Problem: 2 Billion people indeveloping countries No credit swiping solution!
India920 Million Mobile Phones 250 Million Android Phones
Solution:1 Android App.1 Mobile Swipe.1 Solution.Circle Plus.
The Mission:“Empower merchants in developing countries with a simple, secure, and economical mobile payment service that operates worldwide.”
The Circle Plus Difference Circle Plus Square Incumbent PlayersSwiped Pricing 2.7% per swipe 2.75% per swipe 2.75% + 0.30 per swipeManual Pricing 3.49% 3.5% + 0.15 3.5% + 0.30Card Reader FREE FREE $180+Monthly Fee None None $25+Termination Fee None None $295+NFC and Netswipe YES No No
Circle Plus combines an Android app with a free reader, allowing merchants to type in charges and accept credit payments in 2 easy steps!
Payments done your way!Circular swiper to swipe cards.Photograph card to pay.Input the credit card number.Secured end to end using SSL.Circle Plus.
Security you can trust!PCI-DSS Level 1SSL Secured end to end.No data stored on handset.128-bit encryption or better.Security expert on staff.Circle Plus.
Large Growing Indian Market280 Million Debit cards.18 Million Credit cards. (TechCrunch, 2011)1.2 Billion Indian Citizens.1 Solution.Circle Plus.
Future of Mobile PaymentsAccording to Payment Eye,mobile payments are expectedto eclipse 1.3 TRILLION by 2017!Small merchants are the futureof mobile payments!Empower them! Circle Plus!
Growing Indian Market India continues to gain users every year.SOURCE: http://gigaom.com/2010/10/12/android-to-add-next-500m-mobile-web-users-in-india/
Growing African Market Even developing countries such as Africa are candidates for mobile payment systems! Circle Plus Payments for all!SOURCE: http://www.roycefunds.com/news/global/2012/0125-africa-opportunities-challenges-growing-economy.asp
How Circle Plus will win!- Sell directly to merchants in major cities using a network of interns and evangelists.- Go viral using all forms of social media.- Advertise both online and through prime time media.- Develop an easy to use website for all merchants
The TeamNitish Kannan Tony DieppaCEO of Circle Plus Payments Android Expert at Circle Plus Payments B.S. Biomedical Sciences at University of South B.A. in Psychology at University of South Florida Florida B.S.C.S at University of South Florida Harvard College Developer Neurobiology Systems Engineer - Syniverse Technologies Genetics 5+ years of Development Experience Researcher in Brain Machine interface Android Developer technology P300 typing system and gadget Entrepreneur operator Winner of Startup Weekend Gainesville 2012 Masters of Entrepreneurship Student at UFFounder Participant in 3 Day Startup Gainesville 2012 www.techdimwit.com
The Team Satheesh SudarsanCo-founder of Circle Plus Payments and Head of Marketing• Accomplished Mobile/Cloud Software and Semiconductor industry executive with 15 years of experience with Product management, ProductMarketing, Business development and Engineering background.• Operational executive who enjoys building a winning team culture and processes, fostering innovation and delivering customer-centricsolutions. Managed direct and cross functional teams of up to 120 with product management, engineering and marketing.• Launched Industry’s first x86 Plug-in BIOS Enterprise software platform and transformed BIOS business strategy into an application & servicesbased business. Led the business scaling and acquisition of two software businesses in Mobile Virtualization OS and Mobile Security-as-a Servicesoftware within 18 months.• Launched and scaled Intel Atom® Tablet/Smartphone platform for incremental P&L revenues of $500MM. Founded and built Intel’s firstproduct management and engineering team for Ultra-Mobile Business.• Product strategy and business vision spokesperson to internal and external constituents at various venues including executive management,industry events, analysts, partners, customers, and media events.• Expertise in development of strong partner ecosystems & strategic alliances with market leaders like Microsoft, Intel, AMD, ARM, Samsung,EMC, Qualcomm, Orange France Telecom, Google and Verizon.
The TeamRalph Hoelfelmeyer Umesh Maheshwari CISSP-ISSAP, CRISC Board Member of Circle Plus PaymentsCTO and Security Lead Co-Founder and CTO of Nimble Storage November 2007 – PresentDell SecureWorks Principal Security Consultant Member of Research Staff (April 2012-Present) STAR Lab, InterTrustSESC – Contractor to Verizon September 1997 – January 2001 (2009-Dec 2011) Principal Engineer (Zambeel)Security QA Engineer (Verizon) January 2001 – March 2003 (2005 – 2008)Service Architect (Frontier Technology) Technical Director of Data Domain (2003 to 2005) March 2003 – November 2007
Moving Forward- Q4 2012 through Q2 2013- Develop initial version of Circle Plus system (Android + iOS)- Assemble team of developers, banking experts, and legal expertise.
The Pilot- 6 months following initial development.- 200 merchants in Chennai, India.- 100,000 Circle Plus readers deployed during first year.- Anticipated 600 million to 1 billion in transactions during the pilot.
Continuing Operations After the Pilot- 10 to 15 employees (4 – 6 developers).- Foreign call center for customer support.- Hiring talent for international banking expertise.
Sales1% of the entire mobile payments market. 600 million in payments processed. 6 million in revenue in our first year.