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Part 3 – birth certificate assets that teach the power of compound interest



Part 1 (8 June), part 2 (15 June), part 4 (29 June).

If you give cash in the form of equity to a new born baby and lock that capital away for a long time, when that person receives the capital they will learn the power of compounding.

Wealthy families already do this. What about poor families? They will need somebody wealthy to donate that Birth Certificate capital. Donors should be able to choose from a checklist of 6 items.

  • how much they will donate (obviously, like any donation). For example, $100,000.
  • how many babies to donate to? If the total donation is $100,000 is that 100 babies getting $1,000 or 10 babies getting $10,000. The maximum per baby is $100,000 and the minimum is $1,000 in developed economies.
  • whether they want to donate to named people. To avoid people using this just to donate to friends and family they must self certify that they do not know the people they are donating to. Donating to named people could make it more appealing to donors.
  • whether they want to be anonymous or have their donation publicly listed?
  • what country they want to donate to. There should be a list of  countries to choose from. This will determine the maximums and minimums (eg $1,000 maybe a lot in some countries) and the appropriate tax vehicle.
  • what assets they want on the certificate. This is the subject of next week’s post.   

Some subjects are too complex for our short attention spans, so we do 4 posts one week apart, each one short enough not to lose your attention but in aggregate doing justice to the complexity of the subject. Stay tuned by subscribing.

if you are interesting donating cash or IP to this impact venture idea, please reach out to me on LinkedIn.

Daily Fintech’s original insight is made available to you for US$143 a year (which equates to $2.75 per week). $2.75 buys you a coffee (maybe), or the cost of a week’s subscription to the global Fintech blog – caffeine for the mind that could be worth $ millions.

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Mobility app Moja to expand into West African market with O-CITY



Mobility app Moja Ride has partnered with Fintech O-CITY to fuel its digital innovation and future expansion plan in key West African markets.

Based in Ivory Coast’s capital city Abidjan, Moja’s partnership with O-CITY comes after a series of funding rounds from leading global investors, Orange Ventures, and Toyota Tsusho Corporation (“Toyota Tsusho”), and its group company CFAO SAS.

Founded in 2020 by Jean-Claude Gouesse, the Ivorian start-up allows commuters to book and pay for their rides digitally while enabling independent transport operators to manage their fleet, routes, and payment methods.

The app has onboarded over 35,000 share-taxis (“Woro-Woro”) and 8,000 mini-buses (“Gbaka”) since its launch and has been rapidly gaining market share across multiple transport services in Abidjan. With fresh funds in the kitty, Moja plans to expand its services in other West African countries piggy-backing on O-CITY that operates in 130 cities worldwide. O-CITY will enable public transport drivers to accept different payment methods from passengers, including QR codes, NFC, and prepaid cards.

The recharge is done either through mobile money or a network of agents. As a result, transport operators, owners, and drivers can also track their revenue in real-time and manage their fleet for the first time.

“The public transportation industry worldwide is becoming less dependent on proprietary closed-loop payment solutions. Africa, with little legacy infrastructure to slow down progress, has the potential to leapfrog the rest of the world by harnessing the benefits of mobile technology and payments processing solutions to deliver a better and safer customer experience for commuters and transportation providers.” Gousse said, adding that O-CITY’s technology is the key to accelerating the delivery of a frictionless payment.

Currently, thousands of independent owners and dependence on cash make it the mobility market difficult to ensure transparency in terms of pricing and operational management. Through O-CITY, Moja Ride hopes to overcome these bottlenecks.

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Peppermint signs cash deposit acceptance agreement with ECPay



Australian Stock Exchange-listed fintech Peppermint Innovation Ltd has signed a significant cash deposit acceptance agreement with the Philippines biggest third-party electronic payment provider, Electronic Commerce Payments, Inc (ECPay).

The agreement will allow any of bizmoto’s 55,000 plus registered bizmoto agents to physically cash-in money at any of ECPay’s partner outlets and stores nationwide, and instantly top-up their mobile wallets – dramatically expanding the number of cash-in venues for bizmoto agents nationwide.

ECPay has more than 13,000 partner outlets and stores, including retail chains such as 7-Eleven, San Mig Food Avenue and select Petron stations, Prince Warehouse, LCC Malls, NCCC Supermarkets, RD Pawnshop, H Lhullier and Global Access.

Essentially, a bizmoto agent can go into any ECPay store or partner outlet, elect to pay bizmoto to top-up their mobile wallet and their cash-in funds will instantly be credited to their bizmoto wallet. bizmoto agents can cash-in a minimum of 300 pesos and up to a maximum of 10,000 pesos per transaction.

The ECPay deal follows two recent cash-in service agreements signed with Cebuana Lhuillier and the Bank of the Philippine Islands.

Peppermint does not earn direct revenue from the ECPay agreement but will earn a system fee for every transaction that is made across the bizmoto platform. The system fee is not set and varies depending on the trading exchange used. The system fee earned by the Peppermint varies from a flat fee basis to a percentage of the transaction value. At present, Peppermint earns up to 6% of the transaction value on most transactions across the bizmoto platform.

The agreement is for a two-year term (24 months) and then renews automatically from year to year unless either party gives 30 days’ notice to renew.

Implementation planning has commenced with a target ‘go-live’ date in Q3, 2021.

Peppermint Innovation’s Managing Director and CEO Chris Kain said, “Our team has been working incredibly hard to create and provide cash-in mechanisms and locations for our 55,000+ bizmoto agents. By providing bizmoto agents convenient and accessible cash-in options we aim to drive transactions across the bizmoto platform and utilisation of the bizmoto ecosystem.

“This agreement with ECPay dramatically expands the number of cash-in locations nationwide that we’re now able to provide.

“Any bizmoto agent located from Luzon to Visayas and down to Mindanao can now physically go to an ECPay point in any one of 80+ provinces in the Philippines to cash-in and top-up their mobile wallet.

“In addition, bizmoto will be branded via 7-Eleven in-store CLiQQ kiosks that will assist agents with the process of cashing-in and topping-up their wallet. These 7-Eleven stores are open 24 hours a day, seven days a week, 365 days a year – and there are more than 1,000 7-Eleven stores located in metropolitan Manila alone and over 2,600 across the Philippines, so the opportunity to cash-in and top-up is quick and easily accessible.

“Our goal has always been to integrate our bizmoto platform into the established Philippines payments industry and the ECPay agreement is a massive ‘brick in the road’ as we build out our bizmoto ecosystem.”

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Australian FinTech company profile #130 – QuickaPay



1. Company Name: QuickaPay

2. Website:

3. Key Staff & Titles:

Nathan Carroll – Co-Founder

Nick Glynn – Co-Founder

4. Location(s):

Sydney, Australia

Gold Coast, Australia

5. In one sentence, what does your fintech do?:

QuickaPay is a payments platform designed to solve cash flow for small and medium sized businesses by helping them win more business, and get paid Quicka.

6. How / why did you start your fintech company?:

Cashflow is the #1 killer for small and medium sized businesses and as former small business owners, we know how hard it can be to get paid and manage cashflow. Asking people for money upfront is scary because it puts you at risk of losing the deal. Hiring an expensive financial consultant to build you a model that helps you accurately forecast your cash flow is out of reach for most businesses. And 30 day payment terms are basically an excuse to get free financing. So we decided to do something about it hence the idea for QuickaPay. We met during the Antler Venture Capital Accelerator in Sydney, myself (Nathan) with a Sales / Ops background working at companies like Prospa & Valiant Finance, and Nick with Product / Tech at companies like Campaign Monitor & Freelancer, and together we decided to join forces to solve this massive problem. The rest is history.

7. What is the best thing your company has achieved or learnt along the way (this can include awards, capital raising etc)?:

The biggest learning experience for us was truly understanding the importance of speaking to your customers/potential customers everyday. Due to our previous startup experience we knew this was important, but probably didn’t spend as much time doing it as we should have. Once we made this our #1 priority, the entire business changed overnight and things started to really take off.

8. What’s some advice you’d give to an aspiring start-up?:

Know your customers’ pain points better than they know them themselves. You can’t start building a solution until you have mastered this single most important point. After that the rest is easy.

9. What’s next for your company? And are you looking to expand overseas or stay focussed on Australia?:

Next for us is taking our product from an MVP to a full in-market solution which will occur in July. After that it’s all about growth and revenue. We would like to expand internationally but won’t until we’ve saturated the demand in the local Aussie market.

10. What other fintechs or companies do you admire?: They are the Fintech few have heard of yet, had one of the most sought after and successful IPOs of 2019. Their entire GTM strategy was super clever and their product solves a big pain point in the US.

11. What’s the most interesting or funniest moment that’s happened in your company’s lifetime?:

One of the funniest things thus far has been competitors trying to leave us fake customer reviews and bidding on our name when we didn’t even have our product fully in the market. It was quite flattering, haha.

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