MUSE

One of the key issue for micro and small organization in unorganized sector, is the non-kyc based credit score and savings in the institutions which are not mainstream and are also termed as unbanked. it is estimated that around half of the working or earning population is still living  and suffering this Digital divide.

 However the smartphone usages in many parts of the world and increase in internet coverage or accessible internet . It is possible to enable the outreach of the digital wallet and use affordable technologies to bring down the transactions costs for both individual and businesses.

Further there is a need to bring savings which are not just in cash but in asset of Gold and Silver in Digital format which can actually work as the mode of payments with uniform pricing and purity.

Building trust deficit in the digital economy and usage of an asset to denominate at uniform pricing are the underlying ways to bring the technology interface which can be used by individual smartphone  user or through an assisted model using their feature phone and QR code identification.

There is also a need to built the platform which can be localized and also can be linked to the wider digital banking facilities and one of the key areas is the remittances which obviously is one of the strongest source of meeting the living expenses across the South.

it is a web-based and mobile solution where the user can access various features both in Self use and assisted model. This is built on React Native and is available on both Ios and Android.

It provides the dashboard to the 'Entity' Or B2B User of our license or services Under the API method or redirection method who has the captive user base and who has the network of agents and kiosks which facilitate the Wallet and the various other features of 

Adding amount to Cash Wallet, create a debit card (virtual and physical), make direct payments through the cash and the Digital Gold & Silver wallet, make payments using the QR codes .

The solution enables the accounts under two heads namely persona and business. The KYC under the personals nd business are well defined and can be used by the users and are interoperable on the same platform and teh same mobile number.

The personal account has the feature of the 'family' where admin has certain controls on amount of cash spent on each debit card and also create the Digital gold and Silver wallets for the savings in the family. Some very interesting features also include the collect or request money.

Business Account enables the users to use the account and have authorized users access.

Some of the key element of design is to work as the single platform for its users to transfer the funds through the DIgital Gold and SIlver across the world instantaneously. So it is the closed loop wallet with global usage for the users which is a complete gamechanger for the remittances and the exist to the FIat currency is also significantly reduced except where the need of user may need.

Secured Credit card is yet another feature which uses the closed loop wallet tech and specs to enable the  issuance of the credit for users in cross border cases as well as those in the domestic borders.

Its unique loyalty points and voucher system enables e-commerce payments easy.

1.Credit and Remittances for the unbanked and the underbanked is one big segment

2.Enabling the Digital Wallet with a regular returns for the marginal segments

3.Low cost REMITTANCES. (almost lower to 3% of the remittance costs)

Collectively Half of the global populations and the 70 million refugees and displaced persons across the globe.

The current operations in India are evident of the same wherein we have been working very closely with some of the MFI and partners who work in teh remittances and also have large network of agents and kiosks serving the financial needs of the under banked and unbanked in remote parts of the geography.

Indeed in USA, we are targeting the ethnic grocery stores and such communities which are under served.

India : 25000 active users with 100k  

USA : 250 beta users with Grocery providers as the prime users

We are applying here for a larger reach to the network which works for the have nots or the marginalized.

Thus it is more about to outreach the network which works very closely to the group or set of beneficiaries who are usually not reached through traditional means and approach.

Our solution is aimed to address the issue of savings and payments in a very disruptive yet using a simple tech and business method which has not been used till date for the average user.

We usually see complex financial instruments and legislation to facilitate what our solution is preparing the world in the simplest and straight way to go with an asset and technology enablement which is today possible across the globe.

Further we do see lots of technology enablement for our solution which can even lead to much broader kyc solutions for common user as well with a global identity method.

Universality rate of returns

Easy to understand and set financial goals

savings and credit based on the same platform

innovative use of the Wallet which is accessible to both individuals and small businesses

Digital use of asset for monetization through Wallet

Instant Remittance 

Simple KYC

access to those not having credit score

Novel use of dynamic QR code based payments

We intend to impact about more than 2.2 billion people which are either underbanked or unbanked.

The use of internet will facilitate our innovative approach as listed in the section of innovation. About more than 65% of the world population.

We are looking to impact the remittances  USD 600 billion plus industry and the cost of remittances  to less than 3% of the costs.

The most innovative use for the remitters to save in the Wallet and their family together which has been one long standing un addressed issue

We are providing alternative to the falling currencies and cover the inflation costs through the Digital Gold and Silver (approximately five large economies in the developing  world have faced that)

Usage of internet

Usage of smartphones

payment technology adaptation like QR code

Simpler KYC method based on QR codes

including the Digital wallet in both offline and online mode.

Core activity;

Savings with appreciation

Credit for non-KYC  nd smaller payments 

Creating a complete cycle for remittances objectives in improving the earnings of the family unit or income of such households

Short Term goals:

Achieve the success in adoption of the closed loop Digital Wallet for global users

Making identity management easier for the MFI and other institutions through the adaptation of the API

Long term Goals:

making impact on the average house hold incomes and savings in DIgital assets

Appreciating assets with road map for banking and other regular institutions access to the under banked and the unbanled

Lower cost of borrowings

access to easy payments mode and method.

Ours is  a diverse and equal opportunity approach to our work culture. Inclusion is our hallmark and team is the sense of achievement and collective fulfillment.

Advantages of MUSE-Mepay

• Appreciation
• Save Now Pay Later + Earn on your saving through appreciation as well as Loyalty
• Credit Limit
• Loyalty Points in Gold
• Liquidity and cane be used as Debit card as well.

Target Segments for Me Pay

1. New Immigrants to North America

• Students & New Work Visa (F1, H1, L1 etc)
• No Credit History and hence cannot get Credit Card.
• Me pay Credit Card helps build Credit History from Day 1
• Initially target people from India and later expand to more countries which has high immigrant population migrating to North America and GCC
• Low cost for merchants to receive payments
• Global remittance payments
• Unbanked and Under banked families
• women and children savings and entrepreneurial endeavors.

Some key partners signed up in India 

Payswap, Ebixcash, Paul Fincare, Paul Merchants, Rapipay

MFI – finalising the revenue models

Setting up P2P NBFC already signed up

Banking partners like ICICI and IDFC First for credit cards.

Some key partners signed up in North America

Signed up for a Secured credit card with Solidifi

Plaid – a linkage platform, for customers of various banks online

Crunchfish of Sweden ; 

ICICI Bank US & Canada

3blocks.io for payment, gold savings and Real estate

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Revenue

stream

Income item

Applicable Rates

Bullion

1

buying gold

2.00%

2

selling gold margin

2.00%

3

swap gold income - conversion to physical gold

0.50%

Payments

4

p2p transfer income

0.50%

5

pay in digi currency income

0.50%

Credit cards

6

secured card income1 - Processing Fees share (50% of 5 CAD)

2.50

7

secured card income 2 - interchange ; MePay share of 1%;

1.00%

Lending 

8

lending income 1 - Processing Fees; MePay share of 1% ;

1%

9

lending income 2 - interest rate MePay share ; lending assumed at 18% rate

1% or 17%

Loyalty

11

loyalty - rewards and vouchers income … at 5% of total (b2b) biz

0.50%

12

loyalty 2 - consumer generated at 2% on total base of total biz

0.50%

India 

Crossed One million transaction no.s in B2B through our partners

Of which 250 is in US, Canada to start by June’23

Over 25,000 active customers transacting 6-8 times a month

Total live till date customer base of 100,000 

Last six months saw transactions of Rs.10 million

Our partners earning a commission of Rs.2.5 Mln