Nigeria - Startup under 3 years old

Describe your project or startup in a few words

PaysIt is an all-in-one payment platform enabling users to pay for whatever&whoever, buy mobile data, airtime, TV subscriptions, pay utility bills, and help startups collect payments without extra charges, simplifying financial transactions for everyone.

01.01 Describe your startup in more detail

PaysIt is a comprehensive payment platform designed to simplify and unify various financial transactions. Launched just one month ago, www.paysit.net has already attracted over 200 users who benefit from its ability to handle a wide range of payments, including mobile data, airtime, TV subscriptions, and utility bills, all from a single, user-friendly web-based interface.Our journey began with the vision to create a financial software akin to Opay, but recognizing the need to start smaller, we initially focused on Virtual Top-Up (VTU) services. The success and rapid adoption of this initial offering have validated our approach and set the stage for our next phase of growth.Our next milestone is to expand our services by launching a mobile app to enhance accessibility and convenience for our users. Additionally, we aim to support other small startups by providing them with the tools to collect payments from their customers seamlessly and without additional charges.

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

The main problem PaysIt aims to solve is the fragmentation and complexity of payment services. Currently, users often have to rely on multiple platforms to handle different types of financial transactions, such as paying forservices(of any kind), buying mobile data/airtime, TV subscriptions, and paying utility bills. This fragmented approach is not only inconvenient but also inefficient. Additionally, small startups face challenges in collecting payments from their customers due to high fees and the complexity of integrating with existing payment systems. This can hinder their growth and sustainability. PaysIt addresses these issues by providing a unified, all-in-one payment platform that consolidates various transaction types into a single, easy-to-use interface.

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

Unified Payments: PaysIt consolidates various financial transactions—like paying for services,virtual topup etc into easy-to-use platform, saving users time and effort. Startup Support: It offers cost-effective payment solutions for small startups, enabling them to collect payments without additional fees, thus promoting their growth and sustainability. User-Friendly Experience: PaysIt features an intuitive interface and plans to launch a mobile app, enhancing accessibility and convenience, ensuring a seamless and satisfying user experience.

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

General public : Individuals who need a convenient and unified platform to manage various financial transactions Startups & Businesses:Entrepreneurs and small business owners who require a cost-effective and seamless solution to collect payments from their customers.

01.05 When was your company established?

2024-01-15

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?

1

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

1.Adzembeh Joshua (CTO) is a graduate of Electrical/electronics Engineeringat university of agriculture makurdi and a Python developer who is in charge of our backend and server config. 2.Abah Christian(CPO) is a graduate of Civil Engineering at University of agriculture makurdi in charge of our product developement 3.Miracle Godwin(ACTO) is a graduate of Marin engineering at Rivers state University) and a React developer who is responsible for our UI/frontend 4. Rita Mtam (CFO) is a 400 Level student o Benue state University and in charge of the finance 5.Atsua Jeremiah(COO) is a student 300 Level at university of agriculture makurdi and in charge of our operations

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

https://www.paysit.net

01.11 Which industry best describes your project?

g) Financial services

02.01.01 My startup contributes to the No poverty goal

6

02.01.02 No poverty - Justification for my startup

Many people could have succeeded in business if startup cost is minimised and success in business is a major in poverty alliviation. we have a strategy to help startups collect payments without charging them or their customers

02.02.01 My startup contributes to the Zero hunger goal

3

02.02.02 Zero hunger - Justification for my startup

PaysIt contributes to the Zero Hunger goal by facilitating efficient payment solutions that empower users to access essential goods and services, including food by partnering with agricultural softwares Through our unified platform,

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

6

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

PaysIt contributes to the Good Health and Well-being goal by providing convenient access to essential services, VTU for Entertaiment, stress-free one-in-all services thereby promoting better health outcomes for individuals and communities

02.04.01 My startup contributes to the Quality education goal

7 - Strongly Agree

02.04.02 Quality education - Justification for my startup

we are in a technology revolution era and most educational service are online, lectures are recieved remotely and paysit offers a platform to aquire mobile connectivity via data purchase

02.05.01 My startup contributes to the Gender equality goal

4

02.05.02 Gender equality - Justification for my startup

Through our platform, women have equal access to financial services and can participate in economic activities without barriers. even as a startup of five individuals, we have a lady at the center of our operations

02.06.01 My startup contributes to the Clean water and sanitation goal

2

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

7 - Strongly Agree

02.07.02 Affordable and clean energy - Justification for my startup

we provide electricity bills payments on our app and users can stop using generators at home

02.08.01 My startup contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification for my startup

PaysIt contributes to the Decent Work and Economic Growth goal by fostering entrepreneurship and creating opportunities for sustainable employment. Through our platform, small startups and businesses can efficiently collect payments without extra charges, reducing operational costs and promoting business growth. By supporting the growth of these enterprises, PaysIt contributes to job creation and economic development within communities. Additionally, our commitment to providing cost-effective solutions for startups enhances their financial stability, enabling them to offer fair wages and benefits to their employees, thereby promoting decent work practices. Overall, PaysIt plays a vital role in driving economic growth and promoting inclusive employment opportunities, aligning with the objectives of the Decent Work and Economic Growth goal.

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

ur commitment to continuous improvement and user-centric design ensures that we stay at the forefront of technological innovation, driving progress in the financial industry and beyond. Overall, PaysIt plays a crucial role in advancing industry innovation and infrastructure by leveraging technology to create innovative solutions that benefit businesses, individuals, and society as a whole.

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

4

02.11.02 Sustainable cities and communities - Justification for my startup

02.12.01 My startup contributes to the Responsible consumption and production goal

3

02.12.02 Responsible consumption and production - Justification for my startup

02.13.01 My startup contributes to the Climate action goal

7 - Strongly Agree

02.13.02 Climate action - Justification for my startup

Yes we operate carbon free

02.14.01 My startup contributes to the Life below water goal

3

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

6

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

3

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.

3

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

3

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.

6

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

2

06.08 Justification for my startup

our product is a master solution to existing solutions

06.09 Competitive Analysis

Our main potential competitors include existing payment platforms and financial technology companies offering similar services. However, what sets PaysIt apart is our unique focus on providing a unified payment platform that not only caters to individual users' needs but also supports small startups and businesses.

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