Shocad is a digital payment app that allows families to manage school bill payments through pay-now and pay-later options, offering rewards for each transaction. The platform enhances financial flexibility by enabling users to make payments from anywhere while ensuring secure transactions through partnerships with Mastercard and Microsoft.
Funding
$200K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many families struggle to manage school bill payments effectively, often facing challenges with timing and cash flow. Traditional payment methods may lack flexibility and fail to offer incentives for timely payments.
Solution
Shocad is a mobile application designed to streamline school bill payments for families by providing both immediate and deferred payment options. The platform allows parents to pay school bills from any location, offering no-cost EMI options to better manage expenses. Shocad provides rewards for each transaction, incentivizing users to pay on time. The app ensures secure transactions through partnerships with Mastercard and adherence to cybersecurity best practices, including end-to-end encryption.
Target Audience
Shocad primarily targets parents of school-aged children who seek a convenient and flexible solution for managing and paying school-related expenses. The app is currently available to parents from select schools.
Features
- Pay-now functionality for immediate school bill payments.
- Pay-later option with no-cost EMI for flexible expense management.
- Reward system for each transaction made through the app.
- End-to-end encryption for secure communication and data protection.
- PCI DSS compliant payment processing.
- Integration with Mastercard for secure transactions.
- Mobile app available on both Apple App Store and Google Play Store.