MON-TEXT

Well with the Economy (Nigerian Economy) entering into a cashless policy in the country, I want to develop a quick payment and money transfer software for local businesses in the country. This is something not done in the country before and would be solving a lot of problems for the citizens as well as the government

Well it is just in the idea stage. But having done a survey I believe this software would be generally accepted by majority of businesses in the country.

Well it's for every local businesses in the country and the users of local businesses is Nigeria is everyone in Nigeria, so I am creating a software that would be used by everyone in the country, (and subsequently through out Africa starting with west Africa)

This software is as big a business opportunity as it can get.
First Nigeria (and subsequently Africa) is becoming a very big market in the world, several companies like multi billion dollars companies like MTN, shell, Chevron etc has grown to these height investing in the Nigerian market
And I believe an opportunity to solve a problem in Nigeria is a billion dollar ideal move. With over 300 million people ready to make their finances work better, there can be no better time to create a plan like the MON-TEXT idea one that would potentially be solving over a 100 million people's daily challenges.

So MON-TEXT is
- Groundbreaking Fintech software designed to revolutionize the Nigerian economy's financial landscape
- Offers a seamless and secure digital payment solution tailored specifically for local businesses
- Key features include QR code scanning for quick and convenient fund transfers
- Text-based money transfers initiated through a simple message
- Instant transactions in real-time
- Digital wallet that acts as a cash substitute
- Facilitates the transition towards a cashless economy
- Ensures secure and reliable transactions
- Provides convenience for users
- Seamless integration into the existing financial ecosystem
- Unprecedented innovation in digital payments
- Addresses the urgent need for a reliable money transfer solution due to new cashless policies
- Offers speed and efficiency with swift transactions

The idea like I said before hasn't gotten a competitor. This is a new idea as far as Nigeria is concerned. We do have Fintech companies in Nigeria, but they all are online banks of crypto currencies platforms that do transfer. But none of them does these seem less transfers like I intend to create.

Africa is a market you want to invest in at the moment. With the people beginning to learn and are desperate to create a better life for themselves, I believe there is so much to gain in creating that life for them.
Now, What MON-TEXT aims to do is

- Addressing the Urgent Need for Reliable Money Transfer: With new cashless policies in place, there is an urgent need for a reliable money transfer solution, and Mon-Text addresses this need by offering secure and efficient fund transfer options.

- Speed and Efficiency: Mon-Text provides swift transactions, ensuring instant transactions in real-time, offering convenience and efficiency for users and businesses in Nigeria.

Well It is all indicated in the business plan I uploaded
I intend to take a fee of about N200 to deposit N10,000 in the software and move in that scale. transactions in the business would be absolutely free. And I will make sure that everyone by the end of the month, transfers their money back to their various banks and collect a transaction back fee of the same amount. Since my software is not an online bank but a transaction software.
I believe if I can get 2million people actively using this software and average a monthly cost of N400 in the next 1 year, that would be about 9.6 billion naira which is equivalent to $6.8million. This would mostly certainly be an absolute profit

Right now it would be spent firstly on
-Developing the software (which would be developed by either plavno development company or SDLC CORPS in England)
-marketing the software
-getting a standardized building and facilities for the operation of the software here in Nigeria

I intend to make my investor and nominal co-founder of MON-TEXT
and after a briefing with my legal team I believe it's appropriate the investor holds 20% rights to the company.

- Regulatory Challenges: Investing in Mon-Text may come with regulatory risks due to the evolving landscape of financial technology regulations in Nigeria. Changes in regulations or compliance requirements could impact the operations and growth potential of the platform.

Also there might be a little lack of enthusiasm over the acceptance of the software by a section of the country. Though I do have a marketing strategy I believe would be incline them towards the acceptance of the software

Well I have applied for funding in various places, I haven't really gotten to pitch to or speak with any investor or even venture capitalist. I believe it is because of the location my startup is focused on.
Africa especially Nigeria is not really appreciated around the world to invest in.

Nil

Patent is pending but it won't be long anymore