Project Title : DO IT
Project Cost: 50 million RM
Amount Invested :
Amount Required : 15 million
Knowledge / Experience Required: general management
Proposed Investor’s Role: part-time; as consultant
Industry: informatics / multimedia; financial services
Project Stage: start-up
ImASIA Group of Companies through its ImASIA Mobile is looking for partner to participate in Mobile payment and transaction ecosystem. Our global payment and transaction technology have been designed to improve both convenience and safety for consumers, businesses, financial institutions, MNO, MVNO, MVNE and governments, enabling them to use digital currency via they mobile instead of cash, credit cards, debit card and checks.
Our Technology “Do IT”, is a fully legal payment instrument that is implemented with general principles similar to those of payment cards,using a four party transaction scheme. However, “Do IT” is an entirely new solution that takes advantage of the best characteristics of payments cards, alternative payment methods, and mobile telephony, thus opening up new possibilities and features unseen to date in competing payment instruments.
“Do IT” represents an opportunity to provide new services and payment products, enhancing consumers payment experience. Our “Do IT” technology transforms automatically any existing mobile phone, in an all-in-one transaction instrument, with no need of phone modification or new software, that make our solution totally independent of Mobile Network Operator (MNO) and mobile manufacturer. Our solution immediately work with any mobile phone in the market, enabling consumers to collect and redeem bonus points, pay for products and services, top up the balance on pre-paid phone accounts, pay bills, redeem coupons, send and receive funds, use mobile tickets (or in you case buy collect, redeem or validate air line Ticket), and buy and send electronic gifts.
Compared to other innovative technology, our “Do IT” solution is substantially more secure than other services currently available on the market. Transactions are executed over a special communications channel, which is a part of the GSM network eco-system, and the user is identified on the communications transport layer (mobile phone MSISDN) as well as on the application layer (unique to the user PIN) which ensures system access security.
The ImASIA Mobile Network is very cost effective in setup and operations for telecommunications operator, and the merchants, which provide an easy integration and gives access to a complete variety of services, including merchant offers that are tailored to consumers\’ lifestyles and locations, transaction alerts and mobile payments at the point of sale and on the go, to improves consumer purchase experience and security.
The primary benefit for us and our partners is focused on new revenue stream, essentialy from each transactions, platform fees, terminal rental, and the potential for new customer acquisition as an additional benefit for us and our partners. If the merchant acceptance infrastructure becomes widely available, consumers may view the technology as a convenience and purchase products or services that are \”Do IT\” enabled, which will increase customer retention. With \”Do IT\” , we will focus on it\’s core competencies and minimize for our partners the risk and cost of new infrastructure, as well as fraud, privacy and risk as management are handled by ImASIA Processing Center, a trusted platform. Therefore, we would like to follow up and explain further to your group on the above system and its huge potential opportunities.