Nigeria - Startup under 3 years old

Describe your project or startup in a few words

Paykode is a payment solution that promotes privacy helping you to send and receive payment without you sharing your banking details. We put security at the core of our service that's why we protect you against fraud online when buying or selling online.

01.01 Describe your startup in more detail

We are a contactless payment solution provider for consumers and SMEs. We take away the barrier of sharing your banking details or ATM details before sending or receiving payments. With Paykode you no longer needs ATM card to make payments online, you also don't need to contact your bank to make payments. All that you need is to generate a code containing the amount and insert the code on the sellers website or app. This is simple and easy it also improves security since you no longer needs to expose your bank details or card information on every website you make payments to. Our platform is a go-to for celebrities and influencers to send money to fans without requesting fans banking details. It also makes it easy to send surprise gift to loved or friends for birthday, wedding and other events. We add value to your gift by using AI to generated customizable animated gift card that resonate with the event

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

We are exploring safe and convenient way for consumers and businesses to send and receive payments without compromising privacy and security Our conventional way of sending and receiving money is disconnected from simplicity, convenient and privacy. There is no way I can send you money without me requesting your banking details neither can I receive payments without sharing my banking details. This is even more difficult when sending money to multiple accounts, you have to collate the accounts make sure you are sending to the right bank and the right account number. This process is error prone, repetitive and tasking. and less private since it requires sharing of banking information before receiving payments. With Paykode you can send and receive money without sharing your bank details and you can send 50 people money within 2 minutes a process that could take more than 20 to 30 minutes with our conventional approach.

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

1. Security / Privacy: Because you are using Paykode during checkout you are sure your banking details are not shared with any third party, neither are you bordered about your ATM details being stolen. This is because Paykode isolates the amount needed for checkout in just a single 6 digits code to be redeemed during checkout. 2. Convenient: With Paykode you do not boarder about the recipient banking details you focus on the recipient getting paid. It's like sending a cheque you do not boarder the bank the money is paid to all you know is the funds are sent to the receiver. 3. Speed: Paykode is 10X faster for sending & receiving payments since it does not require moving across different networks before getting to the recipient. Alerts are instant without delay thereby enhancing transaction speed.

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

Consumers: 1. We are focused on consumers in urban cities who are tech savvy or have access to the a smart phone. 2. Celebrities and influencers: Paykode is instrumental to celebrities and influencers since is enables them to give back to fans without the stress. 3. SME's: This enables business to easily receive payment for products and services, we currently focus on freelancers and e-commerce businesses.

01.05 When was your company established?

2023-11-21

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

4

01.08 Among the other owners, how many are female?

0

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

MR. CKROMEO OFEM (Co-founder & Chief Executive Officer CEO) He is an exceptional leader who bears the idea and the foresightedness of Paykode's future. He is the founder of Jiffye Software and HiiHR Software both of which are used by large corporations. He has worked in different management and technical levels, and has helped small and large enterprises such as Daewoo Nigeria Ltd. to automate its operations and enhance its cyber security implementation to aid swift and secure business operations across Nigeria. Mr. Ofem has more than 15+ years of work experience across different industries including finance, technology and engineering. He is a cyber security expert and a Certified Ethical Hacker by EC-Council. He is a graduate of Computer Science from the University of Calabar.

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

https://paykode.com

01.11 Which industry best describes your project?

h) IT (digital services, equipment and software)

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

We focus. on improving life using technology by enhancing the way people send and receive payment, this overall impact on businesses which aid business growth and customer satisfaction. Customer satisfaction contributes to unit economic of any business for it encourages patronage

02.02.01 My startup contributes to the Zero hunger goal

5

02.02.02 Zero hunger - Justification for my startup

Payment plays a vital role in commerce, making financial services more accessible and simple improves commerce which fuels food production accessibility.

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

7 - Strongly Agree

02.03.02 Good health and well-being - Justification for my startup

Those with money seem to have better health as they can afford to pay for healthy leaving, it is crucial to make payment more easier and simpler for everyone for a better living and that is what Paykode offers.

02.04.01 My startup contributes to the Quality education goal

5

02.04.02 Quality education - Justification for my startup

02.05.01 My startup contributes to the Gender equality goal

4

02.05.02 Gender equality - Justification for my startup

02.06.01 My startup contributes to the Clean water and sanitation goal

4

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

4

02.07.02 Affordable and clean energy - Justification for my startup

02.08.01 My startup contributes to the Decent work and economic growth

4

02.08.02 Decent work and economic growth - Justification for my startup

02.09.01 My startup contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification for my startup

Paykode is an innovative payment solutions that brings positive change to the way we make and. receive payments. Paykode will have impact on different areas of the payment ecosystem and behaviour of consumers and businesses.

02.10.01 My startup contributes to the Reduced inequalities goal

4

02.10.02 Reduced inequalities - Justification for my startup

02.11.01 My startup contributes to the Sustainable cities and communities goal

7 - Strongly Agree

02.11.02 Sustainable cities and communities - Justification for my startup

Commerce impact on the human settlement and stability which invariably impact on the. development of the city. The key driver to commerce is financial inclusivity and accessibility. There for this to work the process needs to be simple and safe for all. Simplicity and safety is at the core of our payment model and we strongly belief that our payment solution will contribute to sustainable cities and communities.

02.12.01 My startup contributes to the Responsible consumption and production goal

7 - Strongly Agree

02.12.02 Responsible consumption and production - Justification for my startup

Productivity is driven by entrepreneurship so the more entrepreneurs we have the more lives are improved to afford responsible consumption. With our payment solution we are intentional to empower businesses to make more sales and get paid easily. Because consumers has a better payment solution they are more inclined to buy goods and services.

02.13.01 My startup contributes to the Climate action goal

4

02.13.02 Climate action - Justification for my startup

02.14.01 My startup contributes to the Life below water goal

4

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

4

02.15.02 Life on land - Justification for my startup

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

4

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

4

02.17.02 Partnerships for the goal - Justification for my startup

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

7 - Strongly Agree

06.02 The product/service represents an entirely new type of product/service.

7 - Strongly Agree

06.03 The product/service could be described as a new technology.

4

06.04 The product/service is an improvement on an existing product or service.

6

06.05 The product/service could be described as an extension of a range of products or services.

7 - Strongly Agree

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

7 - Strongly Agree

06.07 The product/service is a new version of an old product/service.

2

06.08 Justification for my startup

06.09 Competitive Analysis

Commerce impact on the human settlement and stability which invariably impact on the. development of the city. The key driver to commerce is financial inclusivity and accessibility. There for this to work the process needs to be simple and safe for all. Simplicity and safety is at the core of our payment model and we strongly belief that our payment solution will contribute to sustainable cities and communities.

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

I encourage y wife and empower her (they say charity begins at home)