In this update we would like to cover product development updates, event updates as well as upcoming feature plans. We are also looking for local partners, if you have access to a gateway or banking partner in your area and would like to become a licensed partner of Beluga Pay please schedule a demo from the homepage https://www.belugapay.com.
We believe there are lots of opportunities with banks and credit unions that do not currently have the digital tools to launch their own e-commerce, card issuance and mobile point of sale platforms.
Money 20/20 Las Vegas 2019
Last month we attended Money 20/20 and had several positive meetings. The obvious takeaway is that digital-first banks are capturing a large segment of newcomers/millenials into the market and the big banks and brands are taking notice.
The event was very international with a lot of representation from banks and potential partners in Latin America, Eastern Europe and South East Asia. We believe these emerging markets could hold important partnerships for Beluga Pay.
We have seen a trend of digital-only banks and we believe we could fill this market gap by offering our platform to help digitize existing banks. The risk is that a lot of the large banks already have internal platforms that handle e-commerce, card issuance and mobile point of sale terminals. After attending Money 20/20 2019 in Las Vegas in October we discovered that the market fit may be with Tier 2 or Tier 3 banks in emerging markets.
Beluga Pay Card Issuance Platform
Since March 2019 we have been focused on developing the Issuing Platform that allows end to end management of cards. The system is currently in a private beta where we are testing the different functionalities.
The Beluga Pay Card Issuance features include:
- Adding administrators
- Managing card limits
- Reversing transactions from an admin panel
- Basic mobile app for card balance, history and management
We expect to go live in Q2 2020 with Carnet which is card accepted all over Mexico. This will allow us to speed time to market and test the live platform with transactions. Following the successful launch of the Beluga Pay Carnet cards we will seek a partnership with a leading credit card company depending on rates and overall structure of the partnership.
Beluga Pay E-Commerce Platform
The Beluga Pay E-Commerce is live and operational. We have two test clients that have started making live transactions processing VISA and Mastercard. The dashboard we have built supports:
- Onboarding of merchant’s developers with sandbox environment
- Backoffice for KYC/AML and administration of new merchants
- Transaction and user management for merchants
aOur goal with the E-Commerce platform is to license the dashboard to other players in the fintech space to help them speed time to market. In order to benefit from this platform, partners should have an existing banking gateway relationship or an acquiring bank.
We continue to develop the BBI Staking system that will allow staking and network fees. We expect this to be live and in production by mid 2020. Please watch out social channels for announcements on beta testing in the upcoming months. We plan to also add master node capabilities so people could host decentralized anonymized payment data which could be valuable for merchants.
Thank you for your support on the Beluga Pay project. We continue to develop the necessary tools to become a turnkey solution for all things payments. Money 20/20 was a great opportunity to connect with potential leads and potential partners.
If you have an interest in further licensing details on the Beluga Pay platform and have an existing commercial banking relationship visit us at https://www.belugapay.com and schedule a demo.
Thanks again and until next time!