Hey Everyone,
I would like to introduce you all to SALPay. SALPay is looking to accommodate both businesses and individuals to help facilitate and send money in South East Asia without the usual costs and hassles.
So you might be asking yourself why you should invest in SALPay? What is the problem that SALPay is targeting and is this a Platform that has a use case that can build onto its infrastructure going forward?
Well let’s address the problem that it solves. People need to be paid. And SALPay makes it well simply easy and fast and not to mention secured over Blockchain. Individuals around the world not only the Philippines need faster and more efficient ways of sending back home to their families while there are working abroad, which is a ongoing trend for many years now. As the young crowds and millennials venture off for greater business and job opportunities, sending money back home can become a very tedious process and you can lose a significant amount of money when sending money back home. With heavy taxing and other costs along the way to transfer fees, more and more we find people struggling to find that right way to send earning back home or to even spend on a day to day basis.
SALPay is great for workers that live aboard are live a distance from their work, but let’s think about it practically, SALPay is a platform that will benefit the regular everyday worker and employee. Saving costs to transfer anywhere in the world is always a plus point. BY Removing Bank fees, we eliminate the need for the traditional person owning a bank account, to not having to have one, and in turn we turn the person who has no bank account into having a SALPay account, this is a win win situation for both side. This is what SALPay means when they say they are Unbanking the Banked and banking the Unbanked. It’s ingenious if you ask me.
Businesses Large and Small spend millions of dollars on cross boarder payment fees for their employees who work out of their own region. The system the market that SALPay is looking to accommodate is a space that continually grows every year due increasing demand for people to work from different locations. And with the invention of the internet that made outsourcing jobs much more available. But with this came the hassles of sending a receiving money and the high costs.
With SALPay Business and individuals can check their funds, make transactions, and get financial help anytime from anywhere! SALPay will be paired with MasterCard with an e-wallet/mobile app that lets you make the most of your money and time.By being able to be paid and transact your personal expenses all on one platform will change the way that the average everyday user receives and spends his or her salary.
More that 11,000 ATM machines in the Phillipines will be ackownledging SALPay making it easy for individuals to shop and withdraw funds, in addition you will save up to 80% in transaction fees.
SALPay really makes it easy for users to be paid, spend, shop, save and maintain their saving and expenditures all over one platform.
SALPay Financial Flow Explained
SALPay’s financial flow is streamlining the process by removing the inefficiency of the extra bank transfer and using the Blockchain and the SALPay token to reduce the cost and the time for funds to reach SALPay. Below you can see a great illustration as to just how the SALPay Flow System works.
SALPay will be primarily based in the Philippines. I know some of the underlying factors that drove SALPay to find the Philippines as such a prime target for this platform. As Many Philippines look for work outside of the Philippines on cruise ships and tourism based industries. The system of SALPay will greatly benefit those individuals looking for a flexible payment method. I have witnessed this first hand being in the tourism industry.
The Phillipines is just one region that can utilize this payment system to their advantage but there are many regions around the world where people lack having a bank account of some form to store their saving and/or just their funds for everyday use. I am really looking forward to see this system get implemented is many other developing and developed countries as it is a eco-system that can benefit everyone in all kinds of job orientations.
So How does the Salarium SALPay system work?
Below you will see a brief illustration of how the system works.
The majority of SALPay’s revenue comes from the financial services it provides to the SALPay Wallet holders, Fees from ATMS and Transfers of funds from one SALPay wallet to another Bank Account in the Philippines.
Lending Platform?
SALPay will also introduced a Lending platform of which it has partnered with accredited lenders that will be offering non collateral loans to its employees that are paid through SALPay. This is a huge advantage for SALPay. As it allows its employees to benefit from being paid in SALPay. With more usage on the platform this will increase the value of each SALPay as well. Credit Scoring for loans will be automatically done through the SALPay system itself, making your Financial world a lot faster in any emergency situations.
The Salarium System as a whole will be used ofcourse by both Employer and Employee, where all the data tracking will take place, Hours, Breaks, Wage, Working schedules and everything that comes with the duties of an employer and a employee to track. Everything will be calculated and stored on the blockchain . The Businesses usuing the platform can use the platform to send payments to freelancers (people who you outsource to do jobs for your company) and directly to your current staff as well. Everything will be private and secure. Your employees Payrolls and everything can be tracked from the platform directly. And for the Employee side they can also track all their payments and incoming Salary and wages that are pending. This is just a wonderful system for businesses to increase productivity from their staff, and as a employee helping you manage your funds to help better build a more stable work and financial stability.
I hope that after reading my introduction to SALPay it will help you in making your decision on your investment. I wish the team all the best and good luck to all!
Happy New Years!!! And Happy Investing!
Regards,
Kevin
You Can find a list of all the customers and Partners that SALPay has on their website and Whitepaper just click on the links below to keep up to date.
Slack Channel : https://slack.SALPay.com
SALPay Whitepaper : https://ico.SALPay.com/wp-content/uploads/2017/12/SALPay-Tokens-Whitepaper-Ver-5.6.pdf