A $60 Billion Disruptive Opportunity

A $60 Billion Disruptive Opportunity

To me having another app often causes me more stress than relief. I am on the tale of Generation X and often become overwhelmed with the pace at which the word is changing, and some of these new applications meant to make my life easier seem overly redundant. When I was introduced to the concept of PaySocial I knew I would use it.

This short piece is an introduction to the business opportunity of the PaySocial model, and how you can get involved not only using and promoting the app but pre-IPO if you are an accredited investor.

This new application was designed to be simple solution to banking, allowing immediate, free transfer of funds, incredible savings, the incorporation of GPS and AI to coupons which would notify me of products I like that are on sale, and where in my area. Do I feel like a chocolate bar right now, maybe not but if it is free with a purchase of gas at a location near me on my way home then I will fill up at that station. This application uses AI, GPS, and target marketing to adapt to your needs, to anticipate your spending habits and it does so in a fun, interactive and social platform.

Deposit, purchase and transfer funds free of all transaction costs with a social component. It means when I am watching the football game with my buddy and I loss a bet I can send him the $10 with various amusing and threatening emoji’s, or a picture of my sad faced from my phone. Sync your contacts, add your stores and load your card either from your bank or at a brick and mortar store. The entire solution is fun, social, easy to use and being beta tested right now.

Coffee Commitment

Here is how I looked at it. I only use my Starbucks eWallet because I get a free refill and points towards a future purchase. I know they have trapped me, but I do not mind because I see the value. They have truly captured me and but they have done it with style and given me a bit of a deal…so I am happy about it. Starbucks has updated and shifted their program and Dunkin Donuts, sitting with 10 million users also has an enhanced loyalty program for customers. There is a good article on the site PYMNTS in regard to these coffee programs. The important takeaway is summed up well on the site 47.5 percent – of QSR managers see loyalty programs as a feature that is important to a restaurant’s future success; At the same time, 79.5 percent of customers have the same view. And the approximate share of customers and managers who have a positive view of loyalty programs is 80 percent.

But would I be convinced to use a different, separate app if I was to shop at a grocery store or convenience store?

So all I have to do is download the free app. I can link it to my bank account and credit card to easily transfer money free of charge if I am willing to watch a 15 second video. I can then populate it with my contacts so I can send text and chat with friends. I can send that free to my friend or pay $1 fee for transactions if I do not want the AI tailored short advert. I can also simply use the app in select convenience stores across the US. But what makes it fun is that I can rate products I bought, or recommend them to friends, or tell them that there is a

Just imagine telling someone that you are be able to pay for your meal, groceries, convenience store purchases, and gas with your phone but be notified of coupons, deals and discounts from nearby retailers. Imagine having this wallet that allows you to promote the products you like, save more and send texts to communicate with friends. It becomes an entire solution. You literally market and support the products you love! You save and earn at the same time while taking on no more effort.

Well that is happening today. Amazon owned Whole Foods now accepts Bitcoin and other crypto’s through the Spedn app. Coinnounce reported that Flexa in collaboration with Gemini exchange which is owned by the Winklevoss Twins has convinced Nordstrom, Crate and Barrel & Whole Foods to configure their current payment scanners that they use for other digital wallets like Apple Pay to work with their cryptocurrency payments app called Spedn.

I never carry cash so I am either collecting points on my credit card or just tapping with my bank card. I pay a monthly fee to get unlimited use of my bank card so I wondered who as a merchant would want to accept PaySocial. I wanted to know where I could actually use the app. When I came across this article Kroger expands Ban of credit cards… the nation’s largest grocer is no longer accepting credit cards in order to save on fees! These fees, which can range between 1 percent and 3 percent, add up to $90 billion that retailers pay annually, according to Bloomberg. Can you imagine what a company like Kroger could do for its employees if it was not paying these fees to banks and credit card companies! That is a staggering number!

The PaySocial app has a merchant upgrade which is free which allows merchants like Kroger to transact without any fees, as well. Do you think they would be interested in promoting this app!? I saw in their website that they had an affiliate program and coupons that would notify me of deals and specials on the types of products I purchase. I do not have to sift through physical coupons from flyers they just come to from my app!

What the first step for PaySocial is the partnership with those who do not feel they have a voice. They are the perfect app for hardworking, middle class people that want to save money. I am not the target market for PaySocial but when I found out the charges associated with transferring with Western Union I was astonished, and do not get me started on all the ridiculous convenience fees I pay my bank so they have the right to use my funds. Imagine if you are struggling to get by working two jobs, and eating meals on the bus, or at a stop light; eating a warmed up burrito and milk from a convenience store that you just filled up at.

On March 3 the company announced that it was rolling out its beta app to test the convenience store market.

The PaySocial app is still a private company with full intentions of listing on the LSE and NASDAQ. They are still doing pre-IPO funding. That is a whole other conversation for people who are accredited investors. This is for the investor who sees the videos, likes the partners, and enjoys the risk/rewards of being in a startup with some major players.

The world is going digital. A huge majority already has started that process namely China, and India. Companies finding solutions for the people will be rewarded. Companies that make the solutions seamless, social, fun, interactive and as immersive wallets will find exponential growth and success. PaySocial is on that path, and I look forward to all their developments, milestones and partnerships before going public.

Securities Disclosure: I, Andrew O’Donnell, have been remunerated for writing this article.

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