Stage of Innovation: MVP (You have a product ready to go to the market)

Problem: TouchNut builds contactless solution for client needs. For example, we built a decentralized contactless payment solution to promote financial inclusion. In addition, we built a contactless user identification system that can be applied in a library. Fundamentally, our technology helps eliminate physical contact and avoid the spread of contagious diseases

Unique Selling Point: Touch and Pay technologies (TAP) in Lagos state utilizes the same contactless technology to take payment in Lagos BRT buses. Some of the ways our solution stands out include: SCALE: TAP uses POS machines imported for abroad. Each of these readers will be around the cost of a normal POS, making it incredibly expensive to scale. At TouchNut, we invented our own reader (locally developed, pending patent) and our machine is so cheap that we can afford to give it out for free. This gives us an incredible advantage of scale. FLEXIBILITY: Contrary to TAP, TouchNut is a service provider. We build according to the use-case of our client. You may wonder why, but we are fond of thinking long-term. Building a global payment company out of contactless technology is neither scalable, nor sustainable. This is because almost all Mastercard ATM cards have contactless chip in them waiting to be adopted in Nigeria. By building for the business and not the customer, we establish a moat around our business model. EASE OF USE: TAP's POS machines carry the same stress and complexity of normal POS machines (receipt, network, technical operation and so on). Our reader, being custom made, defeats all these to provide a very simple interface to the business. It is even as small as a Nokia 3310 phone.