EverydayMoney is a fintech product that provides financial automation tools to help users balance budgeting and spending, enabling them to build financial resilience and assets for the future. It’s unique value proposition is simple
Get money disbursed to you daily.
In the course of more than one year now, we have been able to transform the product from being able to get money disbursed to you daily, to having you do more with custom disbursement which let you instead move from daily legacy daily disbursement, to weekly or monthly according to your need. Then we let you create flexible budgets for your short term needs; set daily, weekly, and monthly limits on them and automate how the budgets are financed according to your earnings and spending habit. In the same vein, we have also included lock-goals should you ever need to save for a down payment for a house, or want to get married.
Now, we have 200+ people who budget for various needs, out of which most do not save for long term needs like creating lock-goals and it’s understandable at this point because their is currently no reward for savings. Money comes in, and phew! It’s out again except on instances where the user exceeds their left-to-spend money based on the daily, weekly or monthly restriction they have set for the said budget.
That being said, as a company, this affords us the opportunity to know what people budget for the most or by extension what they really care about which presents opportunities for businesses to take advantage of. From the inception we knew we would sell services within an assigned budget. That’s not the same as targeted ads right? I don’t like ads too. Meaning that if you have a budget for Airtime or Data, there you will be able to buy airtime or select your data plan; and within Electricity budget, you will find power companies to choose from and buy power units for yourself. This does two things, for one it reduces the clutter you find in today’s digital bank apps — in their defence EverydayMoney is a budgeting app, secondly it ensures that the money is used for the purpose for which it’s budgeted for.
So, instead of EverydayMoney offering these services by itself, we have created a bridge for other companies to offer this service competitively right within the budgets. This means that anyone can sell anything to EverydayMoney customers. It could be data, airtime or a combination of both, electricity, or it could just be any virtual service that delivers value instantly or could just be a physical product that would be shipped later. This means that the user selects from a list of vendors they want to buy from and depending or the type of services offered, fill up the business’ form required for value to be delivered, EverydayMoney charges the customer, business delivers value within a time frame or payment is reversed. Easy-peasy.
There are two ways in which businesses can take money from EverydayMoney customers from within the app. First, is if you are selling a virtual service such as just taking data from the user and requiring them to pay a fixed or any amount, no coding is required. But if you wish to provide some sort of integration to provide additional processing on the data collected like the airtime-data example previously mentioned, you will be required to host your web-service and inform us how our system will communicate with yours.
The EverydayMoney Business is not open to the public yet, however if you wish to build a business and take advantage of EverydayMoney, you can send an email to contact[AT]everydaymoney.ng.
Download everydaymoney app to start budgeting and spending wisely from GooglePlay and Playstore or visit the official website for more details.
