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PolygonPay
Stablecoin Payments for Dubai Merchants
Instant Settlement • 0.4% Fees • Zero Crypto Knowledge Required
Built for Hadron Payments & RWA Accelerator - Dubai 2025
Powered by Polygon PoS • Circle USDC • WalletConnect v2
Founder: Kamal Nayan Singh
Contact: @kamalthedev
The Problem
$847 Billion Opportunity Gap
Dubai's Crypto Payment Paradox
Despite Dubai positioning itself as the global crypto hub:

❌ 98% of Dubai SMBs cannot accept cryptocurrency payments
The Pain Points:
For Merchants (127,000 SMBs):
  • 💸 Traditional card processors charge 2.5-3.5% fees + AED 0.25 fixed fees
  • ⏰ Settlement takes 2-5 business days (crushing cash flow)
  • 📉 Annual lost revenue: $2.8 billion in excessive fees
  • 🚫 Existing crypto processors (BitPay, Coinbase Commerce) require technical expertise merchants don't have
For Customers (2.3M crypto-holding tourists + 450K Web3 workers):
  • 💰 Must convert crypto to fiat at 2-4% spreads
  • 🌍 $4.2 billion annual transaction volume lost
  • 😤 Frustration: "I have crypto but can't spend it anywhere"
The Market Demand Exists. The Infrastructure Doesn't.
Market Timing
The Perfect Storm
Why NOW is the Moment for Crypto Payments in Dubai
4 Converging Tailwinds:
Regulatory Clarity (2024)
  • Dubai's VARA framework provides clear licensing pathways
  • Virtual Asset Service Provider (VASP) licensing now streamlined
  • UAE crypto adoption: 34% (3rd highest globally)
Infrastructure Maturity
  • Polygon PoS: <0.4s finality, $0.001 transaction costs
  • John Egan (former Stripe CPO) joined Polygon (Sep 2025)
  • Stripe launched stablecoin subscriptions (Oct 2025)
Market Demand Explosion
  • Dubai welcomed 17.15 million tourists in 2024 (+24% YoY)
  • 58% are Gen Z/Millennials with 3.2x higher crypto adoption
  • Dubai positioned as global blockchain capital (TOKEN2049, GITEX)
Economic Pressure
  • UAE inflation: 4.2% (2024)
  • Card processing fees increased 15-20% post-pandemic
  • Merchants desperately seeking cost reduction
The Window is Open. Incumbents are Asleep. We Must Move FAST.
The Solution
PolygonPay
Stripe for Crypto, Built for Dubai
PolygonPay enables Dubai merchants to accept USDC/USDT payments with:
  • ✅ Instant Settlement - <0.4 seconds on Polygon PoS
  • ✅ 0.4% Platform Fee - 6-9x cheaper than card processors
  • ✅ Zero Crypto Knowledge - No wallets, seed phrases, or gas fees
  • ✅ UAE VAT Compliant - Automatic 5% VAT calculation & reporting
  • ✅ Arabic + English - Bilingual interface with RTL design
  • ✅ QR Code Payments - Familiar scan-to-pay UX
The Value Proposition:
For a typical Dubai restaurant processing AED 500K monthly ($136K USD):
  • Current Cost: AED 15,000/year in card fees + 3-day settlement
  • With PolygonPay: AED 2,500/year + instant settlement
  • Savings: AED 12,500 annually + dramatically improved cash flow
Multiply this across 127,000 SMBs = $1.6 billion annual savings market
How It Works
3 Simple Steps
For Merchants: 5-Minute Onboarding
Sign Up (2 minutes)
  • Web dashboard signup with email
  • Polygon ID verification (KYB)
  • UAE VAT number registration
  • ✅ Approved and ready to accept payments
Generate QR Code (1 minute)
  • Create payment QR code
  • Print on table tents/menus
  • Or display on tablet at checkout
  • ✅ Customers can now pay with crypto
Receive Payments (Instant)
  • Customer scans QR → pays with USDC/USDT
  • Payment settles in <0.4 seconds
  • Merchant receives crypto or auto-converts to AED
  • ✅ Automatic VAT reporting, zero manual work
For Customers: Scan, Connect, Pay
01
Scan merchant QR code
02
Connect wallet (MetaMask, Trust Wallet, 300+ options)
03
Confirm payment
04
Instant receipt

Total Time: <30 seconds
Product Demo
Live Screenshots
Customer Payment Flow
[Screenshot: Payment Page]
  • Clean, modern UI
  • Amount input with AED conversion
(1 USD = 3.67 AED)
  • USDC/USDT token selection
  • Fee breakdown (0.4% platform fee)
  • WalletConnect integration
  • Real-time transaction status
Merchant Dashboard
[Screenshot: Dashboard]
  • Today/Week/Month analytics
  • Real-time payment feed
  • QR code generator
  • Settlement balance tracking
  • Downloadable reports for VAT filing
Built with Next.js 15, TypeScript, TailwindCSS, Wagmi, Viem
Technology Stack
Production-Ready
Smart Contracts (Polygon PoS)
PaymentProcessor.sol
  • Processes payments with 0.4% fee deduction
  • Instant merchant settlement
  • Upgradeable via UUPS proxy
  • OpenZeppelin security standards
MerchantRegistry.sol
  • Merchant KYB with Polygon ID
  • UAE VAT number tracking
  • Transaction volume analytics
FeeManager.sol
  • Platform fee collection
  • Multi-sig treasury (Gnosis Safe)
  • Automated withdrawal
Frontend Stack
Next.js 15
React framework with App Router
Wagmi v2
React hooks for Ethereum
WalletConnect v2
Wallet connectivity (300+ wallets)
Biconomy SDK
Account Abstraction (gasless transactions)
The Graph
Real-time blockchain indexing
Deployment: Vercel (frontend) + Polygon PoS (contracts)
Competitive Landscape
PolygonPay vs. The Competition
Our Unfair Advantages
Polygon-Native
1/1000th the cost of Ethereum L1
Dubai-First
Arabic, VAT, AED from day one
Stripe UX
Zero crypto knowledge required
Hadron Ecosystem
Direct access to Polygon Labs, John Egan mentorship
First-Mover
No serious Dubai-focused competitor yet
Business Model
Multiple Revenue Streams
Revenue Model
1
Primary Revenue: Transaction Fees (0.4%)
  • Merchant processes $100 → We earn $0.40
  • Target: $3M monthly GMV by month 12 → $144K annual revenue
2
Enterprise White-Label ($5K-15K/year)
  • Large retailers (Majid Al Futtaim, Emaar Malls)
  • Custom branding, advanced analytics
  • Target: 5 enterprise clients by month 12 = $60K
3
Premium Merchant Subscriptions ($99/month)
  • Advanced analytics dashboard
  • Priority support
  • Lower fees (0.3%)
  • Target: 50 premium merchants = $60K annually
4
Remittance Platform (0.5% fee)
  • Dubai expats send $45B annually in remittances
  • PolygonPay infrastructure enables P2P stablecoin transfers
  • Target: $5M remittance volume = $25K annually
Total Year 1 Revenue: $289K
(prioritizing growth over profitability)
Unit Economics
Path to Profitability
Sample Transaction Breakdown
Customer pays 100 USDC:
  • Platform fee (0.4%): 0.40 USDC → PolygonPay revenue
  • Polygon network fee: $0.001 → PolygonPay pays (gas sponsorship)
  • Merchant receives: 99.60 USDC - $0.001 = 99.599 USDC
Gross Margin: 99.75% (after gas costs)
Cost Structure (Month 12)
Revenue: $289K
Costs:
  • Team (8 people): $60K/month = $720K/year
  • Infrastructure (Alchemy, Vercel): $5K/month = $60K/year
  • Marketing & Sales: $10K/month = $120K/year
  • Legal & Compliance (VARA): $50K one-time
  • Total Costs: $950K
Path to Profitability:
Month 18-20 at $10M monthly GMV
LTV/CAC Analysis
$7,200
Customer Lifetime Value (Merchant)
  • Average merchant processes $50K/month
  • Platform fee: $200/month
  • Average merchant lifetime: 36 months
$500
Customer Acquisition Cost
  • Sales BD salary: $4K/month → 10 merchants/month = $400/merchant
  • Marketing spend: $100/merchant
LTV/CAC Ratio: 14.4:1
(Excellent - target is >3:1)
Go-to-Market Strategy
Our phased approach targets high-tourist zones in Dubai, expanding regionally to capture the Middle East's crypto-ready merchant ecosystem.
Phase 1: Pilot Launch
Week 3-5 - Current
Target
10-15 early adopter merchants in high-tourist zones
Geographic Focus:
  • Dubai Mall area (127 F&B establishments within 2km)
  • JBR (Jumeirah Beach Residence)
  • Downtown Dubai (Burj Khalifa area)
  • Dubai Marina
Merchant Profiles:
  • Specialty coffee shops
  • Boutique restaurants
  • Electronics retailers
  • Tourism experiences (desert safaris, yacht rentals)
Acquisition Channels:
  • Direct outreach (Hadron ecosystem connections)
  • Merchant community events
  • Trade shows (GITEX, TOKEN2049)
  • Word-of-mouth referral program (AED 500 credit per referral)
Phase 2: Market Expansion
Months 2-4
Target: 50 total merchants across Dubai
Tactics:
  • Hire Arabic-speaking BD lead (Dubai SMB connections)
  • "Crypto-Friendly Zone" signage for early adopter clusters
  • Tourist guides directing crypto holders to PolygonPay merchants
  • Co-marketing with Polygon Foundation
Phase 3: Regional Expansion
Months 5-12
Geographic Expansion
  • Abu Dhabi (75 merchants)
  • Saudi Arabia - Riyadh, Jeddah (50 merchants)
  • Bahrain - Manama (25 merchants)
Product Expansion
  • E-commerce plugins (Shopify, WooCommerce)
  • Remittance platform (leverage existing merchant network as cash-out points)
Target: 500 merchants, $3M monthly GMV by month 12
Traction & Milestones
What We've Built (Week 1-2)
✅ Smart Contracts Deployed
  • 3 production-ready Solidity contracts
  • Comprehensive test suite (8+ test scenarios)
  • Upgradeable architecture (UUPS proxies)
✅ Frontend Application
  • Complete customer payment flow
  • Merchant dashboard with analytics
  • QR code generation system
  • WalletConnect v2 integration (300+ wallets)
✅ Infrastructure
  • Polygon PoS mainnet/testnet configuration
  • USDC/USDT support
  • Real-time transaction monitoring
  • Type-safe blockchain interactions
Next 5 Weeks (Accelerator Timeline)
Week 3: Account Abstraction + UX Refinement
  • Biconomy SDK integration (gasless transactions)
  • Arabic/English i18n with RTL support
  • Polygon ID merchant KYB
Week 4: Pilot Merchant Recruitment
  • 10-15 merchant signups
  • QR code table tents deployed
  • Merchant training sessions
Week 5: Beta Launch + Demo Day
  • Go live with real transactions
  • Target: $10K+ processed volume
  • Demo Day pitch to investors
  • Security audit initiation
Team - Built to Win
Kamal Nayan Singh - Founder & Lead Developer
Why I Can Execute This:
🏆 50+ Global Hackathon Victories
  • ETHINDIA-22 Winner (Polygon ID Track)
  • Polygon DevX, Archway, Celestia, Lambda Hack Brussels
  • Proven ability to ship exceptional products under extreme pressure
💻 6+ Years Blockchain Development
  • PolyEstate (ETHINDIA-22): Real estate platform with Circle USDC payments + Polygon ID KYC
  • Gas Protocol: Gasless transactions using Safe Account Abstraction on Polygon
  • Liquidity Manager: Cross-chain DeFi ($100K+ test volume on Polygon, Base, Arbitrum)
  • Vocal Trading with AI: Multilingual voice trading (10+ languages) - directly informs PolygonPay's Arabic/English interface
Technical Expertise & Execution Velocity
Technical Expertise
  • Advanced Solidity (audited contracts across 10+ chains)
  • Account Abstraction (ERC-4337, Safe AA, Biconomy)
  • Cross-chain protocols (Chainlink CCIP, LayerZero)
  • Payment infrastructure (Stripe API, stablecoin rails)
Execution Velocity
  • Ships production apps in 48-72 hour sprints
  • Open-source code used in Nigeria, Brazil, Indonesia
  • Transitioning to full-time on PolygonPay
Advisors & Support
🤝 Hadron Accelerator
  • John Egan (former Stripe CPO) - Payment expertise
  • Polygon Labs engineering team - Technical support
  • Dubai ecosystem access - Merchant intros
Planned Hires (Post-Funding):
  • Business Development Lead (Arabic-speaking, Dubai SMB connections)
  • Full-Stack Engineer (scale merchant dashboard)
  • Compliance Officer (VARA VASP licensing)
Roadmap - 12-Month Journey
1
Accelerator Phase (Week 1-5) ✅ IN PROGRESS
Week 1-2 ✅ COMPLETE
  • Smart contract deployment
  • Frontend MVP
  • WalletConnect integration
Week 3-4 🔄 CURRENT
  • Account Abstraction (gasless)
  • Arabic/English i18n
  • Pilot merchant recruitment (10-15)
Week 5 📍 UPCOMING
  • Beta launch
  • Demo Day
  • Security audit
  • Pre-seed fundraising ($500K)
2
Growth Phase (Months 2-6)
Month 2-3: Dubai Market Depth
  • 50 total merchants
  • $150K monthly GMV
  • Mobile POS app (iOS/Android)
  • VARA VASP licensing application
Month 4-6: Regional Expansion
  • Abu Dhabi, Saudi Arabia, Bahrain (150 total merchants)
  • E-commerce plugins (Shopify, WooCommerce)
  • Remittance platform launch
  • $750K monthly GMV
3
Scale Phase (Months 7-12)
Month 7-9: API Platform
  • Developer API for third-party integrations
  • Merchant marketplace ("Find crypto-accepting businesses")
  • 300 total merchants
  • $2M monthly GMV
Month 10-12: Market Leadership
  • 500 merchants across Middle East
  • $3M monthly GMV
  • Series A fundraising ($3-5M)
  • #1 crypto payment processor in region by merchant count
Financial Projections
12-Month Revenue Model
$10M+
Total Year 1 GMV
$289K
Total Year 1 Revenue (transaction fees + enterprise + subscriptions + remittances)
Path to $100M GMV (24-30 Months)
Target: 2,000 merchants @ $50K average monthly GMV each
$100M
Monthly GMV
$400K
Monthly revenue (0.4%)
$4.8M
Annual revenue
Unit Economics at Scale:
Gross margin: 99%+ (minimal infrastructure costs)
Net margin: 60%+ (after team, sales, ops)
Annual profit: $2.9M

Valuation Potential: $25-50M (10-20x revenue multiple for fintech SaaS)
Investment Highlights
🚀 High Growth Market: Dubai crypto adoption 34% (3rd globally)
💰 Massive TAM: $1.6B merchant savings + $45B remittances
🏆 Proven Founder: 50+ hackathon wins, 6 years blockchain dev
🤝 Ecosystem Support: Hadron Accelerator, Polygon Labs backing
⚡ Fast Execution: Production MVP in 2 weeks
📊 Strong Unit Economics: LTV/CAC 14:1, 99% gross margins
🛡️ Defensible Moat: First-mover, VARA licensing, network effects
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