Photo - ZuumPay
play_arrow
View
50298

ZuumPay

Global peer-2-peer cross border mobile and online payment.

USA, New York
Market: Financial services
Stage of the project: Prototype or product is ready

Date of last change: 19.11.2020
Rating
equalizer from 2000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:
Also this project:
- is seeking a loan

Idea

Imagine being able to access your money in any currency from anywhere in the world across multiple sources (bank, credit cards, PayPal, bitcoin, etc) and you will be able to spend it anywhere with any local system and currency at no extra charge?.
No cards, no bank accounts, no code failing a single financial tool that gives you full control of your finances anytime you want.

Current Status

Developed prototype with final product in development

Market

We are targeting clients of age demovraphi between 16 - 25 and 26 - 50 operating mostly in open areas and regions with both internet accessibility and high consumption.

From peer-2-peer payments to B2C and B2B payment processing we are trying an active market demographic across Africa, UAE, UK, USA, and Canada

Problem or Opportunity

Lack of digital mobile payment solution.
More than 140 mobile money service with limited digital transactions/ cross border services
Less than 1/5th Africans own a major credit card
Inability to access and process payments from international markets

A single financial tool that allows our customers to access money from multiple sources and spend in with anyone in real time.

Solution (product or service)

With a single app ZuumPay, you can access all your money from multiple sources in a single point and spend it with anyone anywhere in the world with their local solutions and currencies.

Competitors

The major competitor is the gsma mobile money in Africa which is presently the go-to financial tool, paystack and flutawave for card online payments.

Advantages or differentiators

ZuumPay is the world's first mobile payment aggregator. Our clients can manage multiple options in our system without worry from mobile money, all their cards, PayPal etc without any limitation
A cross border peer-to-peer mobile payment tool breaks through the present local options
Global access and spending option surpasses any other options in the market today
Allows spending in all fait, digital and tokenized currencies in real time to the recipients desired option

Finance

Our revenue streams come from subscription and commsion models expecting $2.7 million in the first year to over half a billion by our third year.
Sales and rentals of our hardware POS systems and payment tools.

Business model

We are working on securing key partnerships with banking and mobile money providers, marketing agencies and top security enterprises.
Building a mobile first service, we will use social media marketing, SEO and Google ads to reach targeted market audiences

Money will be spent on

Technology and development
Legal and licenses
Marketing and sales

Offer for investor

17% equity stake

Team or Management

Risks

Lack of resources
Our competitors have the resources to learn and even adapt to our product offers in the new future
Lack of financial licenses and permits might hinder the VP of the product

Incubation/Acceleration programs accomplishment

We haven't participated in any yet

Won the competition and other awards

Normitnated for 2 award result pending, won 3rd place in unicorn battle startup for Africa region

Photos

Photo 1 - Global peer-2-peer cross border mobile and online payment.

Product Video

5,00
1
2
3
4
5
1 voice
Sign in/Sign up
arrow_back
EN
more_horiz
close
visibility109
star0
Add to favorites
Delete from favorites
share
close
thumb_up0
Like
Unlike
Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video