RePay Africa Platform

RePay Africa, is a digital peer to peer transfer, remittance and merchant payment platform. We’re bridging the gap & providing a solution for financial inclusion challenge faced by the Africa continent. Our solution is designed for individual users, merchants & Agency services;

1. Peer to Peer transfer- RePay Mobile USSD & App for iOS & Android wallet, is meant for individual customer to enable them to load their wallet with cash.
2. Merchant Dashboard – This dashboard is to enable merchant to receive & track payments from their customers who uses the RePay wallet to pay at various outlets. A merchant is able to receive payment from any part of Africa and the transaction will be in real time.
3. RePay Agents – RePay will enable wider agency network across Africa continent where our mobile app users can deposit cash on their wallet or withdraw money received fom friends through RePay agents.

Financial inclusion continues to be a problem commercial banks are still not reaching people without bank accounts. There’s a big demand to digitize financial services through financial inclusion. There’s a need to have control as well as the ability to monitor our finances within the palm of our hands, gone are the days when one had to physically walk to their bank to withdraw money from their account, inquiring balances, among other services offered by financial institutions. Financial inclusion, world bank indicates that 1.7 Billion people are not financial included and majority are from Africa; https://www.worldbank.org/en/topic/financialinclusion/overview

We're working on www.repay.africa a peer to peer money transfer & remittance, merchant payment and agency enabled solution for Africa continent. Our solution RePay Africa Platform enable the unbaked to receive banking services without opening a bank accounts with local banks e.g receiving money, withdraw and paying bills etc. RePay enable youths and women get jobs on our agency program. Our solution will enable majority of rural and city dwellers to access financial services at their convenience.  Our solution will be implement in Africa and it has the capacity to be used globally to help other continents around the world be be financially included. 

Time has come for people from all walks of life to embrace mobile money payments and transfers. With RePay platform, even those who are considered not to be tech-savvy. RePay Platform peer to peer transfers, remittance, payments to merchants & agency services. Is targeting the Africa un-banked. Those are having problem receiving, sending & making payments because the don't have a bank account. We're making it easy for small businesses that doesn't have a bank account across Africa to receive payments hassle free in our RePay for merchant platform.

This dashboard is to enable merchant to receive & track payments from their customers who uses the RePay wallet to pay at various outlets. A merchant is able to receive payment from any part of Africa and the transaction will be in real time. Our merchant will have one solution to cater for their payments, instead of having multiple devices and accounts with banks & mobile money providers like cards & mobile money. Finally our Agency program will enable wider agency network across Africa continent where our mobile app users and merchant can deposit cash or withdraw money received or amount paid to their business through RePay agents.

RePay Africa, is a digital peer to peer transfer, remittance and merchant payment platform. We’re bridging the gap & providing solution for financial inclusion challenge faced by the Africa continent. Our solution is designed for individual users, merchants & Agency services. Our solution aligns with the mission through our mobile/online solution that enable to Africans to receive money while observing social distance and elevate their living standard without the need of having a bank account. Our platform maintain and authenticate individual users ID and can used by any service provider. 

RePay Platform an African wide payment & transfer platform that support online money transfer and bills payment to merchants, RePay platform serves as electronic alternative to cash, cheques & banks. The fact that our customers would want to manage their finances at their convenience, anytime and anywhere. The same way one would get money from their physical wallets or purses to meet a certain obligation. 

RePay merchant dashboard whereby the merchants are able to track payments for services rendered to their customers, this allows them to confirm payments in real time. Our dashboard is also able to have various users who are given specific roles e.g. sales, admin & accounts. Additionally, the merchant portal has the ability to maintain an audit trail for management use.

 RePay wallet on the other hand runs USSD on featured phones, android & iOS app for customers with smart phones enabling everyone to make payment and purchases from the merchants or send peer to peer. Our agency network allows our users to load money on their wallet and withdraw without the need of having a bank account, the just need to have RePay wallet app on their phone.

RePay Agents – RePay will enable wider agency network across Africa continent where our mobile app users can deposit cash on their wallet or withdraw money received from friends through RePay agents.

RePay merchant dashboard whereby the merchants are able to track payments for services rendered to their customers, this allows them to confirm payments in real time. Our dashboard is also able to have various users who are given specific roles e.g. sales, admin & accounts. Additionally, the merchant portal has the ability to maintain an audit trail for management use.

 RePay wallet on the other hand runs USSD on featured phones, android & iOS app for customers with smart phones enabling everyone to make payment and purchases from the merchants or send peer to peer. Our agency network allows our users to load money on their wallet and withdraw without the need of having a bank account, the just need to have RePay wallet app on their phone.

RePay Agents – RePay will enable wider agency network across Africa continent where our mobile app users can deposit cash on their wallet or withdraw money received from friends through RePay agents.

A large section of the Kenyan populace is currently able to use mobile phones to pay bills, transfer money, pay insurance premiums, borrow money, make account transfers, pay fees, make savings and purchase air time. In response, financial service providers are increasingly leveraging on mobile banking to increase accessibility and deliver services efficiently to a broad range of customers. Financial institutions have now integrated numerous mobile money services with mainstream banking services like account opening, making cash deposits, settling bills, among others, and are continually increasing the scope of mobile based transactions. The increased uptake of mobile money has seen an upsurge in competition marked by the launch of

diverse mobile money products among mobile money providers as they strive for a better grip of the lucrative retail payments market. Besides the mainstream mobile money services by the telecom firms, other firms have emerged to offer complementary services by partnering with the mobile firms in an arrangement that enables them to integrate mobile money platforms into their programs and offerings. The Lipa na M-Pesa service provided by Safaricom Ltd that enables customers or merchants to handle mobile payments at points of sale for services rendered or goods purchased has emerged as a very influential platform in this dimension. The primacy of mobile money within the Kenyan context lies in its sound capability to anchor multiple activities and processes that define mobile commerce. Existing mobile money services support a wide range of transactions including transfer of funds from one mobile subscriber to another, deposit and withdrawal of cash via a network of local agents, payment of utility bills, airtime top ups, ATM cash withdrawals, dividend pay outs, m-ticketing services, mobile shopping and cross country mobile money transfers. Being easily amenable to multiple innovations, mobile money technology eliminates the complexities associated with traditional options such as cash and banking cards, a situation that yields a fertile ground for mobile commerce to flourish. 

Our solution verify and authenticate our individual users through the app, when they create account we proceed forward to authenticate them by requiring the to give more information like age, ID/Passport number and copy of the passport or ID. This information provided are used to authenticate and validate the users. RePay can incorporate into digital identification systems, especially the vulnerable groups because our target users on our platform are the vulnerable, women, youth and the older generation in various countries.

Our platform has API that can easy provide Identification system required information or can used to verify individuals because our users and verified before allowed to send or receive cash within our platform.

Our Solution is API based architecture that can allow specific integration with other systems. for example our KYC module allows other systems to integrate directly allowing other systems to query information about specific customers this makes it easy compared to other system that will give all information that relates to the customers.

Our Solution runs runs on robust database that allows more than a million in queries. this allows third party applications/systems to integrate easily and reduces downtime because its able to handle various queries a second.

RePay platfom is cloud-base technology, this make it easy for integration in any country where the population is using our platform. this makes it easy to integrate with any system may it be KYC, Payment or fraud detection technology. 

Our Solution use open Standard API and the're no vendor lock-in, our API is public and can be access by anyone using internet. Our platform provide a secure sandbox for developers who wants to do integration with other platforms/systems easily by adhering to security and the required minimum deployment security. Our platform also uses open banking standards & API's, the core platform allows interoperability in various countries without any additional configurations needed. We generate revenue and customers through our API and thus the reason the're public to allow other online payments solution to access and use our platform, for example e-eCommerce website and restaurant using POS machine 

Our Mobile applications the USSD, Android & iOS has been developed with low latency connection. The USSD application can be used on any phone and doesn't require internet of heavy network. Our Mobile applications stores all data provided by individual users within the app, this allows the users to continue using our apps without internet and when it connects it automatically send the data provided while offline to relay servers. this allow offline usage functionality. Our platform uses simple language that is understandable to users and also uses symbols that are familiar with our uses. This make it easy to give information as far as KYC and sending money is involved.

We're currently serving around 20,000 users. We're targeting to serve at list 500,000 users between 2020 - 2021. In the next 2-3 years we're intending to between million active uses who are sending and receiving money through our platform. Within five years we're planning to be serving between 10 million and 15 million Africans within the respective countries we're intending to expand RePay Africa. This strategy and target will involves our agency program where we'll recruit between 20,000 to 80,000 agents in each country we'll be having presence, this enable our users to deposit and withdraw money easy due to availability of our agency. With the same effort we're intending to enroll at list 5,000 merchants who will be accepting payments through our platform,  within 2-3 years we're intending to recruit between 20,000 - 50,000 merchants across the countries we'll have presence. In the next 5 years we're targeting to have over 100,000 merchants a cross Africa bringing RePay Platform a monthly revenue of 1 Million dollars. Within 5 years targeting to be raising at list 500,000 USD per month on transaction fee charged from remittance and bills payments. 

We're intending to raise capital for expansion to various African country and finally the entire Africa continent in the next 10 Year. RePay Platform has launched in Kenya. In the next 2-3 years we’re intending to roll out in the following countries; South Africa, Rwanda, Burundi, Southern Sudan, Uganda & Tanzania. In 5 years, we’re intending to roll out RePay platform to the entire Africa continent. As we're doing expansion we're also intend to invest in improving our platform to accommodate millions of transaction and various currency around the continent while partnering with different organizations in Africa. In the first year we're intending to raise between 10,000 - 15,000 revenue through our platform within 2-5 years we're targeting to be earning  1 Million dollars monthly from our merchants. Within 5 years we're targeting to 500,000 USD per month as revenue from transaction fee charged on remittance and bills payments. 

Our biggest challenges or barriers that we have is finances/enough capital to venture out to countries we're intending to role out RePay, additional we lack enough resource to do a national wide marketing campaigns we're only do minimal social media marketing. We're currently bootstrapping with initial capital from our founders for paying our employee and servers we're leasing. Other major challenge is our infrastructure can not support many uses and transaction, we lack enough capital to setup our own data center to host RePay Platform. Minor challenges like technical can be easily overcome without any problem while majority of our barriers are financial. Lack of enough capital has delayed us to acquire national wide outlook for our products and services that will help a lot of  business and individual as well.

Currently we're raising Capital from venture firm and grants around the world. With between 4 million to 10 million USD of funding, we'll be able to improve our marketing and customers acquisition, we'll be able to also venture out to various targeted countries. . Venturing out to this various countries we're targeting will enable us to get more customer and this means there will be an improvement in our revenue, With enough funding we'll expand to our first major targeted countries like South Africa, Ethiopia, Rwanda & Burundi. Our technical barriers; we'll solve them internally by enabling and giving training to our employees and encouraging them to further their education. With the targeted capital we'll be able to have the nation and the regional outlook that is need for our business success. We'll partner with major universities to organize boot camps and hackerthon to scout for new team members and mentorship. 

We currently have 6 full time employees. Three in software development and the remaining three are in management and daily operation of the company.

We have six more not full-time staff who helps us when the need arise because we don't generate enough income to employ them full time.

Occasionally we take 8 interns from local university for internship.

1. Our entire team has more than 10 years’ experience in the finance, payment & banking industry.

2. Our 3 developers: Claude, Fred & John  have more than 5-year experience combined.

 3. Myself having worked 7 years in developing core banking systems and currently working as the CEO.

 4. Janet Co-Founder and heading finance has more than 3 year of banking experience and Finance.

5. Loice our accounts management has more than 4 years experience in accounting & book keeping. 

6. Kevin with 7 years of business development & Software sales. 

7. Our mentor Samwel has more than 13 years in financial planning & Project/grant Management in NGO’s, he has managed various funds/grants in major NGO’s in Kenya.

Currently We have three major groups that we have partnered with to pilot our services;

1. MFIs, Sacco's and community based lending groups to provide our services.

2.Small local kiosk/businesses as merchants to receive payments through our platform for the services they are offering their customers.

3. We have also partnered with small shops 'Duka' as our agents to facilitate peer to peer money withdrawal for cash in and cash out.

PROBLEM

In the world today, especially in Africa, there’s a need to digitize financial services. 

SOLUTION

RePay Digital payment & money transfer.

KEY RESOURCES

RePay Platform for merchants & Mobile app for users, R&D team, Big Data, Artificial Intelligence, Partners and customers.

CUSTOMER SEGMENTS

Our target customers include the following; -

• C2C – Peer to Peer transfer
• C2B- Payment to merchants
• B2C – Business to Clients
• B2B- Business to Business

UNIQUE VALUE PROPOSITION

African wide payment & transfer platform that support online money transfer and bills payment to merchants serves as electronic alternative to cash and cheques.   

COMPETITIVE LANDSCAPE

Our main competitors PesaPal, Flutterwave & Interswitch.

COMPETITIVE ADVANTAGE

RePay platform has a merchant dashboard whereby the merchants are able to track payments for services rendered to their customers. Our dashboard is also able to have various users who are given specific roles e.g. sales, admin & accounts. Additionally, the merchant portal has the ability to maintain an audit trail for management use. We have RePay android & iOS app for customers to make payment and purchases from the merchants or send peer to peer.

SALES CHANNELS

• Online advertisements
• Social media marketing
• Our website
• Partners program
• Own platform
• Mobile apps

REVENUE STREAMS

• Commission on transactions per month
• Revenue from API integration
• Sale of our banking core solution
• Consultancy

PARTNERS

• Banks
• Microfinance Institutions such as SACCOs
• Third party merchants
• Our shareholders
• Payment providers/agents

COST STRUCTURE

• Platform development & Maintenance
• Transaction security
• Customer acquisition costs
• Legal
•  Staff
•  Office space.

We're continuously raising working grants & capital through investor during to compliment our growth and expansion strategy in the Africa continent. This  capital we're using to support our entire operations as we make and grow our sales and acquiring new users and customers that will sustain our business comfortably.  We're also come up with an operating strategy that includes internal organizational structure and external partnerships that are crucial for creating the organization’s intended impact in sales and product adoption. Finally we're creating a resource strategy that defines where and on what terms RePay Africa will acquire the resources finance & team members it needs to do its work.

We have been raised seed capital from our founders, friends and family as following.

2018-  25,000 USD 

2019 - 35,000 USD

We're seeking to raise 4-5 Million USD in grant or equity  by December 2020 to enable us to implement our 5 years strategy of venturing in various countries in the East & South Africa. Also also improve our marketing and advertising campaigns. Our feature endeavor in various countries is capital intensive with high returns on our business revenue and investors across the world. 

Our estimated estimated expenditure for 2020 will be between 450,000 USD to 750,000 USD. This will be distributed towards  Rent,Utilities Accounting/bookkeeping Legal/insurance/licensing fees Technology Advertising & marketing Salaries.

We're striving to reach all the corners of the Africa continent by the end of the year 2020.

We're applying to showcase the potential of our platform in working with like minded organization in the world that works in helping Africa financial inclusion challenges and help solve the gap. We're also applying so that we can win the prize money that will allow us to scale repay Africa across the Africa continent and impact the financially excluded and marginalized. Finally we're applying so that we can meet with investors that will support our vision of connecting the entire Africa financially by growing RePay to all Africa countries and connecting the Continent poor household and communities to be able to access financial services easily at their convenience. 

Our partnership goals is generally to partner with individuals and organization that will help us grow our services across Africa and the wider world through media exposure, funding and also board advisory. For us to be successful we need partners, partners who share our vision because we can't grow alone.

1. Visa - provide debit card support and investment in our business model.

2. MasterCard - Provide debit support and investment on our business model.

3. Solve - Provide knowledge and advise on our product and capital raising.

4. Google provide cloud platform and marketing.

5. Microsoft  provide cloud platform &marketing.

this partners will enable us through their resources to scale our platform, revenue marketing product adoption and sales.