Photo - Salute!
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Salute!

Voice messenger with zero-fees payments functions

Finland
Market: Internet and IT, Entertainment, Financial services, Blockchain, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 22.08.2021
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Idea

We reinvent mobile payments and allow merchants from 3% to 5% more profit with Salute!
Salute! is a push-2-talk voice messenger for drivers with provides a daily task solution - voice chat, technical assist, traffic info, and payments. Our superpower is in zero-fees payment solutions + useful services for drivers.

Current Status

We have completed the development of the messenger and gathered the first users.
Completed the development of a payment service prototype (IBM Fabric)

Market

First focus on drivers and EV charging infrastructure. There are a lot of regular purchases for small amounts, and the part of mobile payments is constantly growing.

Problem or Opportunity

The number of mobile payments is doubling from year to year. In a pandemic, this is the safest way to pay. But for payments for a small amount, the commission for acquiring can reach 5%. This is payment for fuel at the gas station, payment for the charge of EV, car wash, parking. We have found a way to greatly reduce the cost of making payments. This is a convenient way for both parties, integrates well with loyalty programs and existing payment applications.

Solution (product or service)

The solution is to keep purchase information on the blockchain instead of transferring money instantly. At the end of the reporting period, customers receive invoices for the total purchase amount from each merchant and pay them commission-free. It is convenient and familiar to many - like paying bills of mobile operators or energy companies. Bills are paid without commission

Competitors

Traditional payment methods

Advantages or differentiators

Our solution is cheaper and has a strong marketing potential: user retention and the ability to personalize offers based on monthly results. Our client will definitely see the special offer because he will pay invoice

Finance

We sell a subscription to access the service. The price is determined based on the industry and the number of transactions per month

Business model

In a nutshell. The average charge for an electric car is 10 euros. Of these, about 0.5 euros is a commission for the operation. We will charge a subscription of € 500 for 10,000 transactions per month. The seller will save 4500 euros. The processes of registering and sending electronic invoices are fully automated

Money will be spent on

Migration to IBM Fabric cloud
Marketing
Release iOs app

Offer for investor

30%

Team or Management

Risks

The reluctance of companies to integrate a new payment instrument into their application. The unwillingness of companies to use our messenger Salute for payment

Incubation/Acceleration programs accomplishment

Ericsson 5g - for voice messenger functionality

Won the competition and other awards

Business Finland startup program

Photos

Photo 1 - Voice messenger with zero-fees payments functions

Product Video

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2 voices
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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