Wax’d facilitates transactions between customers and merchants using the customers mobile phone as the payment device. The Wax’d user can directly link their bank account or load a wallet to enable payments
We have created an App & framework that processes Mobile & Online Transactions at a fraction of the cost, by bypassing Visa and Mastercard… When you get your customers to pay with Wax’d, we can put up to 70% of your transactional costs back into your pocket…. Wax’d Ninja doesn’t have to wait for bills, lose signal with speedpoints or refill its paper… Our app gives our Wax’d Ninja the ability to make payments in the easiest & cheapest way possible
With our Mobile App – Wax’d, transactions can cost as little as 0.65% which is a saving of 70% to the merchant. “Waxed” uses existing banking infrastructure to perform an EFT transaction that costs a fraction of the current card systems. These savings can then be passed onto the customer.
This App will allow payments at retailers, Peer to Peer and Internet payments. Making “Waxed” the default payment app for the future. Our payment architecture is more secure than card payments, which will also reduce the cost of disputes and crime. Using iBeacon and/or QR technology, it will be more convenient & secure to pay with “Waxed” than card or existing mobile payments.
For online payments, our app will hold a customer’s personal & delivery details making the online checkout process a 1 click requirement and hence dramatically improving the online shopping experience.
The management team consists of 3 directors and shareholders Anthony, Alex and Alon. Anthony & Alon have been in IT & business analysis for the last 18 years and are both Directors and shareholders of ModusBPS and dotModus. They both have extensive experience in financial services and ERP implementations. Alex is an entrepreneur who came from the mergers and acquisitions industry as a financial analyst. He joined Alon & Anthony 4 years ago & opened a private equity investment company that specialises in turning ideas into reality. He is on the board and owns the majority share of Pylon Gears.
The ability to realise innovative mobile payment methods which requires the following skill sets:
- Innovative marketing
- Innovative ways to create relationship between consumer and merchant
- Innovative ways to create relationship between consumer and markets.
May 2015 – Concept designed by founders
Oct 2015 – Waxed Mobile Payments company founded
Nov 2015 – Development started
Mar 2016 – Patent submission
Mar 2016 – Provisional patent
Jul 2016 – Wax’d Mobile App launch to market