Qix Information Technology

paymentssoftware/whitelabel/apis (payments)

FOUNDING YEAR: 2007
LOCATION: United States
Last Update: 01/05/2020

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About

Qixit's patented 2-Way Micropay platform creates the first bridge between reward programs and incentivized online behavior and the seamless purchase of online content at true micropay rates. At the same time, our payment and rewards platform generates superior marketing data for targeted advertising which is used in a manner which generates greater consumer satisfaction and engagement without any violations of privacy, generating more reward points for consumers and more sales for businesses. To breakdown that mouthful a bit, it's helpful to look at the pitch for each of the three major players: --<b>15 second pitch for Consumers:</b>-- 2-Way Micropay stops information overload by letting you set your own price on your time and attention. We block ads on your computer & smart phone unless you get paid at rates you set according to your own interests. You can then use this "free money" and other reward points to buy online content like music, movies, and apps at lower prices with just one click. --<b>15 Second pitch for Advertisers:</b>-- 2-Way Micropay is a messaging and payment platform that maximizes the value of every ad dollar, combining both laser targeting and incentives to build good will with each prospect. Instead of feeling interrupted by your ad, users feel respected, because 70% of your ad dollars’ flow into each prospects own micropay account, which they can then use to buy online content, like music, which they really value. You also receive exact demographics and contact info for selected follow-ups on each ad viewer. --<b>15 second pitch for Publishers and Content Creators:</b>-- 2-Way Micropay gives you an easy way to sell online content at any price, even down to a penny, without the hassle and high cost of credit cards. Plus, with each one click sale, you not only capturing the demographics on each customer but also follow-up contact information which consumer's want you to use for follow-up contact. Plus, because consumers are getting a stream of free money when they see ads, they are looking for a place to spend it . . . at your website. --<b>15 Second pitch for Reward/Loyalty Program Managers:</b>-- 2-Way Micropay provides a low cost, easy to use platform for a universal reward/loyalty program which give customers more options for immediate gratification by being able to buy online content at prices under 50 cents. A bonus for your company: you get more data on every customer. Plus, customers will value your reward program more precisely because they can use your points the same day they earn them.

MEDICI Analysis

Qixit is a PayMail™ system, integrating secure electronic messaging with both micro and macro fund transfers.

Focus

PRODUCTS & SERVICES

Mail based payment platform

REVENUE MODEL

We collect fees of all funds exchanged (30% of all micropayments and delivery fees below $2, plus 3% of any excess above $2), plus list select & data mining fees, commissions on affiliate ad sales, interest on funds held, and upsells.

PRIMARY PROBLEM SOLVED

We all have two conflicting interests. We want to be accessible for information and people that will make our lives better. But we also want to block out the information and people that distract us and waste our time. Rich people solve this conflict by paying personal secretaries to screen out distractions. Qixit's system for auto-negotiated availability is like a personal secretary, but better. Instead of having the expense of paying personal secretary, Qixit's suite of tools actually pay you each and every time a new message is let through. And each message let through is of value to you precisely because it comes with a payment equal to your own predetermined schedule of prices are on what your time and attention is worth relative to different categories and different people or companies, known or unknown. This system also benefits those trying to reach you--whether advertisers, friends, or future business partners--because now they have better data on what is of interest to you and how much your time and attention is worth. So they can now reach out to you with confidence, showing respect for your time and attention by paying an appropriate rate, knowing you will also treat their message with respect rather than annoyance. In addition, since our time and attention for micro-intrusions is properly priced in micropayment terms (typically under $2), this flow of micropay income eliminates the need to prefund a micropay account for purchasing online content which opens the path to a ubiquitous, world-wide platform for micropay sales.

INTELLECTUAL PROPERTY

Patent(s) GRANTED

company provided insights

Traction

TRANSACTIONS COMMENT:

We collect fees of all funds exchanged (30% of all micropayments and delivery fees below $2, plus 3% of any excess above $2), plus list select & data mining fees, commissions on affiliate ad sales, interest on funds held, and upsells. Based on average of just $1 of ad revenue per week, with 30% transaction fees, and with each user spending only what they earn to buy online content, at which point we collect another 30%, yields $26.52 per year, multiplied by 20 years. Readers are encouraged to experiment with the interactive earnings calculator at qixit.com/EarningsCalculator.html

ACTIVE USERS:

8300

ACTIVE USERS COMMENT:

We have approximately 8300 registered users. But as the system has been inactive for years none are active users. Our original "under the radar" beta test, we had approximately 650 registered users. While we have maintained our websites for Qixit.com and 2WayMicropay.com, we have not sought any publicity and have had no coverage in the media or blogs. Still, from latent presence, we are currently getting about 200 people per month signing up to be on our waiting list. What are your customer acquisition costs? In our 2008 test of our website's Qixit.com ability register users and to sell our service, we ran a one-month test using banner ads shown in our pitch deck. The conversion rate was about 20% began the process of creating an account with half of those (10% of all first time visitors) completing the process to create an account. The cost per completed account was about $6 per user, though our banner ad placement service said that further optimization would have reduced this costs. We believe conversion would have been much higher if they had been referred by a news article, a blog article, or especially by a content provider.

People

BOARD MEMBERS AND ADVISORS

Mike Lockwood

COMMENT:

We have years of experience in developing the original products.

Momentum

FUNDED

NO

LISTED

NO

For Investors

FUNDING NEEDED:

$100 K

USES OF FUNDS RAISED:

1. Browser tool to give small micro-payments to users accepting display ads

EXIT STRATEGY

Acquisition or IPO

MONTHS LEFT WITH CURRENT CASH BURN RATE:

0 months from 5 Dec, 2016

COMPETITORS:

Paypal

Google

eBates

BASICS

FOUNDING YEAR:

2007

LOCATION:

United States

Views:

58 VISITORS | 115 VIEWS

About

Qixit's patented 2-Way Micropay platform creates the first bridge between reward programs and incentivized online behavior and the seamless purchase of online content at true micropay rates. At the same time, our payment and rewards platform generates superior marketing data for targeted advertising which is used in a manner which generates greater consumer satisfaction and engagement without any violations of privacy, generating more reward points for consumers and more sales for businesses. To breakdown that mouthful a bit, it's helpful to look at the pitch for each of the three major players: --<b>15 second pitch for Consumers:</b>-- 2-Way Micropay stops information overload by letting you set your own price on your time and attention. We block ads on your computer & smart phone unless you get paid at rates you set according to your own interests. You can then use this "free money" and other reward points to buy online content like music, movies, and apps at lower prices with just one click. --<b>15 Second pitch for Advertisers:</b>-- 2-Way Micropay is a messaging and payment platform that maximizes the value of every ad dollar, combining both laser targeting and incentives to build good will with each prospect. Instead of feeling interrupted by your ad, users feel respected, because 70% of your ad dollars’ flow into each prospects own micropay account, which they can then use to buy online content, like music, which they really value. You also receive exact demographics and contact info for selected follow-ups on each ad viewer. --<b>15 second pitch for Publishers and Content Creators:</b>-- 2-Way Micropay gives you an easy way to sell online content at any price, even down to a penny, without the hassle and high cost of credit cards. Plus, with each one click sale, you not only capturing the demographics on each customer but also follow-up contact information which consumer's want you to use for follow-up contact. Plus, because consumers are getting a stream of free money when they see ads, they are looking for a place to spend it . . . at your website. --<b>15 Second pitch for Reward/Loyalty Program Managers:</b>-- 2-Way Micropay provides a low cost, easy to use platform for a universal reward/loyalty program which give customers more options for immediate gratification by being able to buy online content at prices under 50 cents. A bonus for your company: you get more data on every customer. Plus, customers will value your reward program more precisely because they can use your points the same day they earn them.

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MEDICI Analysis

Qixit is a PayMail™ system, integrating secure electronic messaging with both micro and macro fund transfers.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

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Qix Information Technology

About

Qixit's patented 2-Way Micropay platform creates the first bridge between reward programs and incentivized online behavior and the seamless purchase of online content at true micropay rates. At the same time, our payment and rewards platform generates superior marketing data for targeted advertising which is used in a manner which generates greater consumer satisfaction and engagement without any violations of privacy, generating more reward points for consumers and more sales for businesses. To breakdown that mouthful a bit, it's helpful to look at the pitch for each of the three major players: --<b>15 second pitch for Consumers:</b>-- 2-Way Micropay stops information overload by letting you set your own price on your time and attention. We block ads on your computer & smart phone unless you get paid at rates you set according to your own interests. You can then use this "free money" and other reward points to buy online content like music, movies, and apps at lower prices with just one click. --<b>15 Second pitch for Advertisers:</b>-- 2-Way Micropay is a messaging and payment platform that maximizes the value of every ad dollar, combining both laser targeting and incentives to build good will with each prospect. Instead of feeling interrupted by your ad, users feel respected, because 70% of your ad dollars’ flow into each prospects own micropay account, which they can then use to buy online content, like music, which they really value. You also receive exact demographics and contact info for selected follow-ups on each ad viewer. --<b>15 second pitch for Publishers and Content Creators:</b>-- 2-Way Micropay gives you an easy way to sell online content at any price, even down to a penny, without the hassle and high cost of credit cards. Plus, with each one click sale, you not only capturing the demographics on each customer but also follow-up contact information which consumer's want you to use for follow-up contact. Plus, because consumers are getting a stream of free money when they see ads, they are looking for a place to spend it . . . at your website. --<b>15 Second pitch for Reward/Loyalty Program Managers:</b>-- 2-Way Micropay provides a low cost, easy to use platform for a universal reward/loyalty program which give customers more options for immediate gratification by being able to buy online content at prices under 50 cents. A bonus for your company: you get more data on every customer. Plus, customers will value your reward program more precisely because they can use your points the same day they earn them.

Focus

PRODUCTS & SERVICES

www.2WayMicropay.com and a suite of tools for the collection and dissemination of user profile data for targeted advertising, blocking of spam, and monetization of personal profile data

REVENUE MODEL

We collect fees of all funds exchanged (30% of all micropayments and delivery fees below $2, plus 3% of any excess above $2), plus list select & data mining fees, commissions on affiliate ad sales, interest on funds held, and upsells.

TOP PROBLEM SOLVED

We all have two conflicting interests. We want to be accessible for information and people that will make our lives better. But we also want to block out the information and people that distract us and waste our time. Rich people solve this conflict by paying personal secretaries to screen out distractions. Qixit's system for auto-negotiated availability is like a personal secretary, but better. Instead of having the expense of paying personal secretary, Qixit's suite of tools actually pay you each and every time a new message is let through. And each message let through is of value to you precisely because it comes with a payment equal to your own predetermined schedule of prices are on what your time and attention is worth relative to different categories and different people or companies, known or unknown. This system also benefits those trying to reach you--whether advertisers, friends, or future business partners--because now they have better data on what is of interest to you and how much your time and attention is worth. So they can now reach out to you with confidence, showing respect for your time and attention by paying an appropriate rate, knowing you will also treat their message with respect rather than annoyance. In addition, since our time and attention for micro-intrusions is properly priced in micropayment terms (typically under $2), this flow of micropay income eliminates the need to prefund a micropay account for purchasing online content which opens the path to a ubiquitous, world-wide platform for micropay sales.

PRODUCT DEVELOPMENT STAGE

MVP

PRODUCT DEVELOPMENT COMMENT

We are in a restart mode. We have great patent protection and over a million lines of tested code for account management, targeted messaging, list select, API's for creating pay-out and pay-in hyperlinks, a 2-Way Micropay WordPress plugin, and an integrated email and funds transfer system, all based on a scalable C++ platform, much of which can be salvaged for a restart but will require substantial updating. We raised over $3,367,500 and employed up to 5 full time programmers from 2007-2008. Planning on a major launch, we unfortunately overspent on hardware for both a main data center and backup center, and then our key investor was unable to fund the planned marketing campaign. We lost momentum and our efforts to find angel investors in the 2008 recession failed. We believe the time is right for a restart but we currently have no funds nor have settled on a new team. Obviously, investors want to see a team, but most of the top people we have interviewed for a team want to see investors. Also, based on our last experience, on the marketing side we need a CMO with good connections to strategic partners. We have several options to move forward, from a lean launch of a minimum viable product to a mergers and acquisition strategy wherein we could acquire established companies who already have customers who are getting reward points for purchases and/or viewing ads.

KEY DIFFERENTIATORS

Presently there are no infringers on our core technology business model. Ancillary competitors in the ePayments field include Visa, Mastercard, and PayPal. Currently, the only multi-site micropay platform that has some traction is blendle.com, which is being used by a number of newspapers and magazines as an alternative for pay per view access to articles. In regard to the ad targeting services, which is also a big portion of our market, we are competing with all the options in that sector, including Google, Facebook, Radium One and countless others.

PRIMARY CUSTOMER TYPE

Enterprise - Retailers

Small and Medium Business - Physical Retail

Small and Medium Business - Online Retail

Small And Medium Business - Other

Consumer

People

KEY EMPLOYEES:

CEO: David Reardon

CTO: Tim Henson

TEAM COMMENT:

We have years of experience in developing the original products.

BOARD MEMBERS AND ADVISORS:

Mike Lockwood

Momentum

FUNDED

NO

TOTAL FUNDING:

$3.37 M

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed Jul 2009 --- USD3.37 M at a USD10 Mvaluation Comment on Seed As previously indicated, we are in restart mode. We have great patent protection, and solid legacy software from our initial build, but we need joint venture partners around which to anchor the development of a new team and a new round of funding.