Photo - Wall ID
59613

Wall ID

Open Bank ID Express checkout

United Kingdom
Market: Financial services
Stage of the project: Prototype or product is ready

Date of last change: 19.10.2023
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equalizer from 2000
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Idea

1-click checkout & check-in does not exist in Travel although very popular in E-commerce. We aggregate ID verification from ID wallets & open banking to process full checkout data in 1 click

Current Status

Paid MVP Pilots on Shopify.
Approved by Shopify and WooCommerce.

Market

Business and corporate travelers account for 12% of all travels but contribute up to 75% of airlines profits.
60% of global travel market is in the US.
Therefore we focus on business and corporate travelers in the US as a primary market.

Problem or Opportunity

Customers prefer 1-click checkout in E-commerce, 1 click payments. But it doesn't yet possible in Travel. Travel has complex checkouts, check ins, always require ID data processing. Data privacy rules are different by country, difficult to store and comply and avoid breaches.
Cart abandonment and conversions in Travel are the worst across online services, 60% of visitors are "new" and need to fill in full checkout.

Solution (product or service)

Decentralised verifiable credentials in a form of digital wallet allow frequent business travelers to process ID data and payment in 1-click and exclude completely checkout and check-in forms. 1-click Travel.
Decentralized management of ID simplifies data privacy compliance and reduce business costs of storage and data security vs centralized storages.
Convenience, simplicity and ID data privacy is important for frequent business and corporate travelers.

Competitors

TravelPerks
Selfbook
most of competitors are Web2 , with centralized personal data processing and web2 tech legacy.

Advantages or differentiators

Experienced team in Ecommerce and online travel incl advisors.
Web3 tech structure at core with focus on simplicity for checkout and check in.

Finance

Corporate & SME: 5% transaction commission.
Individual travelers: 3% commission.

Business model

Direct sales to medium and large corporations: 50%
Paid advertising to SMB: 30%
PR and travel events: 20%

Money will be spent on

Tech onboarding of 4X more B2B partners.

Offer for investor

350 k$ investment for 20% of equity at post-money evaluation

Team or Management

Risks

Large fintech players to get into the space with significant funding

Incubation/Acceleration programs accomplishment

Accomplished Antler UK accelerator

Won the competition and other awards

1st place in Startup battle.

Photos

Photo 1 - Open Bank ID Express checkout
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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