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The Payment App (TPA) is a fintech company that’s developed a suite of payment apps, a proprietary payment gateway, and a data engine to help Australian business sell more while at the same time reducing fraud.
The Payment App’s vision is to move beyond the “transaction” to create a better payment “experience”. By providing businesses with access to more data and consumers with a better and easier way to pay, TPA strives to create a more tailored experience for the customer, resulting in more satisfied customers and businesses.
In a world where more than 40% of online transactions are made using a mobile device, global demand is rapidly growing for payment gateway software. Pioneers such as PayPal and Square have opened up the marketplace. But there is an opportunity to take online payments to the next level.
The global spread of COVID-19 has only accelerated the use of “tap-and-go” mobile payments. In Australia, the move towards becoming a cashless society has been hastened by warnings about potentially contaminated cash. In the post-COVID-19 economic recovery, the shift to online payments, including “tap-and-go” mobile payments, will be swift and extensive.
The current market is characterised by simple payment technology providers that facilitate online payments.These companies are extremely limited in the types of transactions they can process as well as the data-driven,“value-add” functionality that can simultaneously reduce the incidence of non-payment and fraud.
Payment software is currently two-dimensional and doesn’t allow for more complex transactions such as bill-splitting or buy-now, pay later options. As transactions become more complex, there is a need for more comprehensive software to manage the complexity of modern transactions.
Some payment software doesn’t take responsibility for “Know Your Customer” or “Anti Money Laundering” screening. As cyber criminals become more sophisticated, the need for instant verification of payments will be critical.
Transactions have the potential to create a rich source of data, but most companies record very little detail about the transactions. There is significant potential to record more data about transactions that can produce business intelligence.
Better data allows businesses to tailor the customer experience. This is an area with significant growth potential as the data can be used to build an end-to-end customer experience.
The Payment App will change the way in which consumers, merchants, brands and financial institutions interact with each other. Purchasing relationships with merchants have changed, becoming more complex and moving away from the cash register.
Our collaborative approach has created an API driven, machine learning platform offering an innovative and mutually rewarding way for consumers and merchants to interact.
Frictionless, fast, cashless payments. On demand, or prepaid with push or pull payment mechanics allows users to capture the best buy, pay later or split with friends.
POS integration eliminates friction and enables 1:1 dynamic pricing mechanisms from merchants or brands to leverage inventory & time as marketing mechanics.
1:1 deal engine allows merchants or brands to target users by location or demographic with relevant deals to drive sales, clear inventory or push traffic.
Our payment gateway provides a platform for fast and secure payments in real time with a depth of transactional data not currently provided by existing companies.
We provide rich and smart consumer behaviour, and purchase data incorporating demographics utilising the SKU data that we capture from our POS integrations.
The Payment App has developed three core business units that have the potential to scale quickly and extensively.
The company’s payment gateway and other payment services can be integrated by any merchant (bricks and mortar store, ecommerce website or mobile app).
TPA charges a monthly subscription for their payment services, in addition to a fee of between 3-5% for every transaction. The more companies using TPA’s payment services the more recurring revenue the TPA generates.
TPA has also developed its own payment apps and formed joint venture companies with other businesses to deploy payment apps in specific markets. The payment app pathway to market allows for mass connectivity to key industry sectors spanning petrol, real estate, alcohol and labour hire. The payment apps have their own individual business strategies and growth potential.
Over time the data generated by TPA’s data engine will become valuable to merchants and others. TPA will ultimately offer data-as-a-service to companies seeking information about existing and potential customers to tailor offerings more closely to customer needs and wants. Data will be provided on a subscription basis as well as one-off reports.
Clipp allows hospitality patrons to pay for food and drinks in bars, restaurants and hotels. TPA acquired the Clipp IP and brand in June 2020, and we have commenced re-development of the App ahead of a planned re-launch post COVID-19 restrictions.
Since 2014 and prior to TPA’s acquisition, Clipp has generated $27.5 million in revenue from 350,000 transactions and acquired 130,000 users.
Fill stops Australians being ripped off by the petrol industry. Fill helps users find cheaper fuel every day, from any brand of petrol retailer through intelligent mechanics, then pay on their mobile contactlessly. Users can lock in a cheap price and pay later, buy on demand or pre-buy a spot price special pushed out by a petrol retailer.
Shift helps businesses access extra staff to cover rostered shifts at short notice. Shift Staff matches available and qualified staff via in App job ads. Shift Staff then supplies the staff as a labour hire agency handling all payroll requirements on behalf of the business needing their shifts covered.
Rentive allows renters to control their rental payments, rental history and rental applications from their smartphone with payments via credit card, Paypal, eftpos or direct debit. In Australia, $40 Billion in rent is paid per annum from 59.8 million fortnightly payments.
Investio enables conscientious and ethical investment opportunities in the green, sustainable, renewable and bio-investment spaces at a micro level and beyond. In the last two years, growth globally in sustainable investments grew 30.4% to $30.7 Trillion.
The Payment App is a data driven, payment services company that generates revenue from payment transaction services, advertising, subscriptions and data services.
By developing integrated business intelligence with machine learning, The Payment App is able to provide merchants, brands and interested businesses with a unique transactional based engagement solution.
Annual or monthly subscription fees paid by merchants for the use of The Payment App payment gateway, payment services, merchant and data services. Merchants using The Payment App’s own B2C and B2B apps may also pay subscription fees for some services within those Apps.
Transaction Fees apply to our payment gateway and payment services. Merchants availing themselves of the business growth opportunities which flow from our B2C and B2B payment apps also pay a 3-5% commission on the user transactions which placed through those apps.
The Payment App earns data revenue from merchants, financial institutions, brands, industry suppliers & interested third parties on various models: subscription for regular updated data sets, one off data sets, packaged reports & customised services, eg. credit enquiries, KYC/AML searches, identity verification & validation.
The Payment App derives advertising revenue from advertisements served to users of our B2C and B2B apps, and from product promotions delivered by brands for fulfilment and redemption via merchants through our B2C and B2B apps. Potential advertising partners include brewers, imported beer brands, petrol retailers, confectionery brands, grocery brands, insurers, banks etc.
Under this CSF raise the Company is offering up to 1,572,327 Shares at an issue price of $0.636 each to raise up to $1,000,000.
Off the back of keen customer interest and executed service agreements, The Payment App is seeking investment to commercialise and bring to market its technology in Australia.
The company is an early stage business, on the cusp of disrupting international industry sectors. The opportunity is significant, but there is a degree of risk associated with any early stage company seeking to break into competitive markets. This includes but is not limited to contractual risks associated with performance thereto obligations to time and quality of work performed, reliance on core information technology and other systems, limited operational history, intellectual property risk and the Company may need to obtain additional funding if there are changes to operations requirements, market conditions or business opportunities.
See section 2.23 of the Offer Document for further discussion.
The Offer is subject to a Maximum Subscription amount of $1,000,000. If the Maximum Subscription is reached, the Offer will close early. Applications will be treated on a time priority basis and may be subject to scale back, so please fund your application as soon as possible
RISK WARNING: Crowd-sourced funding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of ventures is speculative and carries high risks. You may lose your entire investment, and you should be in a position to bear this risk without undue hardship. Even if the company is successful, the value of your investment and any return on the investment could be reduced if the company issues more shares. Your investment is unlikely to be liquid. This means you are unlikely to be able to sell your shares quickly or at all if you need the money or decide that this investment is not right for you.
Even though you have remedies for misleading statements in the replacement offer document or misconduct by the company, you may have difficulty recovering your money. There are rules for handling your money. However, if your money is handled inappropriately or the person operating this platform becomes insolvent, you may have difficulty recovering your money. Ask questions, read all information given carefully, and seek independent financial advice before committing yourself to any investment.
5 DAY COOLING OFF PERIOD: There is a 5 business day cooling off period for retail investors. During this period, you may withdraw your application and receive a full refund into your nominated refund account. Please note: After the 5 day cooling off period has expired, you will be unable to withdraw your application. More information here.
ONMARKET FEES: Upon successful completion of the Offer, a maximum fee of 6% of the funds raised will be paid to OnMarket by the Company.
ONMARKET INTERESTS: OnMarket and its associates may be participating in this offer.
ONMARKET INTERESTS AND AMOUNTS SUBJECT TO COOLING OFF: The funding bar displayed under each crowd funding offer may include applications where payments are yet to be made and amounts that are subject to the cooling off period.
Section 734(6) disclosure: The issuer of the securities isThe Payment App Pty Ltd ACN 635 080 849. The securities to be issued are fully-paid ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).
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RBA’s 2019 Consumer Payments Survey highlighted that the number of Australians that use cash for transactions continues to fall. In 2018, there was $8.4 billion of mobile commerce transactions in Australia as well as $184 billion spent on global Big Data acquisition in 2019. COVID-19 has shown that consumers will willingly accept and embrace digital payments, and with that there is a need to have a cashless society where there is a rich ecosystem of data and payments interacting.
The current market is characterised by simple payment technology providers that facilitate online payments. These companies are extremely limited in the types of transactions they can process – no complex transactions, security limitations, no customer data.
The Payment App’s vision is to move beyond the “transaction” to create a better payment “experience”. Providing businesses with access to more data and consumers with a better and easier way to pay, TPA creates a more tailored experience for the customer, resulting in more satisfied customers and businesses.
Before investing please consider the offer document and the general risk warning.
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Before investing please consider the offer document and general risk warning.
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