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- 1. At SinglePay, we have a vision of transforming Africa into a virtual society.SinglePay is an app that allows small traders to sell their pro accept payments via emails but we deliver the orders for them. This profits and most importantly, better living standards. Customers ca stores and pay via QR code’s. When the buyers see their product o buyer and see the real product and pay for it via SinglePay but payment to the seller until the customer confirms that they hav two measures make sure that the buyer does not buy the wrong p pay for their orders but the seller does not deliver them. These money on the SinglePay is free but we only charge a withdrawa money. This more 40 times cheaper than our competitors .Custo from chewing gum and ordering food,train tickets, taxis and even sp • What is SinglePay?
- 2. Market • Who is our target customer? • SinglePay targets all SMEs who have trouble reaching the bigger online market because they lack the resources they need to sell their products to the entire African market and even the bigger global online market thus they only sell to their neighborhoods . These include shop owners, kiosk owners, taxi drivers , hotel owners and any other individual merchants . These are approximately 7.41 million businesses in Kenya. • Other customers include individual online shoppers who want to shop online more fun and more secure. These are over 3 million people going with the number of online shopping scams in Kenya last year. • Others include also government bodies providing utility services such as electrify and water . • We also provide train bookings and bus bookings and in future plane bookings.
- 3. What makes us different? SinglePay is second to none. First we are almost 40 times cheaper than our competitors since we do not charge any fee for sending only charge a 0.5% fee for withdrawals. Secondly we offer features that no one else offers. First, we provide video shopping, where when the buyer sees a product they are they video call the seller and see the real product such as its color and size. They see the product and pay via SinglePay . When they pay, we do not transfer the payment to the seller, we track the order until the buyer confirms they have received thei the seller receives the payment. This protects the buyer from paying for products but the seller does not deliver them. Thirdly, we allow online mobile money transfer via mobile phone numbers and email addresses. We also allow offline physical shop via QR CODES .
- 4. Why we are viable • Why SinglePay? Online shopping in Kenya and Africa at large has been on the rise. This is because more people are buying smartphones and internet penetration has also been on the rise. The increase in online shopping has also led to increase to many fraudulent cases in online shopping where buyers pay for orders but the sellers do not deliver their orders. These cases reached over 3 million cases in Kenya alone last year. That is why SinglePay is here to solve these cases. To make online shopping more fun and most importantly more secure.
- 5. Plans to scale • Our pathway to unicorn status We plant to attract at least one million customers by the end of next year , through our innovations such as facial recognition payment feature. We will also start operations in South Africa and Nigeria and then expand to other African countries and India. We will also introduce more products such as our unmanned store chain called Ennjoy.
Editor's Notes
- At SinglePay, we have a vision of transforming Africa into a virtually cashless society.SinglePay is an app that allows small traders to sell their products online for free and accept payments via emails but we deliver the orders for them. This gives them more sales, more profits and most importantly, better living standards. Customers can also shop in their physical stores and pay via QR code’s. When the buyers see their product of interest, they video call the buyer and see the real product and pay for it via SinglePay but we don’t transfer the payment to the seller until the customer confirms that they have received their order. These two measures make sure that the buyer does not buy the wrong product and that they don’t pay for their orders but the seller does not deliver them. These prevent fraud. Sending money on the SinglePay is free but we only charge a withdrawal fee of 0.5% to withdraw money. This more 40 times cheaper than our competitors .Customers can pay for anything from chewing gum and ordering food,train tickets, taxis and even split bills in the hotel. They can also recharge their phone airtime , they can also pay for utilities such as electricity bills and water bills. Sellers can also advertise on the app. They can even hire a house help , a cleaner and even a gardener all, on this one app. We are currently doing a research that will allow our customers make payments for anything via facial recognition ,this will be ready by mid next year.
- SinglePay targets all SMEs who have trouble reaching the bigger online market because they lack the resources they need to sell their products to the entire African market and even the bigger global online market thus they only sell to their neighborhoods . These include shop owners, kiosk owners, taxi drivers , hotel owners and any other individual merchants . These are approximately 7.41 million businesses in Kenya. Other customers include individual online shoppers who want to shop online more fun and more secure. These are over 3 million people going with the number of online shopping scams in Kenya last year. Others include also government bodies providing utility services such as electrify and water . We also provide train bookings and bus bookings and in future plane bookings.
- SinglePay is second to none. First we are almost 40 times cheaper than our competitors since we do not charge any fee for sending money but we only charge a 0.5% fee for withdrawals. Secondly we offer features that no one else offers. First, we provide video shopping, where when the buyer sees a product they are interested in, they video call the seller and see the real product such as its color and size. They see the product and pay via SinglePay . When they pay, we do not transfer the payment to the seller, we track the order until the buyer confirms they have received their order then the seller receives the payment. This protects the buyer from paying for products but the seller does not deliver them. Thirdly, we allow online mobile money transfer via mobile phone numbers and email addresses. We also allow offline physical shopping payments via QR CODES .
- Online shopping in Kenya and Africa at large has been on the rise. This is because more people are buying smartphones and internet penetration has also been on the rise. The increase in online shopping has also led to increase to many fraudulent cases in online shopping where buyers pay for orders but the sellers do not deliver their orders. These cases reached over 3 million cases in Kenya alone last year. That is why SinglePay is here to solve these cases. To make online shopping more fun and most importantly more secure.
- We plant to attract at least one million customers by the end of next year , through our innovations such as facial recognition payment feature. We will also start operations in South Africa and Nigeria and then expand to other African countries and India. We will also introduce more products such as our unmanned store chain called Ennjoy.