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KogoPAY: Changing the face of payments

By Dr Narisa Chauvidul-Aw, Chief Executive at KogoPAY. 26th Nov 2019

Kogo PAY cover image

Welcome to KogoPAY

At KogoPAY, we are on an extraordinary journey to change the face of payments in Europe and Asia.

We believe that payments are not just about making money, but about empowering people who travel or work abroad, the unbanked and those who collect money for good causes. Our vision is to make access to fast payments, transfers and money management accessible to everyone. We want to help people handle their money without needing to set up a bank account or to pay expensive commission fees.

KogoPAY will put customers in control of their money with free wallet-to-wallet payments – making it easy to send money to friends – and low-cost currency transfers. We will use AI and data analytic technology to help customers make sense of their spending habits and budgets.

We believe that QR code payments have huge potential. Our network in Asia has enabled us to appreciate the incredible way that QR codes have transformed payments in China, Japan, Thailand and elsewhere. We envision a dynamic ecosystem where market traders, small businesses and charity collectors can use QR codes to accept payment across Europe.

Philanthropy is a key part of our story and we truly believe that KogoPAY is about helping to support small businesses, the unbanked and charity collectors. Our app will incorporate ‘Pay it Forward’ technology so that customers can gift someone with less a free coffee, clothing or another useful item when making their own purchase.

News of KogoPAY is spreading. We recently gained significant coverage across Thailand when I was presented with the Start-Up Award at the Women in Tech Awards in Lisbon earlier this month with Sanook (a consumer website targeted at women), RYT9 (a business website) and Plewseengern (a consumer news channel). I will be promoting KogoPAY extensively in Thailand, including by delivering a lecture to Master’s and PhD students at Chulalongkorn University next week and we will update our Crowdcube followers on our progress.

So what are our plans?

We have recently had our final meeting with the Central Bank of Lithuania for our Electronic Banking Licence. We will secure our EMI license shortly. This was an important milestone, together with our payment licence from the UK’s Financial Conduct Authority.

We plan to launch our App in January and we’re so excited! We have a fantastic team who are working on the user experience and last week announced that Jenny Chong, an AI and data analytics specialist with more than 20 years’ experience previously working as Head of Innovative AI and Big Data at Credit Suisse has now also joined our team.

In designing our solution, we also wanted to ensure that KogoPAY could become the single solution to customer payment needs. This meant that we have given a lot of thought to the payment journey. As a result, we will be offering the KogoPAY prepaid MasterCard which can be loaded with local currency, initially Thai Baht. Offering the Mastercard as well as the app will mean that KogoPAY can be used in larger retail outlets. We have also incorporated a wide range of discounts to popular attractions across Thailand, helping to support our message that KogoPAY is not just a payment system but a lifestyle too.

Our marketing plans include equipping KogoPAY representatives in the UK, Thailand and Lithuania to increase our user base amongst our target customer groups. This will be supported by marketing activity both online and offline in our initial territories.

Thank you for your interest in KogoPAY as we change the face of payments. And we hope you will join us and be part of our exciting journey!

Learn more and invest in KogoPAY, here.

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