Thursday, March 15, 2018

SGPAY -- GENERATION TO THREE MOBILE E-WALLET AND E-PAYMENT APPLICATIONS

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The e-Payments industry is very promising for companies that are able to implement it solidly in the market. Cue assessment case for MC Payments - recently acquired for US $ 59 million (US $ 80 million) This sector promises a lot because the next milestone for the industry is the third-generation wallet platform that hosts payments, cryptographic transactions and service integration.

Singapore itself is "the right material" to be the Smart Nation, but lags behind other cities in certain areas such as electronic payments, Prime Minister Lee Hsien Loong said. The above statement highlights the country's integrated push for e-payment that opens up more opportunities for new payment platforms to flourish. Payment systems that integrate technology and new trends such as crypto have a much greater opportunity to offer a unique proposition for today's market. Even 2 or 3 market players in the industry will still generate interest / profits from potential buyers and collaborators. This is due to the backward payment industry today.
Singapore is rapidly becoming the preferred crypto center. Fintech-friendly status, government grants and accommodative establishment of Initial Coin Offerings (ICO) have made it a favorite for fintech companies coming to Singapore. MAS also takes an accommodative approach where compliance and security regulations apply when considering specific rules for future implementation. The crypto community in Singapore is also quite active and this leads to a growing market for service providers associated with blockchain technology. However, the market is immature and many service providers also concentrate on overseas markets (similar to e-payment payments). There is an opportunity to normalize, dominate and create a unique selling proposition (USP) in order for this project to succeed based on the current environment.

Features

Accessible from mobile devices on Android and Apple iOSToken decentralized in blockchainCold-Storage style wallets protect up to 99% of crypto assets stored with usSupport for transactions involving cryptocurrencies like SGPay Network Token, Bitcoin, EtherSupport for deposit / withdrawal of SingaporeAPI Dollar built to support exchange of merchant funds and full Access users for users above their private key (platform will not save key) Support for debit and credit card during e-payment phaseIntegrated integration with industry leaders from the fields of Insurance, Travel and otherMonitorized monetary rewards system built on platformSupport for locally developed cryptocurrencies such as Kyber Network Crystals, Zilliqa Tokens and moreThe complete feature set SGPay will be developed in stages.

The thing that pushed SGPay into '3rd generation' e-wallet and e-payment is caused by 3 factors:
  • The government's push towards electronic payments and the 'non-cash' community will provide the public infrastructure and much-needed support to the SGPay platform
  • The absence of a current payment platform that matches or approaches the success of AliPay in China and PayTM in India
  • MAS's regulatory approach to cryptocurrencies in Singapore that will assist in general acceptance and adoption of implementation on the SGPay platform


SGPay aims to put SGPay in the hands of everyone and it can play well from the consumer to the merchant's corner. Because all merchants are consumers by the way but not all consumers are merchants, we believe it's important to drive customer integration beyond just merchant integration.

The solutions offered by SGPay and its tokens are:
  1. SGPay is an e-wallet that allows users to buy and sell cryptocurrencies. It has an inbuilt incentive system that provides lower transaction costs to users who hold more SGPay tokens. SGPay will allow its users to make transactions using its token, and to pay for value-added services on the platform.
  2. The addition of SGPay to the payment ecosystem also gives users greater choice and diversity for payments in Singapore and Asia. There is a lower possibility of one e-wallet that gains monopoly power and imposes unfavorable requirements for the user.
  3. SGPay will advocate the use of cryptocurrency for regional payments. This creates a more familiar environment for users who already feel comfortable with e-payment applications. Now crypto is promoted and supported on popular payment apps, its use will increase by itself.

SGPAY TOKEN

SGPay Token is an ERC20 compatible token on the Ethereum blockchain. It is promoted and used on SGPay, related business platforms and partner merchant outlets. Token holders enjoy various incentives such as lower transaction costs when buying or selling crypto on the SGPay platform.
Why blockchain Ethereum? SGPay chose to build SGP in Ethereal blockchain because it brought benefits such as decentralization, security, transparency and lower transaction costs. It is also the preferred blockchain network of many large companies like Microsoft and UBS that are part of the Enterprise Ethereum Alliance.
Why choose Singapore? Singapore made a great launching pad for the development and implementation of the SGPay function. Many payment providers have ignored Singapore as a potential market because of its relatively small market size. However, they failed to recognize Singapore's ability to quickly adopt innovative technology due to its highly educated workforce and tech savvy population. Singapore is also the leading financial center of Asia with one of the highest GDP per capita in the world. The Singapore government recently advocated a national push for electronic payments that will increase investment and acquisition opportunities in the sector.
Goal of SGpay Token? SGPay's goal is to make SGPay a leading e-wallet and e-payment mobile application for everyone living in Singapore and the region. Customers will be able to pay for their purchases, buy movie tickets, book flights and more with SGPay. They will also be able to choose their preferred mode of payment, either in fiat currency or cryptocurrency at selected merchants.
  • Token Name: SGPay Token [SGP]
  • Number of Supply: Up to 13.8 million
  • Total Supply: Up to 10 million
  • Pre-Contribution Period: 1 February - 14 February 2018
  • Supply Pre-Contribution: 2 million tokens @ US $ 0.40 each
  • Main-Contribution Period: 1 March - 31 March 2018
  • Main Contribution Offer: 8 million tokens @ US $ 0.50 each
  • Soft Cap: US $ 0.8 million
  • Implied Market Cap: Up to US $ 4.8 million
  • Minimum Contribution: 1 ETH
  • Maximum Contribution: 100 ETH
  • Currency received: Ether (ETH)
  • KYC / Whitelisting: Yes
If you want to know more about this SGPay please visit the following website:

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