**PayWise Pay (aka PayGo)**

*PayWise Pay* is a payment system designed to:

* help **customers** make payments and gain detailed insight into their spending  
* enable **merchants** to accept payments in TTD and USD currencies, receive USD settlements and target customers with promotions.

**Proposition**

| Taget | Proposition |
| :---- | :---- |
| Customer | make payments and closely track what you purchase |
| Merchant | accept, transfer and spend payments received in TTD and USD currencies |

**Version 1 — Customer features**

| Feature | Refined requirement |
| :---- | :---- |
| Payment methods | Enable customers to pay using Tap & Pay, QR codes and payment links. |
| Card tokenization | Allow customers to securely save a payment card using tokenization for subsequent transactions. Customers can save and select from more than one tokenized payment card. |
| Receipt collection | Allow customers to collect and retain receipts. Support receipts linked to an app payment and receipts recorded independently, including purchases made using cash, cards or a mix of cards and cash. Customers can ‘enter’ receipt information via a voice note or text.  |
| Simple registration | Provide a streamlined customer registration process. |
| Customer profile | Maintain the customer’s name, email address, phone number and date joined. |
| Biometric authorization | Allow customers to authorize transactions using their device’s supported biometric authentication. |

**Version 1 — Merchant features**

| Feature | Refined requirement |
| :---- | :---- |
| Payment acceptance | Enable merchants to accept payments using Tap & Pay, payment links and QR codes. |
| Customer referral | Provide a QR code that merchants can share with new customers to direct them to registration. |
| App and browser access | Provide merchant access through an app and a browser-based application. |
| Bank account linkage | Initially support one linked bank account per merchant. |
| Local settlement | Target crediting the merchant’s local bank account within one business day. |
| Merchant registration | Provide merchant registration through register.paywise.co. |
| Portal and device management | The merchant account accessible via the PayWise portal will manage registered merchant devices, using a device ID and device key. |
| Merchant profile | Maintain the business name, device name, location (optional) |
| Setting | Enable/disable audio notification (copy and paste link into browser) |
| Payment fee allocation | Allow the merchant to choose whether the merchant or customer pays the transaction fee, subject to applicable payment-processing requirements. |

**Future customer features**

* **Receipt data processing:** Use AI to extract and organize information from receipts to help customers track spending.  
* **Cashback promotions:** Introduce promotional cashback; offer \$5 cashback to customers for the first five purchases and/or purchases during the first month.  
* **Announcement channel:** Provide a channel where businesses and customers can interact and businesses can announce rewards and offers. Businesses can be charged for pinned posts or placement at the top of the announcement feed.  
* **Rewards programme:** Introduce a points-based rewards system. 

**Future merchant features**

* **Google Pay and Apple Pay:** Enable acceptance of payments through these wallets.  
* **USD payments:** Add support for USD transactions.  
* **USD bank account connection:** Allow merchants to connect a USD bank account.  
* **USD debit card connection:** Allow merchants to connect a USD debit card.  
* **Audio notifications:** Provide audible transaction notifications.  
* **Hotspot sharing:** Enable merchants to easily share hotspot from within the app.  
* **Reward points:** Introduce merchant reward points.  
* **Batch management:** Provide tools to manage transaction batches.  
* **Website integration:** Allow merchants to receive notification for payments via API or plugin.

**Proposed revenue model**

| Revenue source | Proposed approach |
| :---- | :---- |
| Transaction fees | Earn a margin or spread on payment transactions. |
| Bank transfer fees | Charge a fee for bank transfers. |
| Additional device fees | Include the first device at no charge and charge a fee for each additional device.  |
| Promoted posts | Charge for pinned posts or top-of-feed placement. |
| Reward points | Sale of reward points. |

**Product and development considerations**

* **Brand protection:** Explore appropriate protection and registration for the *PayWise Pay* name.  
* **Future account-to-account payments:** Position *PayWise Pay* as a precursor to future bank-account-to-bank-account payments through Infolink.  
* **Customer and merchant insights:** Use customer and merchant data to identify opportunities to improve engagement and increase usage, with appropriate consent and data controls.  
* **Receipt extraction:** Explore an AI model to extract information from receipt images.  
* **Receipt storage:** Store receipt images on the customer’s phone.

**Intended benefits and trade-offs**

| Audience | Benefits |
| :---- | :---- |
| Merchants | Accept card payments; quick set up; first device free; multiple devices at low monthly fee; accept Google Pay and Apple Pay; transfer USD payment to USD bank account; spend USD via VISA Debit card. |
| Customers | Make payments easily and securely, retain receipts, track spending and earn rewards. |

The main merchant trade-off is higher transaction fee.