Country: Singapore
Year founded: 2012

  • Fastacash partners with financial intuitions to build social payment capabilities within their existing mobile applications or through social networks
  • These partnerships include:
    1. DBS PayLah! mobile application payments integration,
    2. VisaEurope social transfer capabilities to VisaEurope’s partner banks and
    3. Axis Bank’s social payment app, Ping Pay

Value Proposition 

  • Fastacash uses a unique technology platform – Fastalink – to enable the secure transfer of any type of payment, across any social and messaging channel, globally
  • It serves as a single point of integration for payments services and social channels via its APIs (Application Program Interfaces) and SDKs (Software Development Kits), which allows its partners to easily plug into its platform for quicker time-to-market

Core Products  

  • The 3 main products include P2P money transfer, P2P airtime transfer and P2M payments
  • Products overview:
P2P money/airtime transfer
  • Payments solution that enables send or request of value (money/airtime), group payments and split payments using different accounts/cards.
  • When a payment is initiated, a “fastalink” is generated and a payment is sent to the receiver via the social channel selected by the sender. All the receiver has to do is click the fastalink to complete the transfer.
P2M Payments
  • Similar to P2P transfers, it is a payments solution that enables all payment types with a social element.
  • Consumers can order goods and pay for it using a “fastalink”, in the form of a QR code, barcode & etc.
diagram-p2m-offlinemerchants

Key Figures 

  • No. of end-users: Over 1 million (July 2015)
  • Funding rounds: 4 rounds with a total of #23.5 million raised ($15 million Series B raised in the last round in Jul 2015)

 

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