Stage of Innovation: Proof of Concept (You have created something to show the innovation can work)

Problem: Given that over 70% of transactions in Africa are cash based, One of the biggest challenges we face in Nigeria and other African countries is the inability to give and collect change whenever we do a cash transaction. Customers are usually faced with the option to reluctantly leave their change with the merchant or pickup extra goods that they would rather not buy, this ends up leaving the customer dissatisfied and at a financial loss. This problem which we face on a daily basis, lead us to build Changecollect a digital platform that enables anyone with a mobile phone seamlessly give and collect change as well as make payments at the click of a button. With our integrated wallet, users can also carry out transactions in any fiat and crypto currency of their choice. Our goal is to drive financial inclusion and to facilitate a cashless economy in Africa.

Unique Selling Point: Majority of the incumbents in the market right now does not specifically address the issue of lack of change(lower currency bills) in the economy whereas this is Changecollect's ultimate goal. They are mostly focused on deploying more POS terminals and creating virtual cards as well as online banking mobile applications. The following are our key differentiators: -Enables customers save money -Provides integrated fiat and crypto wallet -Ability to buy and sell Crypto -QR payment system -Phone number payment system -Allows transactions and exchanges in multiple currencies We are deploying a technology that will Offer users the ability to instantly turn physical cash into digital currency.