Friddy is a decentralized web3 payment protocol that enables global merchants to accept over 1,000 local payment methods, facilitating transactions in emerging markets without the need for traditional banking systems. This approach addresses the challenge of limited access to international payment solutions, allowing businesses to capture a broader customer base and reduce transaction failures.
Funding
Funding not disclosed
Founders
Product
Problem
Many businesses, especially in emerging markets, face challenges in accepting payments due to limited access to traditional banking systems and international payment solutions. This restricts their ability to reach a global customer base and increases the likelihood of transaction failures. Furthermore, reliance on card processors like Stripe and PayPal may not be sufficient, as local payment methods are often preferred.
Solution
Friddy is a decentralized Web3 payment protocol designed to enable merchants to accept over 1,000 local payment methods, facilitating transactions in hard-to-access markets. It addresses the need for alternative payment solutions by providing a single account that supports various payment methods, including local cards, mobile wallets, and bank transfers. Friddy offers features like checkout, API integration, payment links, and QR codes for in-person payments, allowing businesses to customize their payment experience. The platform also aims to reduce fraud and chargebacks by utilizing alternative payment methods that are definitive and final.
Target Audience
The primary target audience includes businesses operating in emerging markets and those seeking to expand their reach by accepting a wider range of local payment methods beyond traditional card processors.
Features
- Support for over 1,000 local payment methods globally, including wallets, bank accounts, and cash apps.
- Checkout feature with server-side code that redirects to a prebuilt payment page.
- API for customizing the payment experience and accepting payments through a custom UI.
- Payment links for accepting payments without building standalone websites or applications.
- QR code generation for accepting in-person payments.
- Money Order feature to send funds to another party's payment method of choice globally.
- Unified on and off-chain liquidity.
- Instant and controlled settlements.
- Business and individual role permissions.