WitPay Technologies

paymentsmobile/digital walletbill payments

FOUNDING YEAR: 2016
LOCATION: Thailand
Last Update: 01/05/2020

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About

WitPay is a smart way of doing mobile top-ups and bill payments. WitPay is built with a mission to become first and best online credit lending company with special focus on simplifying micro-transactions.

MEDICI Analysis

WitPay offers a mobile app that allows users to pay mobile recharges, top-ups, bill payments and also redeems deals, vouchers, and coupons.

Focus

PRODUCTS & SERVICES

WitPay is an online mobile topup and bill payment platform. It offers mobile topup services of all major Thailand operators and expanding to other bill payment services . It offers vouchers from selected brands of Thailand to its customers for free.

REVENUE MODEL

a) Commission from telcos & service providers b) Service fees from merchants through paid and premium vouchers

PRIMARY PROBLEM SOLVED

Our long-term goal is to offer online credits with the special focus on micro-transactions using machine learning. Currently, we are offering an innovative payment platform for doing mobile top-ups & utility bill payments.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

Traction

REVENUE

$0 - $99k

ACTIVE USERS:

5,000

People

FOUNDERS

Shiva Peddi

NUMBER OF EMPLOYEES

1-10

COMMENT:

The team comprised of 10 people with average ~8 years of experience in product development,management across companies like Lazada, Paytm, Amazon, McKinsey, Hike, Housing with graduations from IIT's elite Institutions. Plus experienced startup execution team based out of Thailand. The team believes in simple philosophy to treat the customer as God!

Momentum

FUNDED

NO

LISTED

YES

For Investors

FUNDING NEEDED:

$300 K

MONTHS LEFT WITH CURRENT CASH BURN RATE:

12 months from 4 Oct, 2017

COMPETITORS:

AirPay

Boonterm

BluePay

BASICS

FOUNDING YEAR:

2016

LOCATION:

Thailand

Views:

116 VISITORS | 218 VIEWS

About

WitPay is a smart way of doing mobile top-ups and bill payments. WitPay is built with a mission to become first and best online credit lending company with special focus on simplifying micro-transactions.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

WitPay offers a mobile app that allows users to pay mobile recharges, top-ups, bill payments and also redeems deals, vouchers, and coupons.

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

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WitPay Technologies

About

WitPay is a smart way of doing mobile top-ups and bill payments. WitPay is built with a mission to become first and best online credit lending company with special focus on simplifying micro-transactions.

Focus

PRODUCTS & SERVICES

Online credit lending platform with the special focus on offering the seamless payment solutions for facilitating micro-transactions. As a first step towards this, we have built an innovative mobile top up and utility bill payment platform where a customer can avail interesting vouchers by doing a transaction. WitPay wants to address these pain points 1. No platform offers, buy with 1 tap feature. 2. Payment failure rate is very high. 3. Refunds are hassles. 4. No transactions are offered in postpaid. 5. No differential treatment or convenience to loyal users.

REVENUE MODEL

a) Commission from telcos & service providers b) Service fees from merchants through paid and premium vouchers

TOP PROBLEM SOLVED

Our long-term goal is to offer online credits with the special focus on micro-transactions using machine learning. Currently, we are offering an innovative payment platform for doing mobile top-ups & utility bill payments.

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

We are at growth stage. Launched 2+ month back and we have reached 5k+ downloads, 3k+ customers with 6k+ transactions attempts including both Android and Desktop platforms. We see 62% of our traffic is repeat for month of Sept. We expect it would go to 90% in next 2 months.

KEY DIFFERENTIATORS

Innovative way of offering vouchers to encourage users to make more transactions. Desktop presence.

PRIMARY CUSTOMER TYPE

Consumer

PRODUCT ATTRIBUTES

Customer facing

People

FOUNDERS

Shiva Peddi

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO: Shiva Chaithanya Peddi

FOUNDER: Shiva Peddi

TEAM COMMENT:

The team comprised of 10 people with average ~8 years of experience in product development,management across companies like Lazada, Paytm, Amazon, McKinsey, Hike, Housing with graduations from IIT's elite Institutions. Plus experienced startup execution team based out of Thailand. The team believes in simple philosophy to treat the customer as God!

Momentum

FUNDED

NO

FUNDING COMPLETED

NO

LISTED

YES

FUNDING SERIES