STARTUP- SPAY

NAME: TANMAY KAUSHIK

CLASS: 11TH-E
SUBJECT: BUSINESS STUDIES
TAGLINE- CASH-FREE STUDENT LIFE
Nature: Financial Services Company
Purpose:
• Digital payment reducing the use to cash and making transaction cashless so
that student don’t have to carry cash to school
• Covid reason for going cashless less change to get infected in school.
• Easy for parents they can also monitor their child monetary usage.
• Parents can give pocket money through digital platforms.
Product & Services:
• Digital Payment services.
• App for Mobile where you can mange your transaction and check you balance.
• A Debit Card which will be used to make payments as school students are allowed to
carry mobile phones.
• For future if they allow mobile phones, one can make payments using QR code
scanner in the App
PRODUCT DESIGN
Unique Selling Proposition (USP)
• Free Debit Cards.
• One tap Payment.
• Student don’t have to worry about carry money, they can only carry a single
card.
TEAM
• A Tech Co-Founder
• Software Engineers (manage website & app)
• Product Managing Team
• Business Development Team
• Finance & Accounting Team
Target Consumer:

• Our target consumers will be school going student.

• Age- 12-18 years
• So, as we know The Indian Education System is one of the largest in the world.
Your target market is very large and we don’t have any competitors.
 INVESTMENT:
Our ask is $500,000 for 2.5% of our company
SOURCE OF FINANCE

• My family invested at the starting. So, I will not be going with Debt Financing
as I already have to payback to my family.
• I would be going with Equity Financing because I also need a Founder who is
excellent with technology.
LEGAL REQUIREMENTS :
SPAY working is like Bank. So, we need all legal permits and licencing from RBI.
The opening of branches by banks is governed by the provisions of Section 23 of the Banking
Regulation Act, 1949 (the Act). In terms of these provisions, banks without the prior approval of
the RBI, cannot open a new place of business in India or abroad or change otherwise than within
the same city, town or village, the location of the existing place of business. Thus it is mandatory
for banks to seek prior approval/licence from RBI before opening of branches/offices –
Commercial banks and Local Area Banks from Department of Banking Operations and
Development, Urban Co-operative Banks from Urban Banks Department, Regional Rural Banks
from Rural Planning and Credit Department.
PROMOTIONAL TECHNIQUES

• Word of mouth
• Social Media platform
• Giving Free Card Swipe machine to Stationaries and Canteens of the schools.
THANK YOU