THE SGPAY E-PAYMENT PLATFORM

‘’Singapore has the “right ingredients” to be a Smart Nation, but it lags behind other cities in certain areas such as electronic payments, said Prime Minister Lee Hsien Loong.‘’

The above statement is what makes Singapore a very good zone for the development of e-payment services even though other platform are trying to reap the benefit of such sector, they particular seem to lack one or two features that holdS them back for the diverse number of users in that region. Applications like NETSPay, DBS PayLah , and CoinHako have actually succeeded in attracting a particular number of population in that regions with either point of sale (POS), bank online transfer or the later supporting cryptocurrency but all these applications lack a concrete system and seem to be lacking a combined feature to support all payment services

Singapore been an innovative region with high tech usage intends to achieve an e-payments and a ‘cashless’ society. The country is already experimenting with QR code for Singapore (SGQR) and also pushing for more innovative ideas. The Sgpay Platform intends to use that opportunity to bring a 3rd Generation Wallet that is going to be used for both E-payment and E-wallet Services in that region

Sgpay platforms is a 3rd generation e-wallet and e-payment mobile application that allow users to buy and sell cryptocurrencies, or make purchases using cryptoccurrency or fiat currencies. The aim is to make Sgpay the leading e-wallet and e-payment mobile application for everyone living in Singapore and beyond. It aims to support various payments through merchant and other companies. Customers will be able to pay for groceries pay flight ticket and more using Sgpay with either cryptocurrency or fiat as a mode of payment. It Combines Cryptocurrency with Fiat thereby bringing about a seamless method for transaction and also reduce the burden of using different account for various services. The aim is to Provide a payment method that serves the need of all other activities using a single platform

SGPay is integrating it payment services and APIs to to other merchants to provide more and diverse services and also increasing the usage of such platform among the users. SGPay will be marketed as a ‘normal’ payments platform so that users of the platform who are not familiar with cryptocurrencies will be encouraged to dip their toes in it. This strategy will enable it to capture a large portion of the market that would not normally purchase cryptocurrencies.

The E-Payments industry holds great promise for firms who are able to secure a solid foothold in the market. Cue the valuation case for MC Payments – which was recently acquired for US$59 million (S$80 million) therefore SGPay aims to build a strong unique selling proposition (USP) through its integrated services and through partnerships with both technological innovators and traditional firms. They are exploring potential partnerships with at least one of the local banks.
The integration of traditional sectors of insurance, general retail, transport, travel and recreational industries on our platform will generate much more support and potential revenue compared to outdated payment models. This brings us next to the relative valuations of blockchain projects in Singapore.

SGPay is an e-wallet that allows users to buy and sell cryptocurrencies. It has an inbuilt incentive system that awards lower transaction fees to users who hold more SGPay tokens. SGPay will allow its users to also make transactions using its tokens, and to pay for value-added services on the platform. SGPay is a utility token built on the ethereum blockchain in accordance with er-20 standard to be used primarily on SGPay platform. The Features of the SGPay Wallet Include:

• 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 SGPay Token is an ERC20 compatible token on the Ethereum blockchain. It is promoted and used on SGPay, associated business platforms and partner merchant outlets. Token holders enjoy various incentives such as lower transaction fees when buying or selling cryptocurrencies on the SGPay platform.
Other Information about Sgpay Token and Sales:

• Token Name: SGPay Token [SGP]
• Total Supply: Up to 13.8 million
• Total Public Supply: Up to 10 million
• Pre-Contribution Period: 1st Feb to 14th Feb 2018
• Pre-Contribution Supply: 2 million tokens @ US$0.40 each
• Main-Contribution Period: 1st Mar to 31st Mar 2018
• Main-Contribution Supply: 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
• Accepted Currencies: Ether (ETH)
• KYC/Whitelisting: Yes

SGpay is aiming to replace the lack of a current payments platform that matches or comes close to the success of AliPay in China and PayTM in India

SGPay RoadMap

More Information
SGPay Bitcointalk Ann Thread https://bitcointalk.org/index.php?topic=2804879
WhitePaper https://www.sgpay.org/sgpay-whitepaper-final.pdf
Website https://www.sgpay.org/
Telegram Official Group http://t.me/sgpay/