SGPay - combines- Virtual & Fiat Currencies Into A Seamless Wallet Experience

Februari 23, 2018

SGPay - combines- Virtual & Fiat Currencies Into A Seamless Wallet Experience

"SGPay, the Southeast Asia-based blockchain and cryptocurrency wallet platform, is evolving into an Android Pay-like system for cryptocurrencies, credit cards, and digital tokens"

SGPay token is built on the Ethereum blockchain in accordance with the ERC-20 standard. The SGPay Token (or SGP in short) is built as a utility token to be used on our primary platform SGPay. It will be adopted by our technology partners and affiliated merchants.
Primary platform SGPay is a 3rd generation e-wallet and e-payment mobile application that allows users to buy and sell cryptocurrencies, or make purchases using both cryptocurrencies and fiat currencies. Team objective is to make SGPay the leading e-wallet and e-payments mobile application for everyone living in Singapore and the region. Customers will be able to pay for their groceries, purchase movie tickets, book flights and more with SGPay. They will also be able to select their preferred mode of payment, either in fiat currency or cryptocurrency at selected merchants.

CURRENT COMPETITORS

NETSPAR - Paying leaders are gradually embracing a unified payment culture without cash. Their strength is at the vast point of sale (POS) of legacy systems currently numbering more than 37,000 merchant outlets. Their applications also allow users to get special offers from merchants. See above for a chart of how much mobile payments are made in Singapore.
DBS PayLah - This is a bank's payment application by Development Bank of Singapore (DBS) that allows users to transfer funds via mobile phone number. Their app also lets users make and request funds transfers, pay bills and donate money. However, similar to NETSPay, it lacks a wider service integration that will make it more useful for consumers.
CoinHako - The most popular local cryptocurrency wallet that allows users to transfer fiat funds for Bitcoin and Ethereal purchases. However, wallets suffer high prices relative to the rest of the market, some downtime and also the lack of mobile applications.
SGPays aims to put SGPay in the hands of everyone and this 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.
In addition, merchant integration can be fostered more easily once we have a large user base. The focus of today's payment solution providers providing Point-Of-Sale (POS) systems to merchants is to create a highly saturated market that gives consumers a bewildering array of competitive solutions at the point of payment.
SGPays believes that the future of merchant integration lies in the same applications as consumers who will be using their wallet platform. Such integration also means QR Code will have an important role in play.
Blockchain Capital Pte. Ltd. and its partners will execute mobile strategies primarily to develop assets that can meet market needs.

Aspects

Crypto Transactions: Local e-wallet that supports the most cryptocurrencies.
Online Mall: SGPay will work with their merchant partners to include them in their ecosystem.
Large Partnerships: SGPay will be working with industry leaders from all verticals to provide the best options for their customers.
Stored Balance: Easily send fiat money to other users.

Card Payments: You automatically earn reward points when using their platform.

Full Feature Set

Accessible from mobile devices on both Android and Apple iOS
Decentralized tokens on the blockchain
‘Cold-Storage’ style wallet protects up to 99% of crypto-assets stored with us
Support for transactions involving cryptocurrencies such as the SGPay Network Token, Bitcoin, Ether
Support for deposit/withdrawal of Singapore Dollar funds
APIs built to support merchant and user funds exchange
Full access for users over their private keys (platform will not store keys)
Support for debit and credit cards during the e-payment phase
Deep integration with industry leaders from the Insurance, Travel and other fields
Monetized reward system built into the platform
Support for locally developed cryptocurrencies such as Kyber Network Crystals, Zilliqa Tokens and more

The full feature set of SGPay will be developed in stages. For a more detailed look of when each feature will be implemented throughout our development phase please check out our roadmap in the later part of our whitepaper.

SGPay TOKEN

SGPay Token is an ERC20 compatible token on the Ethereal blockchain. These are promoted and used in 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.

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)