Vertical Ecosystem Solutions
Waxd is revolutionising industry ecosystems
THE TRANSPORT REVOLUTION
Waxd is revolutionising the informal taxi industry in South Africa:
Taxi Owners lose between 30% and 50% of the daily takings in their businesses to cash leakage. If this is extrapolated to monthly takings across the entire taxi industry in the country the loss is unimaginable.
The taxi industry has no real means of accurately reporting on the industry to drive investment as there is a lack of visibility.
The need to deal in change for cash payments while on the move is inconvenient and a commonly known challenge for every commuter.
Taxi associations lack any real way to manage and govern because of lack of business visibility.
By establishing a closed loop Taxi ecosystem that includes the peripheral services that support the minibus taxi industry Waxd is able to supply the taxi industry with a cashless payment solution that meets the need of different stakeholders in the ecosystem - from commuters to drivers, to owners, merchants and retailers.
Waxd is providing a cashless solution to the bus industry in Africa:
Bus services in Africa face many challenges, and one of the most challenging is a reliance on a cash-based fare collection system. Other challenges include:
A lack of information for government departments responsible for transport planning, as well as for vehicle owners regarding passenger and route details.
Vehicles owners have little control over their vehicles’ utilisation and cash flow.
In countries where subsidies and concessions are provided by government, there is a lack of information on passenger numbers.
When fares are collected in cash, bus drivers are at risk of theft or harm by criminals.
Waxd's POS Ecosystem provides reliable fare collection technology that solves the cash challenges in transport. Our device has built-in GPS and accelerometers, which can be used to provide better fleet information.
• Each payment transaction is stamped with a GPS tag that can track passenger traffic per area, and highlight the most profitable and poorest performing routes.
• With the accelerometer it can quickly be determined if a bus has an accident and how many passengers may be in the bus, and monitor how busses are being driven.
• With the device GPS we can monitor busses and the routes they run with GEO fencing, offer interactive schedules for passengers linked to commuter apps, and track bus mileage every month linked to maintenance schedules.
• As each driver is required to use biometrics to activate the device before shift, the device activation can be linked to time and attendance, so we can monitor how much fare each driver brings in everyday, and better remuneration schemes can be put in place to reward the most profitable drivers.
• Waxd's POS provides better visibility on best performing vehicles, which has a positive impact on vehicle profitability and vehicle reliability, and missed schedules and breakdowns are also properly monitored.
THE AGRICULTURE REVOLUTION
There is an ever-increasing need to invest in agriculture. This is due to a drastic rise in the global population and the changing dietary preferences of the growing middle class in emerging markets in favour of higher value agricultural products. In addition, climate risks increase the need for investments to make agriculture more resilient to these risks. Challenges in agriculture financing include:
• High transaction costs to reach remote rural populations
• Covariance of production, market, and price risks
• Absence of adequate instruments to manage risks
• Low levels of demand due to fragmentation and incipient development of value chains
• Lack of expertise of financial institutions in managing agricultural loan portfolios
The World Bank estimates that agricultural development is 'two to four times more effective in raising incomes among the very poor than growth in other sectors.' Not only is this a high-impact sector, it’s also a large one. Farmers account for more than 30% of the global working-age population, and most of them live in poor countries.
Through our innovative biometric solution, Waxd aims to aid micro-finance companies in managing some of the risks associated with micro-financing small farmers. We do this by ensuring that the release of funding is based on completion of farming activities, which helps the micro-lender manage the ecosystem that the farmer is reliant on for their inputs and services. We give micro-lenders the mechanisms they need to control the farming process, thereby enabling farmers to meet their financial responsibilities. We also minimise the need for any payments to be made in cash, keeping transactions simpler and cheaper in more rural areas.
Waxd enables the agriculture industry in two key areas - the management of micro-financing for informal farmers through a cashless agri-ecosystem, and enabling informal farmers to get goods to market through a cashless logistics network.
THE RETAIL l FMCG REVOLUTION
Supply Chain is at the heart of every business – it is a system of organisations, people, activities, information and resources that are involved in moving products or services from suppliers to customers. It may include the transformation of natural resources, raw materials and components into a finished product. Effective and dynamic supply chains are particularly important in fast moving consumer goods (FMCG) sectors, where products have high volume, fast turnover or are frequently purchased - and where goods have a short shelf life, either as a result of high consumer demand or because the product deteriorates rapidly.
In Africa the logistics around the informal market can be particularly challenging as distribution channels are wide and varied, and not digitised, with a lot of manual tracking of goods. Waxd enables FMCG supply chain in the informal sector through the following features:
Mobile Invoicing - This is done via SMS/MMS for the merchant, and a history of all transactions and stock can be found on the app.
Reporting and Tracking – Once transport agents and informal merchants are loaded into the system, all transactions are rich with information and are recorded to the system.
Cashless – Informal merchants and consumers can deposit funds at participating retailers, ATMS or via EFT. Once their wallet is loaded, transactions are done by simply placing their finger on the POS device.
QR Codes – Our POS device has the capability to generate QR Codes on its screen. This will enable merchants to receive payments from consumers with QR code APPs like Snapscan.
Connectivity – Apart from the Waxd POS being able to do offline transactions, it has an advanced network roaming SIM that does not depend on connectivity from only one provider. This means the device can roam across multiple networks across Africa.
Inventory Management Lite – Our POS device feeds information to the Waxd backend system. Products can be identified via barcodes. The inventory system can keep track of individual product levels in transit, informal merchants and consumers. Consumer stock is used to see the total product purchases a consumer has done, where and when the purchase was made, and how much it cost.
Simplicity – The device was designed for the informal market. Most transactions are performed in 3 simple steps.
GPS enabled – All transactions are stamped with a GPS location. The GPS also allows for tracking, which produces powerful location-based information and valuable data and analytics.
We Integrate With Your Ecosystem
Waxd offers innovative solutions that are customer-specific and suit the cashless payment requirements of businesses across many different ecosystems. Our POS Ecosystem has been proudly made in South Africa for Africa, and our team is always available to partner with like-minded clients who share our passion for driving financial inclusion, or are looking for innovative solutions to take their businesses to the next level.