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Payd
- 1. Pay Student Loans With Spare Change www.gopayd.com
- 3. 40,000,000 Americans owe student loans Fastest growing debt in the U.S. $1,200,000,000,000 owed
- 5. Paying student debt is hard College graduates struggle to manage money 5,000,000 are behind on payments
- 6. What is the solution?
- 7. Round up transactions User-specific plans Estimate loan duration All of your loans, one place. A mobile application that gives users the tools they need:
- 8. The Product…
- 9. • We round your transactions up to the nearest dollar amount • At the end of the month, we apply the accrued amount to your student loan principle • Users can decide on auto, or manual round ups Round it Up.
- 10. • Tell us what you want, and select the plan that is right for you • We track everything in one place and give you the data that matters Your Plan, Your Way
- 11. • Visualize your repayment duration and make it happen • The estimator shows users their exact duration based on their average monthly contributions Make it Happen
- 12. • Never log on to a student loan website again • We track everything in one place and give you the data that matters All of Your Loans, One Place.
- 13. Business Model
- 14. Lead Generations: non- invasive, user specific Free to download: small fee per month $1 Per user, per month + Avg per user, per year $20 350K X $32 = $11.2M Users Per User Annually Revenue by year 2018
- 15. Market Adoption Partnerships Partner with major retailers and merchants that already offer cash back percentages applicable to student loan repayment University Collaboration Connect with universities and obtain alumni email registries and work with alumni associations aimed at student repayment Corporate Alliance Work with corporations whose employees have student loans, who offer special programs and rewards geared towards student loan repayment
- 16. Competition • Desktop based, no mobile app • No flexibility: user’s can pay loans as they would through loan provider; i.e. Sallie Mae. • Little incentive to switch from loan provider Loan Hero Mint • Swiss Army Knife of personal finance: not focused solely on student loans • Lack of tools focused specifically on student loan repayment • Little value added as opposed to paying through loan provider
- 17. Competitive Advantage Incentive Round up transactions, loan aggregation and payment functionality provide the incentive to switch. First to Mobile Payd is the first third party mobile application aimed explicitly at student loan repayment. Ease of Use Signing up is easy, within seconds, users can set their goals, estimate their duration and begin making payments. Brand Our design and branding, strategically distinctive from loan providers, adds appeal and attractiveness to the user experience. Domain Since we are the customer, we have domain expertise. We know what our users want and like in a way that the competition does not. Distribution Because we are purely mobile, targeting users via mobile advertising, makes downloading our app as simple as clicking a button.