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CoinyPay

Ukraine, Kyiv city
Market: Internet and IT, Financial services
Stage of the project: Idea or something is already done

Date of last change: 11/20/2017
Min investment
$  25.000
1
Total required
$ 50.000
Rating
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Also this project:
- is looking for investment

Idea

Chatbot is your assistant to automate payments in venues via any messenger app. It works in 3 simple steps:
1) Start
Activate Chatbot on our Facebook page, connect your credit card and get your unique CoinyID directly in Messenger app.
2) Order
Simply tell your CoinyID to the waiter at the venue or use it as a payment option at the supported online shop. Then proceed with ordering as usual.
3) Pay
Your bill will arrive directly in the Messenger app. Chatbot will pay for your order automatically within 30 minutes by charging your connected card.

Current Status

Our current stage is:
Development
We have developed the private beta version of the chatbot for Facebook Messenger and now finishing a plugin for the restaurant system.
Clients
We have a first restaurant owner (Anna) who has 2 very popular restaurants in the heart of Kiev. She is willing to go through with the test launch and help us validate the idea.
We already launched in Dogs and Tails Restaurant in the heart of Kiev.

Market

US market size:

1 million restaurants X 10% penetration goal X 20,000 USD revenue from restaurant per year = 2 billion USD initial market size

Problem or Opportunity

Waiting for bill is pain for modern big city life.
Waiters can't receive electronical tips.
Restaurant owners loose guests and revenue because of waiter waste time on checking out served guests instead of taking new orders.

Solution (product or service)

A simple chatbot to pay your bills in every restaurant automatically via Facebook Messenger and your linked banking card.

Competitors

Visa and mastercard. Apple and Android Pay. But they all do not help to speed up payments.

Advantages or differentiators

No automatic payments on the market.

Finance

Our goal is to get at least 100 local restaurants to be able to generate 10,000 USD per month. We assume that 1 average restaurant will generate 100 USD monthly.

Business model

1) 2.5% commission per transaction from restaurant
2) Web-console for restaurants with guest analytics subscription
3) Other chat-bot services like mobile account refill

Money will be spent on

Local growth, technical update, ICO preparation

Offer for investor

50,000 USD for 10% in Convertible Loan

Risks

Not able to connect enough restaurants to create a network effect when people can use CoinyPay in most of their preferred venues.
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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
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video