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The Creation of Pay It Now
Takeoff Media Limited was formed in the aftermath of Covid 19 when one of the two co-founders found themselves in a critical need to change industries due to the ongoing struggle hitting the global aviation sector.
Takeoff Media was incorporated by two close friends who had a passion for entrepreneurial ideas and the blockchain technology sector. Before long, the founders had identified a niche in the digital currencies sector as well as found several problems that needed fixing related to the speed and cost of digital currency transactions.
Their solution was to form Pay It Now NZ (PIN NZ); a payment, reward and data storage system that utilises blockchain technology to achieve instantaneous transactions with low fees, and secure data storage that provides a much safer alternative to traditional cloud storage.
Company Overview
Takeoff Media Limited trading is the ultimate holding company and 100 percent shareholder of its subsidiary Pay It Now NZ.
Our product Pay It Now (PIN) is a payment, reward and data storage system that utilises blockchain technology to achieve instantaneous transactions with low fees and secure data storage that provides an alternative to traditional cloud storage.
Our Mission
“To incorporate digital currency services into the daily activities of businesses and customers by providing innovative, simple, secure, and rewarding services that increase the mass adoption of digital currencies through PIN’s unique payment, reward, and data solutions.”
Our Vision
”To increase accessibility and usability of blockchain for all age demographics on a global scale by being the go-to solution for payments, rewards, and data.”
Why Choose PIN and Why Invest In Us?
We believe PIN is novel because:
It's simple and secure
PIN improves customer retention and engagement
PIN increases business revenue
PIN reduces business costs
The time is right for a complete digital payment solution using blockchain technology
We believe PIN is exciting and innovative & appeals to Millennials and Gen-Z
Our Key Products and Services
PIN Token is the native digital currency to the PIN ecosystem. We created PIN on the Binance Smart Chain, which is an Ethereum compatible blockchain but developed with its own architecture and token management. PIN Token is a BEP20 token, currently tradable on QuickSwap - with exchange listings soon to come.
PIN Network App is a hub on which all PIN products can be accessed. Customers and merchants can find features such as PIN Payment, PIN Rewards, and PIN Wallet, enabling users to experience the fluid, unified PIN ecosystem.
PIN Hosted Payment Gateway is a Layer 2 blockchain solution that innovates digital transactions. Transactions on the payment gateway eliminate gas fees and simultaneously provide a seamless, secure connection by using blockchain technology. In our view, PIN’s blockchain propelled payment gateway is an innovative and sensible use case.
PIN-FT will be a non-fungible token (NFT) platform that allows users to trade NFTs. In addition, PIN-FT will be a gas-free minting solution (free minting fees) to mint NFTs on the PIN-Network. PIN-FT will be an ambitious charity-based project not yet attempted in blockchain technology.
PIN Marketplace is currently being developed. It will be a unique online platform where merchants and consumers can transact using only digital currencies as means of payment. In addition, all PIN Merchants can sell their products and services on the PIN Marketplace to the global base of PIN users.
Target Market
PIN’s target market is any business (Bricks & Mortar, online, or invoice generating business) that sells products and services.
PIN Payments, PIN Rewards and PIN Data will each be applied to different businesses that adopt PIN, depending on their business operations. Any merchant selling a product or service can allow their customers to accumulate PIN through the reward system, which can be:
- exchanged for local currencies,
- changed between different digital currencies, or
- traded for goods or services in stores that have adopted the PIN network.
PIN Data will be aimed at companies with highly sensitive data, such as lawyers, accountants, doctor’s surgeries, and hospitals; practically any business that stores client information.
Market Size
Payment services are a $1.6 trillion worldwide market*. Less than 1 percent of payments are done using digital currencies*. This is due to ‘costly and sophisticated’ options on the market that don’t reduce transaction fees.
According to Statistics NZ, in 2021 there were over 562,520 active businesses registered in New Zealand. PIN is aiming to capture a minimum of 1% of those businesses.
PIN expects huge demand from individuals who desire simple, safe transactions and benefits for loyal customers. In addition, retail businesses, professional and trade services, and website owners employ PIN products to reward customers and secure data. With most stores allowing digital payments, PIN Payment and PIN Rewards may be readily implemented.
27% of in-store sales* used a digital wallet. 41% and 46% of eCommerce and mobile commerce sales were made with a digital wallet. By 2025, digital wallets might account for $10 trillion in worldwide transactions.*
PIN incentives may be utilised at any store that accepts PIN Payment; thus, the system will expand in popularity as more companies implement it. Cloud data storage is valued at $76.6 billion*. PIN Data has the potential to disrupt this sector by leveraging revolutionary cloud technologies, such as secure blockchain.
Competitor Analysis
PIN Payment is a blockchain-based payment gateway that uses numerous digital currencies and could be compared to PayPal, Stripe, or Worldpay of cryptocurrency.
PIN Payment will attract shops by only charging 0.5% per transaction, which is significantly lower than PayPal at 3.5% + 30c per transaction, Stripe at 2.9% + 30c per transaction, and Worldpay at $38 for regular services and $92 for advanced services per month, for transactions. These alternative payment channels are expensive for merchants. Businesses will enjoy PIN Payments at much lower transaction fees when compared to the payment mentioned above channels.
Current forum, website and instore reward systems do not allow owners to compensate loyal members for providing content and engaging in their community. For example, Fly Buys and Air Points, well-known in New Zealand, provide a choice of items and services in exchange for being loyal customers at hundreds of retail stores countrywide but do not allow those rewards to be cashed out. Other reward systems do not help consumers since they involve too much spending or don’t provide enough items to spend reward points on.
Presently, no incentive system delivers users digital currencies along with the other benefits of lower merchant fees, no gas fees, reflections, and rewards utility, leaving a market gap for PIN Rewards. PIN tokens may be exchanged for cash, digital currencies, or products or services in establishments that have accepted the PIN network, making the PIN rewards system more than a loyalty programme. By letting consumers select between products, services, and fiat, businesses implementing the PIN ecosystem could gain devoted customers. The table below gives a breakdown comparison.
Valuation
Valuation Method
Our company valuation came as a result of a deep quantitative and qualitative analysis. We aimed to take a conservative approach, preferring to undervalue rather than overvalue the company.
Qualitative Analysis
Information was researched and formed after consulting with several New Zealand Government entities to come to a clear valuation for the company.
Comparative research was also undertaken to understand the valuation entry points of competing companies.
Quantitative Analysis
To perform a quantitive valuation of our company, we used a Discounted Cash Flow model (DCF).
- We forecasted our financials 5 years into the future (2023-2027), ensuring to be on the conservative end with our assumptions.
- Forecasted Unlevered Free Cash Flow for years 2023-2027.
- The discount rate used was the Weighted Average Cost of Capital (WACC)-WACC used was 17%
- The net present value of 5yr Unlevered Free Cash Flow discounted to our WACC was then multiplied by a conservative-end terminal EBITDA multiple (3.0x) for both total Enterprise Value and total Equity Value.
The average was taken of all final values to give us our final valuation of approx. NZD $28m.
Information Memorandum
For further investor information, please refer to our information memorandum (15MB download).
Disclaimer
All terms and conditions are subject to change at any time without notice.