Tanzania - Business creation project

Describe your project or startup in a few words

The project aims to revolutionize agent transactions by implementing cutting-edge cardless technology. This innovative approach eliminates the need for physical cards, instead relying on secure password and biometric verification for withdrawal of funds.

01.01 Describe your project in more detail

The project represents a significant advancement in transactional technology, particularly in the realm of point-of-sale (POS) systems. By integrating cardless technology directly into POS terminals, customers can initiate transactions without the need for physical cards. Instead, they can authenticate themselves using a combination of passwords and biometric data, such as fingerprint or facial recognition. This implementation addresses several key challenges faced in traditional card-based transactions. Firstly, it eliminates the dependency on physical cards, reducing the risk of loss, theft, or damage. Secondly, it mitigates issues related to card malfunctions or mismatches, which can often disrupt transactions and inconvenience both customers and agents. Moreover, by leveraging biometric authentication, the system enhances security and prevents unauthorized access to funds. Biometric data, being unique to each individual, provides a robust layer of protection against identity thef

01.02 What is the main problem you are trying to solve?

Based on the description provided, the project aims to address several key problems in the current transactional landscape: 1. Card Reliability Issues: Traditional card-based transactions can suffer from various reliability issues, such as cards failing to match or having defaults. These issues can disrupt transactions and cause inconvenience to both customers and agents. 2. Security Concerns: There are concerns regarding the security of traditional card-based transactions, including the risk of card theft, fraud, and unauthorized access to funds. Enhancing security measures is crucial to protect both customers' assets and the integrity of the transactional process. 3. Transaction Efficiency: Traditional card-based transactions may not always be efficient, with processes often hindered by the need for physical cards and cumbersome verification methods. Improving transaction efficiency can lead to a smoother and more convenient experience for customers and agents.

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

Of course! Here are three simple benefits of using our cardless technology at POS systems: 1. Safer Transactions: With biometric and password verification, it's much harder for someone else to access your money without permission, keeping your funds more secure. 2. Easier Shopping: You don't need to carry physical cards anymore. Just use your fingerprint or face to confirm your identity, making shopping faster and more convenient. 3. Faster Checkout: Skipping the card-swipe step means transactions take less time. It's a win-win for both customers and businesses, making the whole process smoother and more efficient.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

The project is aimed at serving both customers and agents who engage in financial transactions. The targeted beneficiaries include: 1. Customers: Individuals who need to make transactions, such as withdrawals or purchases, will benefit from the convenience, security, and efficiency provided by the cardless technology. This includes a wide range of individuals, from everyday consumers to business owners. 2. Agents: Financial service providers, such as bank agents or retailers, who facilitate transactions on behalf of customers will also benefit from the streamlined process and enhanced security offered by the cardless technology. This includes improving their efficiency in serving customers and reducing potential risks associated with traditional card-based transactions.

01.05 When did you start working on your project?

2024-05-10

01.06 How many other partners are associated with your business venture?

2

01.07 Among the other partners, how many are female?

2

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

Rosemary Charles: As a graphics designer and developer, Rosemary brings expertise in visual design and software development to the project. With her skills, she can contribute to the development of user interfaces, ensuring that the technology is both functional and visually appealing. Her experience in graphic design and development will be valuable in creating engaging and user-friendly solutions. Bahati Hamis: With a background in computer engineering and IT, Bahati is well-versed in technical aspects related to the project. However, her strengths lie in proposal writing, marketing, and sales. Bahati's skills in these areas make her a valuable asset for promoting the project, attracting partners and investors, and effectively communicating its value proposition. Additionally, her technical knowledge allows her to understand and articulate the project's technical features and benefits to potential stakeholders.

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

01.10 Which industry best describes your project?

g) Financial services

02.01.01 My project contributes to the No poverty goal

4

02.01.02 No poverty - Justification

02.02.01 My project contributes to the Zero hunger goal

4

02.02.02 Zero hunger - Justification

02.03.01 My project contributes to the Good health and well-being goal

7 - Strongly Agree

02.03.02 Good health and well-being - Justification

Our startup helps more people access banking services easily. We do this by using new technology that doesn't need physical cards, making it simpler for everyone to do their banking. This especially helps people who might not have easy access to traditional banks. With our system, they can do transactions securely and manage their money more easily.

02.04.01 My project contributes to the Quality education goal

7 - Strongly Agree

02.04.02 Quality education - Justification

Our startup really helps more people access banking easily. We do this by using new technology that doesn't need physical cards, making it simpler for everyone to do their banking. This especially helps people who might not have easy access to traditional banks. With our system, they can do transactions securely and manage their money more easily.

02.05.01 My project contributes to the Gender equality goal

4

02.05.02 Gender equality - Justification

02.06.01 My project contributes to the Clean water and sanitation goal

1 - Strongly Disagree

02.06.02 Clean water and sanitation - Justification

02.07.01 My project contributes to the Affordable and clean energy goal

3

02.07.02 Affordable and clean energy - Justification

02.08.01 My project contributes to the Decent work and economic growth

5

02.08.02 Decent work and economic growth - Justification

Our startup helps people find jobs and boosts the economy. We create jobs in our company and through partnerships. We also train people to have the skills they need to work. By making products and services that improve businesses, we help the economy grow in a good way.

02.09.01 My project contributes to the Industry innovation and infrastructure

2

02.09.02 Industry innovation and infrastructure - Justification

02.10.01 My project contributes to the Reduced inequalities goal

2

02.10.02 Reduced inequalities - Justification

02.11.01 My project contributes to the Sustainable cities and communities goal

2

02.11.02 Sustainable cities and communities - Justification

02.12.01 My project contributes to the Responsible consumption and production goal

3

02.12.02 Responsible consumption and production - Justification

02.13.01 My project contributes to the Climate action goal

4

02.13.02 Climate action - Justification

02.14.01 My project contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

1 - Strongly Disagree

02.15.02 Life on land - Justification

02.16.01 My project contributes to the Peace justice and strong institutions goal

4

02.16.02 Peace justice and strong institutions - Justification

02.17.01 My project contributes to the Partnerships for the goal

2

02.17.02 Partnerships for the goal - Justification

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

1 - Strongly Disagree

05.02 The product/service we envision creating represents an entirely new type of product/service.

5

05.03 The product/service we envision creating could be described as a new technology.

7 - Strongly Agree

05.04 The product/service we envision creating is an improvement on an existing product or service.

4

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

5

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

5

05.07 The product/service we envision creating is a new version of an old product/service.

3

05.08 Justification

The product/service we envision creating involves implementing cardless technology with biometric authentication at point-of-sale (POS) systems. This represents a significant advancement in transactional technology, offering a novel approach to conducting financial transactions without the need for physical cards. By leveraging biometric data for authentication, we introduce a new level of security and convenience to the transaction process. Therefore, our envisioned product/service aligns with the definition of new technology, as it introduces innovative solutions to existing challenges in the banking and financial sector

05.09 Who are your main potential competitors and what makes you stand out from them?

Our main competitors are traditional banks and other companies offering cardless payment solutions. What makes us different is that we use advanced fingerprint or face recognition for added security. Our system is also easier to use and more affordable, making it accessible to more people.

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

no