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Note: This proposal accepts overfunding; remember it is optional whether the proposal owner decides to accept any overfunding commitments.
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Why Zink Pay?

Why invest?

Zink Pay is a complete end-to-end payments and reconciliation disruptor for any payments made with cheques, post-dated cheques or cash. It eliminates people’s reliance upon the traditional cheque and cash-based system and moves the market’s mind-set to monthly payments. We are a company that is solving a real-world pro ... see more.

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The Team

Co-Founders & Co- CEOs
Head of Delivery
Director of Strategic Partnerships
Senior Project Manager
Lead Architect
Marketing Director
Meet the Team

Zink Pay is a payments disruptor which eliminates people’s reliance upon cheques and cash and moves the market’s mind-set to monthly payment

Why Zink Pay?

Zink Pay is a complete end-to-end payments and reconciliation disruptor for any payments made with cheques, post-dated cheques or cash. It eliminates people’s reliance upon the traditional cheque and cash-based system and moves the market’s mind-set to monthly payments. We are a company that is solving a real-world problem in the UAE and across the MENA+ region.

No person in the region should be forced to pre-pay for essential services such as rent, utility bills, insurances, education, etc. We believe that if you get paid monthly – you should have an option to pay your bills monthly – a payment option that has existed in European countries for decades.

Zink Pay’s direct debit has numerous benefits for any type and size of business. Designed to simplify payments management, Zink Pay’s direct debit services removes the headache of late payments, giving businesses confidence in their cashflow and reducing their operating costs.

Zink Pay significantly reduces the costs for Billers to process a cheque (from $5 to $1.5 per cheque – 70% savings) whilst at the same time reduces the risk of a failed payment. This allows businesses to spend less time, money and resource chasing payments, which takes away from higher value work and any plans for growth. By offering a direct debit payment option it helps businesses retain existing customers and attract more new customers.

Zink Pay is fundamentally changing how payments are made for essential services in the region by eliminating people’s reliance upon the traditional cheque and cash-based system while moving the market’s mind-set to monthly payments.

Return on Investment:
Any investor who invests in this round will see their investment increase by 4x within the first 6 months, based upon our Simple Agreement for Future Equity (SAFE) that we have in place with a UK based VC. It is estimated that an investor will experience a 25x return in 3 years.

The Team:
Our experienced executive team is leading the company powered by accelerated innovation, operational excellence and strategic execution whilst positioning Zink Pay at the forefront of this dynamic recurring payments ecosystem.

Undervaluation:
The market is already recognizing the company's true value as the company’s valuation has increased 260% across the span of only 6 months with an imminent product launch, strategic partners, a large and growing wait list of Billers and Payers, and clear signs of customer acquisition and revenue growth.

Market:
Zink Pay intends to have 10M+ active account within the first 3 years, earning a minimum of $1 USD per account per month.

Advantages:


  • Zink Pay’s cutting-edge technology and evolving competitive advantage in the market.

  • Leveraging state of the art core banking system.

  • First aggregated payments solution that offers alt payment solution B2B B2C and C2C.

  • Targeting countries that have few players in the market.

The Business

The Problem

The UAE and other MENA+ countries are still heavily cash and cheque-based economies. It is a legacy payment system that is slow, inefficient, and costly for businesses, customers, and the overall economy. Most businesses still require cheques for rents, utility bills, insurances, school fees and auto leasing to name a few. In the UAE this year alone, approximately 1.8 million cheques per month were exchanged with an average monthly value of AED 80 billion.

The Solution

A fully secure cloud-based platform and mobile application that eliminates people’s reliance upon cheques and cash to make payments. It is designed to make it easier, more efficient, and more secure for businesses to collect payments, while providing their customers with a simple, safe, and secure payment option for their regular payments or once-off payments. It is an aggregated solution that works for B2B, B2C and C2C. Zink Pay – a solution designed to eliminate a real-world problem.

Our Mission

Zink Pay's mission is to replace post-dated cheques and cash payments with monthly direct debits as is the case in the western regions of the world. Our goal is to shift the market to monthly payments which will provide better cashflow management to companies, start-ups and individuals who want to make a life in the region.

Fact file

Proposal ID: 10819
Closing date: 10 Jun 2022
Stage: Overfunded
location: United Arab Emirates

Zink Pay is a complete end-to-end payments and reconciliation disruptor for any payments made with cheques, post-dated cheques or cash. It eliminates people’s reliance upon the traditional cheque and cash-based system and moves the market’s mind-set to monthly payments.

Direct Debit has largely replaced cheques in most of the European economies. The UAE economy has started the process of moving away from cheques in favour of a UAE Direct Debit System (UAEDDS). Zink Pay is on a mission to facilitate the region's transformation from a cheque and cash dependent payment system to a simple, safe, and secure way to make payments in line with European economies.

Zink Pay is a combination of a web platform (for Billers) and a mobile application (for Payers) that will allow Billers and Payers to move away from cheques and move to a monthly billing system.

The process of collecting, processing, and storing post-dated cheques is very expensive for Billers, not to mention the 1.1M+ cheques that bounce annually. Zink Pay significantly reduces the costs for Billers to process a cheque (from $5 to $1.5 per cheque – 70% savings) whilst at the same time reduce the risk of a failed payment.

Our research has shown that Billers who offer a monthly direct debit payment option retain a higher percentage of existing customer while attracting more new customers.

Zink Pay will operate in the UAE and across the MENA+ region in real estate, schools, auto leasing, insurance, subscriptions, and any other recurring payment sector. Zink Pay aims to be in 5 countries within the first 3 years, including UAE, KSA, Egypt, Pakistan and Indonesia having an estimated 10M+ active accounts.

The Company will earn a minimum of $1 USD per account/month with an individual Payer having multiple accounts such as rent, school fees, auto leasing, insurance, subscriptions, and any other recurring payments. With the region having a population in excess of 635.5M people we estimate that there is huge potential for Zink Pay to gain 10M+ accounts in 3 years.

  • Technology & Development: 20%

  • Business Development: 15%

  • Salaries & New Hires: 30%

  • Operations: 35%
  • The following exit strategies have been considered and approved by the Board of Directors:

    1. We anticipate a possible acquisition by a global competitor taking place over the next 3 years, which is very likely to yield a high multiple exit to any shareholders present at the time.

    2. We aim to pay all shareholders an annual dividend whenever possible. This shall ultimately be at the discretion of the Board of Directors, who will approve the dividend payment based on the Company’s annual performance.

    3. The Board, in its sole discretion, may offer a Share Buyback to all shareholders investing in this round under the Eureeca platform 3 years following the issuance of shares. The price per share at which the Buyback will be offered shall be determined based on the market value of the Company at that point which we conservatively estimate to be circa USD$250M.

    4. Subject to the Company making positive traction in the marketplace and increasing its value, the Board in its sole discretion may continue operations for another 24 months prior to considering any buyout from third parties.

    5. The Board in its sole and absolute discretion may determine to move forward on an Initial Public Offering (IPO). Such form, structure and terms of any transaction(s) and/or offering(s) to effect the IPO including the timing and conditions to the consummation of the IPO shall rest within the purview of the Board.

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