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Click2Pay

Online Payment Gateway and Services

UAE
Market: Financial services
Stage of the project: Operating business

Date of last change: 03.08.2020
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Idea

One stop for all online payment solutions for companies (payment gateway, links, dashboard, auto invoice etc) and customers (installment, transfers etc)

Current Status

in six months operations:
* 50+ Paying merchants using the platform
* Contracts with government sectors
* MOU with multiple government sectors and a Bank (Bank in progress)
* +300% growth Q2 comparing to Q1 ($40k AED transactions Q1 to +$140K transactions Q2)
* +150% month on month growth on number of merchants (B2B)

Market

* UAE Market
* GCC & MENA market on expansion

Problem or Opportunity

* SME's find it very difficult to sign up with a payment service provider, once they do there is a high transaction %
* Average of two weeks activations (we do same day activation)
* Complicated Dashboards and payments management (fraud cases, charge backs etc etc) >> we take care of managing this for our merchants
* On Demand payment solutions (only pay for what you need) no set-up or processing or maintenance fees is out advantage and proven by actual growth since January 2020

Solution (product or service)

* Access to over 15 payment methods (including ApplePay and GooglePay)
* E-invoicing and E-receipts
* Added value services such as fraud management, TAX management and free general business and growth consultancy
* SME loans with no bank or unnecessary long process to help SME's with their utility payments, insurance and even Employees 10% to 20% advance on salary

Competitors

My Fatoora
Foloosi
Zbooni
Payfort
Telr
no disclosed numbers on market share yet

Advantages or differentiators

1. We're the only platform that gives you the option to pay only for the payment services you need.
2. Competitors offer complete bulk services for a heavy set-up fees or monthly subscription or advanced yearly maintenance fees
3. We are the only platform among our competitors that has SME's Credit Line option
4. Flexibility on funds transfer and withdrawals

Finance

* 0.5% of total transactions (grow to 1.5% in year 2)
* 50 AED (17$) per transfer / withdrawal
* One time joining fee of $150, yearly renewal $150
* Integration charges (400$)
* 5% to 10% processing fees on SME loans
* $100 yearly per additional payment service (ex API licensing, payment links etc etc)


Business model

* On demand payment solutions, pay only for the services you need, ex (payment links + API's) or (recurring payments + Auto invoicing systems) etc
* Business loans for SME's (short term loans, max $5k paid back in 3-6 months) up to 5% Processing Fees

Money will be spent on

* 40% Hiring (Tech, Sales and Marketing and Account Managers)
* 30% Marketing and content creation
* 30% Cash reserve

Offer for investor

* Our valuation is $2m based on:
1. Market size and funds raised by Fintech in the region
2. Our product in whole VS what's available in the market
3. Founders and Team Members
4. Partners and Clients (both government and privet sector)
* Our Offer is convertible notes transferrable based on Series A Fundraising (20% discount)

Team or Management

Risks

* Any loan have a risk % of defaulters, we manage this risk by shortening the period of repayment and limiting the plans into minimum funds ($5K)
* Big players in the market, however we counter that by two points:
1. Tech innovation and partnerships by keep on innovating and adding to our product along signing exclusive deals with Free zones and business formation companies
2. Our Founders, team and approach to business

Incubation/Acceleration programs accomplishment

no

Won the competition and other awards

no

Photos

Photo 1 - Online Payment Gateway and Services
Photo 2 - Online Payment Gateway and Services
Photo 3 - Online Payment Gateway and Services
Photo 4 - Online Payment Gateway and Services
Photo 5 - Online Payment Gateway and Services

Product Video

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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
Presentation