayLater

Problem Statement

PayLater is a minimal Web3 payment platform that allows users to pay bills instantly or split payments into EMIs using PYUSD. Vendors are paid upfront from a liquidity pool, while users repay in scheduled installments. The platform includes wallet verification using zkpdf to generate zkproofs with Web2 financial proofs such as CIBIL score, to ensure EMI eligibility. The system is designed for transparency, trustless payments, and potential cross-border usage.

Solution

The frontend is built with React for a minimal and responsive UI. Users interact with the platform using MetaMask to connect their Ethereum wallets. The backend API handles wallet verification and EMI eligibility checks. Smart contracts are written in Solidity following the ERC-20 standard, deployed on the Ethereum network. These contracts manage the liquidity pool, EMI repayment schedules, and vendor settlements using PYUSD stablecoin. This setup ensures a trustless, transparent, and end-to-end flow from bill generation and payment choice, to EMI tracking and repayment, while keeping user funds and interactions secure.