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SGPay ICO Review : a third generation e-wallet and e-payments mobile application

About SGPay 

SGPay token is a utility token used on SGPay platform SGPay, a third generation e-wallet and e-payments mobile application with a plethora of integrated services. Customers will be able to pay for their groceries, purchase movie tickets, book flights and more with SGPay. The platform would allow users to buy and sell cryptocurrencies or make purchases using both cryptocurrencies and fiat currencies.

Basic Information

Token Name SGPay
Token Symbol SGP
Social Media SGPay ICO Review : a third generation e-wallet and e-payments mobile application SGPay ICO Review : a third generation e-wallet and e-payments mobile application SGPay ICO Review : a third generation e-wallet and e-payments mobile application
Accepting ETH, FIAT, SGD
Token for sale 8,000,000 SGP
Platform Ethereum
Country Singapore
Whitepaper Click Here For View Whitepaper
Website Click Here For Visit ICO Homepage

E payment

The above statement highlights the unified push of the country towards e-payments which is projected to open up more opportunities for new payment platforms to flourish. Payment systems which integrate new technologies and trends such as virtual currencies have a much larger chance of offering a unique value proposition versus the current market incumbents. QR Code Payments are also being brought into the limelight. A newly formed
payments council, set up to look into ways to advance e-payments in Singapore.

Market

The chart above highlights the trend of mobile payments in Singapore – which already holds a substantial lead over other regional markets. Though small in size, the population of Singapore has shown a much higher readiness to embrace new trends in both mobile and electronic payments compared to neighbouring countries such as Malaysia, Philippines, Thailand and Vietnam. This is due to the mature technology field here as well as the fact that every Singaporean owns 3.3 handheld devices (a number that includes mobile phones).

Features

Cryptocurrency

MAS is also taking an accommodative approach under which current compliance and
securities laws still apply while considering specialised regulations for future implementation. The cryptocurrency community in Singapore is also quite active and this leads to an emerging market for providers of services related to blockchain technologies.
However, the market is not mature yet and many providers are also concentrating on overseas markets (similar to the situation of the e-payments market).

Cashless

NETSPay – The incumbent leader in the payments field is slowly embracing the culture of cashless integrated payments. Their strength is in their wide point of sales (POS) legacy system that currently number over 37,000 merchant outlets. Their application SGPay  also allows users to receive special offers from merchants. See above for a chart on how big mobile payments are in Singapore. DBS PayLah – A bank payments application by the Development Bank of Singapore (DBS) that allows users to perform fund transfers via mobile phone number.

Goal

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). The sector itself holds great promise as the next milestone for the industry would be a 3rd generation wallet platform that hosts payments, cryptocurrency transactions as well as integrated services. Even a market player that is 2nd or 3rd in the industry would still generate substantial interest from prospective buyers and collaborators.

Projects

Singapore has been a hotbed of blockchain projects due to a regulatory friendly environment. The following is a non-exhaustive list of projects, the current market price of all issued tokens, as well as a short summary. The tickers for each respective  SGPay project will be listed beside their name. All figures are accurate as of 13th December 2017 and will change depending on market conditions. A gold-backed token built on the Ethereum blockchain. DGX represents a store of value on the blockchain and their token event took place in 2016, raising US$5.5 million.

Team

Member
John Lim LEAD STRATEGIC DEVELOPMENT
Sufi Yusof LEAD BUSINESS DEVELOPMENT
Bryan Ho LEAD MARKETING DEVELOPMENT

Also Read – Click Here for Read All ICO Review

Quote This article is writing on 18 May 2019 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258

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