PriceLOCQ provides a platform for consumers to lock in future purchase prices on retail goods across various e-commerce sites. Users secure a guaranteed price today, mitigating risk from future price increases or volatility. This service offers consumers predictable budgeting and cost certainty for planned online purchases.
Funding
Funding not disclosed
Founders
Product
Problem
Fluctuating fuel prices create uncertainty for consumers and businesses, making it difficult to budget and manage transportation expenses effectively. Traditional methods of purchasing fuel offer no protection against price hikes, leaving users vulnerable to market volatility.
Solution
PriceLOCQ is a mobile application that allows users to purchase fuel at the current market price and store it virtually, effectively locking in the rate and shielding them from future price increases. Users can buy liters of fuel in advance and redeem them at participating stations even after prices have risen. The app also offers discounts through a scan-to-pay feature, providing savings when fuel prices decrease. By providing a virtual fuel tank, PriceLOCQ empowers users to take control of their fuel expenses and mitigate the impact of market fluctuations.
Target Audience
The primary target audience includes individual consumers and business owners in the Philippines who seek to manage and reduce their fuel expenses by leveraging a mobile platform to lock in prices and access discounts.
Features
- Buy Fuel: Purchase fuel at the current price and store it for later use, protecting against price hikes.
- Scan to Pay: Get instant discounts at participating stations when fuel prices are lower.
- LOCQPay: A built-in payment system for safe and hassle-free transactions at partner stations.
- Virtual Fuel Tank: Store purchased fuel virtually within the app until redemption.
- Car Care Services: Book and pay for car maintenance services, such as oil changes, through the app.
- Toll Payments: Reload Autosweep and Easytrip RFID accounts using LOCQPay balance.
- Business Accounts: Tailored solutions for businesses to manage fuel costs and savings.