iTransa is an instant transaction network for fiat and digital payments with its own digital currency called XiK, iTransa provides buyers and sellers everywhere with the easiest, most cost-effective and most reliable way to pay.

iTransa eliminates the need for banks,get rids of credit card fees,currency exchange fees and money transfer fees. It is an instant transfer , globally available on any internet connected device, highly secure and nearly free value transfers.

iTransa is aiming to be a bridge between the traditional payment infrastructure and blockchain based assets and currencies.

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XiK – One World One Currency

An iTransa network’s native currency, abbreviated as XiK, is a digital currency that serves as a means of collecting network fees, as a means of compensating ambassadors and freelancers, converting iTransa points into bonus, as a means of exchange (cross-border) between buyers and sellers and p2p loans & transfer. XiK is designed to overcome the scalability challenges associated with incumbent digital currencies, and will excel in common payments scenarios by supporting instant, zero-fee transactions. After first achieving widespread usage in direct network use cases , XiK will have a robust foundation on which to become more widely-used as a means of exchange.

XiK’s value will be completely tied to the growth of the iTransa Network. XiK can be bought in local currencies where other digital currencies can ONLY be bought in USD, EUR or GBP.

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Online Transactions

Worldwide online consumer payments transactions exceed $50 trillion annually and are increasingly carried out using electronic payment methods. Yet despite the intense competition within the payments industry, consumers and merchants face high fees and low approval rates. Digital currencies could represent a compelling alternative but it is NOT yet viable to use in regular transactions.

Offline transactions

Worldwide offline transactions ( POS terminals, invoices) exceed $ 200 trillion annually, these transactions are done via cash, immidiate transfer or bank transfer. Most of these transactions are done in local currency via cash, local bank debit card or bank accounts. Merchants needs to have credit card readers, it costs monthly fees and higher transaction commission. While consumer should have local bank account in order to pay invoices or buy any item via pos terminals otherwise consumer has to pay some fees and get worst currency rates. Digital currencies seems better alternative for both parties, merchants would NOT need POS terminals and would pay less fees per transaction and consumer don’t need to worried about exchange rates and extra fees.


Cross-border e-commerce

Cross-border B2C /B2B e-commerce will reach $1 trillion in annual transaction volume by 2020, the clear majority of which will be paid for using cards. However, as a consequence of the four-party model adhered to by the major card networks, transactions involving card issuers and card acquirers located in different regions are inherently less reliable than equivalent domestic transactions. Cross-border card payments are encumbered by higher fees, higher abandonment rates, and lower approval rates relative to domestic transactions

Peer-to-peer commerce

Numerous non-bank service providers offer solutions for peer-to-peer (P2P) transactions. These services handle the money transfer aspect of P2P transactions effectively, but their use is confined primarily to transactions that involve trusted parties. These services fail to account for the conformity and delivery of goods or services; rather, they focus solely on the authorization, clearing and settlement of money transfers. As such, they are not complete payments solutions, and are not suited to accommodate P2P commerce involving parties that do not know each another and may never transact again.

Another example that highlights the inefficiency and expense it causes is international bank wire transfers. Using ordinary banking systems this kind of procedure is slow and complicated. What’s more, the cost can easily exceed 10% of the amount being transferred, especially with small sums. It’s a service that brings few, if any, benefits and a lot frustration but for many customers, this is the only option available.

Above mentioned issues can be solved by iTransa platform. With cryptocurrencies and other blockchain based products the story is completely different. Critically important is the fact that there are usually no middlemen between the two parties making the transaction, just the blockchain itself. This fact brings two major benefits:

• It takes seconds to perform the transaction, and this time is not affected by how far apart the parties are.

• The cost of the transaction is reduced to just a fraction of a percent of the amount being transferred.

Limitations of traditional and digital financial system

Digital – Fiat currency exchange

At present, cryptocurrencies function fairly well as an asset, but remain virtually impossible to use as a means of payment in everyday life: users have to manually sell their crypto assets on an exchange, then transfer the resulting amount in fiat currency to their bank account. Only when this transfer is completed can they use these funds to make purchases.

Blockchain might just be the technology that will change how we perceive financial and banking services; completely new ways of adding value to customers will emerge.

Limited global availability

Traditional financial system has inability to offer accessible ,reliable and affordable services to people around the world with almost 3 billion people lack access to banks or similar institutions. With very complex operations and cost structures burdened by overheads, traditional financial service providers put a hefty price tag on inclusion in the global economy.

Limited availability of digital currencies

Almost every exchange can offer USD to Bitcoin or other digital currency conversion. Some are also able to convert to GBD and EUR. However, the number of people living in countries where these three currencies are used barely reaches 1 billion. This still leaves around 6 billion potential cryptocurrency users unaccounted for, stifling the adoption of cryptocurrency.

iTransa provides possibility to use fiat and/or digital currencies(XiK) for placing an online grocery order or pay for coffee at café or help a NGO.


Consumer Services

iTransa’s success is the extent to which it establishes a critical mass of consumers that are equipped to use its payments solutions — for peer-to-peer payments, peer to peer loans and merchant payments alike. To this end, iTransa is developing consumer offerings that will provide user-friendly gateways to a range of payments-related services, encompassing both fiat and digital currencies. The relative complexity of digital currencies has limited their widespread adoptions in payments use cases so far.


iTransa’s main consumer offering is a digital and fiat currencies wallet that provides instant, easy access to the iTransa payment network and supports a variety of consumer payments use cases.

The relative complexity of digital currencies continues to undermine their adoption by mainstream consumers.In addition to supporting a variety of payment, storage and exchange use cases, iTransa’s wallet will provide an ideal entry point for mainstream consumers looking to venture into the digital currency domain for the first time.

Peer to peer transactions:

iTransa users will be able to make instant, secure transfers to their peers by scanning their iTransa QR codes. Transfers will be instant and low-to-zero fee ( depends on currency selections).

 Peer-to-peer loans:

iTransa users will have ability to borrow loans to each other and make extra income by charging fees based on return period of loans. All loans will be given in XiK currency. Loans will always be interest free. As loan is offered in XiK so there will be NO effect of inflation. Fees will be paid in XiK too. Loan criteria will be based on trust and transparency. If consumer is making more transactions by peer-to-peer and buying items from merchants. They will get high trust score and personal credit value will also be counted. iTransa will take small fraction of fees as commission.

P2P loans is an ideal opportunity for big corporations,they can also offer instant peer loans (return period upto 3 months) to their customers. This will increase conversion rate, may earn fees on loans and improve relations with customers.


Merchants Services

The second pillar of the iTransa network’s success is the extent to which it can attract and retain a large base of merchants that accept payments using iTransa rails. To this end, iTransa has developed a suite of merchant tools and services that make iTransa a compelling proposition for merchants, where as an addition to, or a replacement for, their existing payment systems.

O2O marketplace:

Merchants can upload products /services or sync inventory with current inventory database. Start accepting online orders with shipment and/or pickup facility. As it is O2O marketplace,consumer in the neighbourhood will know about merchant products and services and it will increase foot print.

QR code based payment solution:

Merchants can create QR code for POS terminals and start accepting via it from customers. Merchants can create infinite QR codes based on their requirements. They can create codes for invoices too and allow split payments. As there is NO need of card reader to accept payment, this service can be used in any type of industry.

Business to Business Credit concept:

Merchants always buy in bulk from manufactures or they just want to expand their business. Most of manufactures are located outside their native country , it is almost impossible to get a ”credit line”. Businesses may ask for ”Credit line” from other merchants. If merchants borrow money they can charge fees based on return period. ”credit line” will also based on trust worthiness and transparency. If merchants is selling lot of products and services and have good reviews from customers, they will get higher credit score. Loan will be granted and paid back in XiK currency.

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