Photo - Tappables
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Tappables

Family oriented payment solutions

Canada, Toronto
Market: Financial services, Gadgets , Crypto currency
Stage of the project: Prototype or product is ready

Date of last change: 21.07.2020
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Idea

Kids can "Tap" to pay at parent-approved locations using parental controlled payment devices.

Current Status

We have spent the last 2 years developing the technology, partnerships, ecosystem, infrastructure and application required to deliver this innovative and game-changing solution. We have manufacturing of the payment chips completed. We have the app ready to launch. We have the website and materials developed, and we are ready to go to market within 60 days of receiving the first round marketing and growth capital.

Market

2020 -21 - kids between the ages of 5 - 15 in North America, Australia and Europe
2022 - 24 - Global expansion beyond these territories to follow based on market opportunity.

Problem or Opportunity

1) There are no safe, secure, or educational payment solutions for kids between the ages of 5 - 15.
2) No banks have ever focused on a demographic below the age of 18.
3) Traditional cards were not designed for today's digital world. The future of payments will be tap enabled devices. This means phones, watches, wristbands, keychains, wearables, and a host of other yet to be invented "Tappables".

Solution (product or service)

Tappables are safe, secure, parental controlled (and funded) payment devices for kids 5-15 that teach kids the value of money and how to use it.

Tappables are family-oriented payment solutions. Kids between the ages of 5 - 15 can link their "Tappables" to their parent's accounts. Parents have full control over the tappable in terms of where they can be used when they can be used, and for how much they can be used for payments. Parents control a tappable through an innovative mobile application that leverages cutting edge processing technology and capability provided by Paywith Worldwide Inc. (another company founded by our founder)

Competitors

Go Henry, Spriggy, Current, Green Dot.

The above are all recent examples of simple "Prepaid Card" solutions that were developed with a more Youth focused market in mine. Each of these companies has emerged in different markets (UK, Australia, USA, Canada) over the past 3 years and each company has tapped into a huge untapped market of parental controlled payment solutions for teens and youth.
This validates the demand and interest from the market, but none of these
companies focused on a demographic below the age of 12 years old. As well, none of these companies went beyond the traditional "Card" construct and ventured into the IOT space.

The future of payments is "Tappable Devices" Tappables is going to lead the way as a global market leader by being first to market with a smart, fun, educational product for kids and youth that parents can really support.

Advantages or differentiators

Team, technology, know-how, access and opportunity.

Developing this type of technology innovation that leverages the payment ecosystem (VISA and MasterCard) and connects new hardware devices and form factors that require certification, personalization, compliance, technology, chip manufacturing and for factor integration... is a very unique and difficult suite of skills to acquire.

David Strebinger, our founder, has been developing payments innovations with Visa, MasterCard and leading banks and brands around the globe for the last 10 years. David is thought of as a thought leader and innovator amounts the leading fintech innovators in the industry today. David consults to many of the largest and fastest growing banks and brands in 3 countries on how to develop, design, create and implement new payment solutions and technologies that set the enterprises apart.

David founded this company because his two daughters (age 4 - 6) had no way of learning about the value, importance or power of money. He designed and created a fun and innovative way to teach his kids the value of money while increasing security and transforming payments.

Finance

Parents pay between $5 - $10 per month depending on the type of family sharing plan they are on.

Tappables (the devices) cost between $2.50 - $5.00 to manufacture and retail for $10 - $25 depending on the items. Larger margins are available on higher volumes.

Money will be spent on

Inventory, ramping staff, marketing, PR, business development and relationship building with channel partners, certifications, audits, accounting, legal.

Offer for investor

We are opening the door for a seed round investment of up to $750K USD for up to 16.5% of the company.

Team or Management

Risks

1) It doesn't catch on
2) Kids don't like the products
3) No parents want an alternative to giving their kids cash.
4) Other competitors with more capital do a better job of marketing
5) Our team does not execute successfully
6) COVID -19 keeps everyone indoors for years
7) A global economic meltdown
8) Aliens invade

Incubation/Acceleration programs accomplishment

We have not yet participated in any incubation or acceleration programs.

Won the competition and other awards

David has participated previously in various competitions and received numerous awards for financial technology innovation with other businesses he has developed.

For Tappables, the business has not been surfaced, nor presented to the public until this very report, so hopefully, this will spark an opportunity for the business to begin exploring different competitive growth initiatives.

Invention/Patent

We are in the process of filing a number of patents surrounding the way we have developed our chips to work with our processing engine.

Photos

Photo 1 - Family oriented payment solutions

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