Simpel is a mobile payment app where the customers pay to the merchant using credit card/debit card/bank account by just typing/selecting merchant’s phone number and amount. It’s a PCIDSS compliant safe, secure and convenient app.
Founder: Subhradeep is BE (Computer Science)/MBA (IIML)
Founder: Prashant BTech is (IIT D)/MBA (IIML)
They have worked in tech firms like IBM, Deloitte, Infosys, Headstrong and in retail banking and mobile banking at ICICI Bank.
Immediate market opportunity: Home delivery: $7.5 Bn
ECom COD: $2.3 Bn
Cabs: $2.4 Bn
Direct Selling: $2.2 Bn
Others: home services, individual as merchants, stalls (at fair and exhibitions) or temporary shops
Industry and Competition:
Key alternatives: Wireless POS machine, MPOS devices like M swipe, Ezetap and other payment app solutions like Qwikwallet, PayUMoney
We charge a MDR from every merchant on transaction amount through Simpel. We will be introducing Marketing for our merchants at a later stage and that will be another revenue stream for Simpel.