To provide the worlds 1st dedicated international bill pay app
Applicant name: Xaggo
Innovation Name: Xaggo
Innovation Type: Service
Mission: To provide the worlds 1st dedicated international bill pay app
Innovation Description: Xaggo is an app. easy to use to be able to pay bills internationally. This service will let you instantly pay water, power, telcom, gas, groceries, rent, school, beauty products, and any other service that you might want to pay for family and friends in foreign countries.
I am developing software connections with every service provider to be able to have a direct and steady connection for payment and service stability. and we have an internal way of consolidating with foreign currencies.
Innovation Inspiration: I started a prepaid debit card company for our parent company SUR, LLC; a cable network in the USA that transmits Hispanic niche networks to all major cable network providers. As i was managing the project i noticed people were asking for duplicate cards and they were being used in LATAM. i realized what people wanted was a way to send their family money, but also a way to pay for bills without the use of cash. So we began developing Xaggo to satisfy that need. Traditionally, someone would send money via a remittance company and the recipient would have to go through the trouble of going to where they can receive the cash, and then go to a local merchant to pay bills. This would take time, effort and put the recipient in danger of being robbed, or losing the money. Via Xaggo, this process is shortened so that its the sender who has control and access to paying bills and the beneficiary can just relax and have continued services.
Who benefits from the innovation most? Senders will benefit the most from this service, but foreign technology companies will also benefit highly. the more services there are on a platform from that country, the less cash gets emitted. This will create an environment that will stabilize payments and call for more competition, eventually driving costs down for the beneficiaries and benefiting the sender even more.
What are you most proud of about your innovation? Technological challenges were the greatest in this project. Every service provider has their own software and account system and this all needed to be weaved into something that can work at an American standard. which to us means 24/7 access. I was able to put together a tech team to be able to make the connections create a seamless platform.
secondly, we are able to operate without needing to become and MTO. because of this we will be able to have access nationwide immediately! this has also been a long challenge to overcome, but with the help of the best in the business we have created a working contract.
Status of Innovation: Pilot
Innovation Active Since: 09/01/2020
Applicant Type: Private Company
Headquarter City: Miami
Headquarter Country: USA
Year Founded: 2009
Main Category Choice: End-user Experience
Why do you think you should win this category?:
We are disrupting the way remittances are conceived. “directed remittances” is a subject that most are just scratching the surface, our plan is to make it so that the user will feel like they are home, paying for their bills, the same way they do in the USA. A quick, cheap and simple solution to a tedious process that has not been revamped in decades. long gone are the days where beneficiaries have to pick up cash and risk time, and safety to pay something that can be solved instantly.
we plan on disrupting about 10% of the remittance market, and know that there is always more to do. we have studied central banking statistics for what remittances are used for, and 72% of money sent is used on bills. Xaggo will solve logistics issues instantly so that money sent can be used for caring for special needs and not for day to day needs that waste time and effort. We are a team thats speciallized in targeting the US Hispanic market, we have over 25 years experience and the networks at our hands to be able to execute this project properly.
Secondary Category Choice: Innovation in Time of Crisis
Why do you think you should win this category?
We also find that we are helping in a time of crisis. the less our senders and beneficiaries have to go out to help each other, and can stay home and be safe from pandemics, attacks, protests, ect. the better. making sure that senders can stay home and not have to take out cash, or risk going to brick and mortar will assure that they are not putting themselves at risk. This also applies to the beneficiary who will have everything paid for, so that no unnecessary trips are made that could put them in danger.
our system will continue to add more services to promote stay home pandemic
Full Name: Andres Delgado
Full Name: Arturo Delgado
Full Name: Rodolfo Luisis
Full Name: Ricardo Samanez