SmartPay, Inc.

SmartPay^SM is a mobile payment processing platform using optical code identification to facilitate merchant payments across multiple mobile operating systems, using QR Code® optical identification technology. 

To put it more simply, SmartPay^SM  is an alternative to debit and credit cards that allows users to pay for things by simply typing in the amount they want to send, and then scanning the merchant’s QR Code^®.  

© 2011 SmartPay, Inc. All Rights Reserved.
QR Code^® is a registered trademark of Denso Wave, Inc. of Japan. 

Tom Heeter, Founder & CEO:
As the visionary behind the application and service, Tom brings a sharp focus to product development and the direction of the company.  Tom draws inspiration from his childhood, growing up among a community of NASA scientists. Tom has years of experience as a CPA and Real Estate manager, and lends his accounting, financial and team-building skills and experience to the SmartPay^TM application and company. He holds a BA in Economics, BBA in Accounting from University of Texas, Austin and earned his Doctor of Jurisprudence from South Texas College of Law. Tom also has a Certification in Mediation from California State-Chico.

MANAGEMENT TEAM:
John Selvadurai (Chief Technical Architect, Director of Software Development):
 John is the technology architect of the SmartPay^TM  application and service infrastructure. He has years of experience developing Client/Server applications.  He holds a BS and MS in computer science, an MBA from Indiana State University and is a doctoral candidate in technology management.

Kishan Manamperi (Software Development Senior Manager ): Kishan manages our software development team in India. Kishan has a background in computer science and a BS in Construction Management. 

Ricardo Crooks (Cloud Management & Web Portal Lead):  Founder, CTO of ASAP Direct Lending, ASAP Direct Processing and ASAP Direct Realty responsible for developing intranet and custom applications for the “Supervision and Regulation” department in order to assist in the supervision and control of the mortgage lending, processing and real estate transaction processes. Coordinated the design and development of intranet applications in Java, using the Silver Stream and WebLogic  application server.  Maintained the department intranet on a day to day basis using (HTML, JavaScript, DHTML, Photoshop, and Acrobat). Ricardo has a BS in Computer Science and extensive experience building Server-side applications for institutions.

Saundra Parola (Promotions Manager): Saundra leads our focus groups and other consumer behavior studies that help make the SmartPay^TM application intuitive, attractive and user friendly. Saundra holds a BS in Recreational Administration.

COMPANY ADVISORS:
Neil Gandler:  Neil conducts detailed market research into merchant preferences for the SmartPay® application.  He has helped with multiple startups and is a tireless researcher.  Neil holds a BS in Computer Science and an MBA from the University of Michigan.  Neil’s representative marketing consulting clients have included Ford Motor Company, and Dell Computer Corporation.

Tony Overfield:  Tony was a Senior Engineer with Dell Computer. Tony has provided technical assistance in overcoming complex hardware and software integration issues relating to the development of the Smartpay application.

--No Credit Card Hardware required:  SmartPay is ideally suited to an open air market or open table market like a farmers' market.    If you own a printer and an iPhone , Android or  Blackberry, then you have everything you need to receive payments. 

--Significant Savings on Monthly Merchant Fees if Your Average charge is over  $30.00:  SmartPay transaction fee model is significantly less than typical credit card with a transaction fee cap of $1.00 regardless of the amount sent.  This compares favorably with up 2-5% for comparable credit card transactions.   So, if a merchant receives $100.00, with SmartPay, the max fees would be $1.00 and with a credit card the max fees would be up to $5.00. Additionally CC companies typically charge a fixed monthly fee as well. 

--Significantly Better Fraud Protection:  You can change your merchant decal as often as you like, every day even.  Moreover, the decal PAPER so there is no way to electronically hack into it.  Even if someone copies the merchant decal code, the merchant software only allows merchants to receive money, so as a merchant your transactions are totally secure. 

--No More Paper Receipts:   As a micro-merchant, whenever someone sends you money, you get both a text message and a email receipt.  

Expensive Hardware:  Nearly all of the competing models for electronic funds transfer via smart phone, require additional hardware that is comparatively expensive for the merchant, the consumer, or both:  

•  GOOGLE^®:  Google’s approach integrates near field communication technology which requires merchants to purchase expensive hardware in order to accept electronic payments.  The merchant hardware costs several hundred dollars, and users must often buy new phones that are compatible with near field technology hardware and software solution being implemented by Google. 

•  BLING NATION!™:  Bling Nation’s product requires both merchant and consumer to purchase comparatively expensive hardware:  a. the consumer must purchase and attach an electronic RFID chip to their phone, and b. the merchant must purchase RFID reader along with Bling Nation’s payment processing software.  At Bling Nation’s San Francisco launch, we asked how much the consumer chip costs “turn key” delivered, and a Bling Nation rep told me about $3.00.  The cost of the merchant RFID reader is on the order of several hundred dollars.

•  SQUARE (UP)™:  Square Up’s product requires the merchant to purchase a special card reader to be able to use their product as well.  While Square is a more cost effective solution than the other competitors, it still relies on using magnetic strip cards which is a comparatively expensive solution when compared to our product.  We estimate it costs a several dollars to make the Square card reader, and it cost’s around $5.00 for each issuing bank to send out a new credit card per consumer.  Also, with Square, you have to wait to receive their hardware before you can make payments, as compared to being able to use ours product as fast as you can download and print out a decal.

• SmartPay^SM:   Purchasing nearly 1000 decals from an office supply store costs under twenty bucks.  The cost of the ink to print out a decal was under 1/100^th of a penny.  In short, the total investment required to use our product is under a dollar from BOTH the consumer side and the small merchant (individual seller) side.   Moreover, our product is designed to work great with most existing smart phones, so there no need to buy a special phone to use our product.  We intend our product work with Android, iPhone, Blackberry, and possibly one or two other operation systems.  And to get started sending money with the SmartPay application, you simple enroll online, print out your decal, and your done.