Startup Profile
The problem we're solving
Small business owners are currently struggling with high payment surcharge on each transaction. This payment processing fees and ongoing rentals take a sizable cut from businesses resulting in tight profit margins during a cost of living crisis.
Our solution
Our solution, ShaBaas Pay makes payments a seamless and cost-effective experience for both merchants and end-users. By reducing transaction fees and transaction settlement time we strive to provide a hassle-free payment process that benefits everyone involved. Our payment are not dependant on bank cut off schedules resulting in faster transfer of revenue to businesses. For end users, they earn cashback on making payments at participating businesses.
Our differentiator
Our business model provides a unique approach by utilising smart QR codes to receive invoice payment in real-time at significantly lower payment processing fees. As a sustainable fintech, we offer digital receipts and cashback points to end users for making payments using our ShaBaas Pay App.
Biggest achievement
We have been approved by AUSTRAC as remittance dealer. Also, we have been approved by Australia Payments Plus for enabling real time payments across Australia. We have successfully designed, developed, and launched our MVP in collaboration with established service providers, which serves as a strong testament to our startup's success. Additionally, we conducted beta testing with businesses in a production environment, gathered valuable feedback, and incorporated it into our product offering.
