SelfPay — Bridging the gap between traditional payments and cryptocurrency
The sequence and attributions attached to payment processes is an invisible element that has challenged the traditional financial system and its navigates deeply into the approach it uses as a centralized system function. This is the norm that SelfPay has come to change and innovate in a unique way.
Believing that the main problem for sellers and merchants to accept a cryptocurrency is both change resistance as well as core technology issues, they are proposing an innovative mixed solution with a clear update path to bring sellers to accept any cryptocurrency, anywhere, any time. Giving crypto reward for each transaction help to demystify the crypto currencies across merchants and give them a real incentive to use their solution. Their point of sale, can accept both credit card and cryptocurrency. 20% of each transaction fee are given to the merchants and/or the customers in SxP tokens and 40% are transferred to SelfPay SxP token masternodes.
Instead of trying to force the buyer to use another mobile application or even a wallet application, the buyer’s application is a Web app that does not require any installation. It is built to be mobile friendly and to use the latest HTML and CSS technologies to provide a responsive and real-time transaction feedback. It automatically opens when you scan a QR code or when you follow the link sent from the seller via SMS or chat.
1. The customer receives a link by SMS
2. This link opens a page that lets the customer enter his credit card information
3. The customer receives an SMS once the payment is confirmed
The SxP token will evolve over time, starting from being an ERC20 token to finally migrate to its own blockchain, thus enabling a lot more core features and providing an enormous flexibility in terms of possible applications.
Once the SxP token has been migrated from the Ethereum blockchain to the SelfPay blockchain, you can use the SxP token on the platform, spending it with merchants that supports SxP or for private buyer/seller transactions, you can sell the coin on exchanges, privately, or just hold it for future use. The key difference with all other tokens is that it has a business model behind it. A payment system that enables you to use the coin and spend it independently and a system that grows in synergy with the SxP token. Moreover, using the SelfPay token on the payment platform will have its additional benefits to further stimulate its growth.
Company Value Proposition
An Existing Product: Company product already exists (released in 2016) and is ready to be marketed and spread across South East Asia. Selfpay have a clear roadmap to ensure a product market fit at each step (offline seller to online merchants)
Applying Existing Technology: Company is building on top of other existing technologies such as using payment aggregators instead of setting up Selfpay own payment gateway which is time-consuming. the company’s leveraging the Ethereum blockchain technology to bring cryptocurrency transaction to small and medium businesses.
The Right Place: Company is targeting South East Asia first — as an Asian based team and company, Selfpay know that our product is answering the local payment needs. Typically SelfPay enables the critical step of entering credit card information, to be performed on the buyer’s device, helping to build up the trust that is needed in transactions in Asia.
The executive team
Julien Chalté — CEO
Julien has been a serial entrepreneur for 15 years. After his first business providing services for Webmasters, he started working closely with French TV celebrities before moving to Thailand where he cofounded one of the first fashion & beauty marketplaces called WearYouWant. Established in 2011, WearYouWant is one of the first startups in Thailand to have ever successfully raised a Series B funding round. Later on, in 2017, after being Head of eCommerce at LINE Thailand for almost a year to have one foot in the corporate world, he changed industry and co-founded Belaws with Vincent Birot, thus pioneering legal services marketplaces in Thailand.
Raphaël Tant — CTO
Working within the financial sector for the last 10 years, from Paris to Hong Kong and then to Singapore, Raphaël set up direct market access to the major stock exchanges in Asia (HKSE, HKFE, TSE, OSE) using FIX and exchange proprietary protocol, driving major projects for Natixis and Royal Bank of Scotland. Working from the front office to the back office including settlement, he is experienced in automated trading (Arbitrage — statsArb) and most of the financial instruments used on the financial market. His financial knowledge, his IT expertise combined with his extensive network will no doubt be instrumental to SelfPay’s success.
Vincent Birot — Vice President Business Legal Affairs
Vincent is a lawyer and an entrepreneur. He holds a master degree in international business law from the University of Paris 1 Pantheon-Sorbonne, an LL.M in international commercial law from the University of Exeter and passed the Paris’ bar examination. Vincent started his career as an associate in the banking & finance department of Baker McKenzie where he advised clients on investment fund structuring. In South-East Asia, Vincent worked several years with a regional law firm focusing on emerging markets before launching the first legal service marketplace in Thailand with Julien Chalté. Particularly involved in the business communities, Vincent is a board member of the Franco-Thai Chamber of Commerce and a member of the steering committee of the French Tech Thailand.
Alexandre Borione — Senior Advisor
Alexandre is a trader and investor across asset classes, including stocks, bonds and crypto currencies. He has been in Hong Kong and Bangkok for more than 7 years, and started helping with capital raising via his extensive network. His career started in New York as a quant on the Credit Suisse trading floor, applying his Big Data and computer skills, acquired in the Physics PhD program at the University of Chicago, for derivatives pricing. He then moved to hedge funds and JP Morgan for proprietary trading. After living in 6 countries, he wants to help make payment and transfer solutions faster and cheaper, and is very keen on SelfPay’s success.
2016: SELFPAY IS BORN
After 2 man years of development, the first alpha version of SelfPay was released in mid-2016.This version was then iterated upon to work as a payment aggregator, and by the end of 2016, the new version was released incorporating aggregation functionalities and a new design. The release laid the groundwork enabling the product to work as a SasS (Software as a Service) to accept payments via different payment gateways.This version of SelfPay was alpha tested in two Southeast Asian countries using Omise (creator of the OMG token) and CyberSource (the parent organisation of VISA) as payment gateways.
Q1 2017: SELFPAY BEGINS BETA TESTING
Building on top of the existing product, version 2.0 of SelfPay begun a period of beta testing with a few selected trusted testing users.The payment aggregator functionalities became validated. Sellers could man age their own payments both offline and online with self-managed payment gateway keys and their own contracts with their preferred payment gateways.During that time, while the team was investigating new ways of funding SelfPay to maintain its growth, the ICO project began.During Q3 2017, the ICO project was officially launched.
Q2 2018: OFFICIAL PRODUCT RELEASE
Funds raised during the ICO are used to market the product across Southeast Asia. — Ether cash back and SxP retribution process are added to the application. — The SxP token is added to major cryptocurrency exchanges. — Sales teams are set up to market the product in Southeast Asia.
Q3 2018: EXPAND CUSTOMER BASE
- Customers are able to pay using bank accounts as well as credit cards (bank to bank payments). — Customers are able to pay using Alipay, representing 450 million potential Chinese customers. — The inventory used by each seller is used to create a marketplace, enabling offline sellers using our solution to have a new eCommerce channel provided for free. — Integrate SelfPay with remaining eCommerce platforms and shopping cart services (e.g. WordPress, PrestaShop, Magento, Wix, Weebly, Shopify).
Q4 2018: INTEGRATING THE BLOCKCHAIN
We offer the possibility to each seller to exchange their blockchain assets seamlessly from one user to another in a decentralized manner, removing any risks that is usually associated with current centralized solutions.Each seller will be able to send transactions between each other using the SelfPay system, thus providing a B2B solution.Crypto rewards can be received in any major cryptocurrency and ERC20 tokens, enabling sellers to manage a multi-cryptocurrency wallet of rewards.Since fees are taken from the token transacted in, the most popular tokens used accumulate to the distribution contract, helping the value backing SxP tokens.
Q1 2019: SETUP SELFPAY EXCHANGE
Any seller can be paid directly in any cryptocurrency, achieving the original target to bring cryptocurrencies seamlessly to any seller.Internal exchanges setup to optimize the cross-sell between the crypto rewards given to sellers and the rewards withdrawn by the merchants. Local exchanges are still being used to provide liquidity when needed.The product is then being consolidated to integrate other Web 3.0 functionnalities coming from other blockchain projects including OMG, OpenBazaar and weTrust.
https: / /www.facebook.com/selfpayico
Marko Vidrih @cryptomarks
@cryptomarks (@VidrihMarko) | Twitter
The latest Tweets from @cryptomarks (@VidrihMarko). Cryptocurrency trader, Researcher, Investor and Crypto enthusiast…
The latest posts from Marko Vidrih. Follow me at @cryptomarks. Crypto, Bitcoin, Blockchain
BitcoinTalk profile: https://bitcointalk.org/index.php?action=profile