Funding
Funding not disclosed
Founders
Product
Problem
Cross-border transactions often involve complex currency exchange processes, leading to unpredictable costs and inconvenience for travelers. This friction hinders seamless international spending and can result in users carrying excessive cash or relying on less favorable exchange rates.
Solution
Zennopay provides a QR-based payment solution that enables users to transact internationally directly from their local bank accounts. By scanning QR codes at merchant locations abroad, users can settle payments in the local currency without needing to pre-exchange funds or manage foreign currency accounts. The platform integrates with existing local payment methods, simplifying the process of international commerce. Additionally, Zennopay offers a rewards program to incentivize spending and enhance the value proposition for its users.
Target Audience
The primary users are individuals traveling internationally who seek a convenient and cost-effective method for making payments in foreign countries.
Features
- QR code scanning for initiating international payments.
- Direct debit from user's local bank account for transaction settlement.
- Real-time conversion to local currency at point of sale.
- Rewards program offering cashback and merchant discounts on spending.
- Bank-grade encryption for secure transaction processing.
- Compliance with regulatory standards for financial transactions.
- Expansion roadmap targeting Southeast Asian markets, starting with Thailand.