Café Pay
Café Pay (also simply spelt as Cafe Pay) is a third-party mobile and online payment portal from The Oan Isles developed by Etuariti Takatunuye as a spin off from Cafe Net in 2008. It is headquartered in Tokapa.
| Café Pay | |
| Type | Public |
| Safe Pay (Tivot Stock Exchange) | |
| Industry | Finance Information technology |
| Founded | October 28, 2012 Huna Whiringa-ā-rangi 1012 AU |
| Founder | Etuariti Takatunuye |
| Headquarters | , |
Area served | Worldwide |
Key people | Pataka Uaterakona (CEO) Etuariti Takatunuye (Chairman and Founder) |
| Products | Café Pay Virtual Cards Café Pay Virtual Cash Café Pay Online Payment Café Pay Virtual Wallet |
| Services | Mobile and online payments |
| Revenue | 28 billion KRB |
| Total assets | 102 billion KRB |
| Total equity | 51 billion KRB |
| Owner | Quicksilver Holdings Ltd. (20%) Damehowe (17%) |
Number of employees | 31,700 |
| Parent | Safe Pay Holdings Plc |
| Website | cafepay.oan cafepay.caek cafepay.unac |
Services
Café Pay operates a virtual wallet accessible by the user through their mobile phone, tablet or desktop.
Mobile app
It works as follows:
- The vendor can generate a QR code for the transaction with the user. The QR code contains information regarding the vendor, the total amount and reference of the transaction.
- The user scans the QR code using their mobile device's camera.
- The mobile app on their phone will then ask them to authorize a payment from a preloaded debit or credit card in their virtual wallet.
Online payments
Using either their mobile device or a desktop application, Café Pay can be used to make online payments. If a user is making an electronic payment on their desktop on an e-commerce website, the can scan a QR code that appears on the screen using their mobile phone. Alternatively they can log into their account and input the transaction reference on the desktop website or mobile app which will work the same way as a normal transaction.
Alternatively the user can open a link using their desktop or mobile app which opens the transaction and allows them to pay for it.
Virtual cards
Café Pay also allows user to load their physical debit or credit cards into their virtual wallets. When they buy goods from a shop, they can use the swipe machine to scan the virtual card on their mobile device and pay with that instead. The virtual card is basically a virtual a reproduction of their physical card. Some banks also offer virtual cards. Users can load their virtual cards onto their virtual Café Pay wallet.
Virtual cash
Virtual cash is interesting because it does not use a trusted intermediary like a bank. User can load cash into a wallet from a debit or credit card. They can pay another user or vendor that has the app with the virtual cash. The virtual cash can be deposited into the user's bank card or paid to their bank account and converted to real money.
Users make payments by simply scanning a QR code containing the user's wallet information. They then input the amount that they want to send to the other user. Alternatively they can pay their virtual cash to a reference number of another user's wallet. Users can have as many wallets as they want and they do not pay any fees for their wallets.
Development tools
Café Pay can be integrated into third party website and applications. Café Pay offers a Café Pay Software Development Kit in any of the major programming language. Café Pay is supported on most operating systems. Developers get a free trial that includes 100,000 free transactions to encourage them to develop apps and sites for Café Pay.
Fees and revenue
Café Pay makes money from charging merchant and user fees. When a user pays a vendor, the vendor gets charged a percentage of the transaction. When the user pays another user, they pay a portion of the transaction. Merchant and user fees stand at around 0.2% of the transaction amount. Café Net also charges vendors a fixed monthly or yearly subscription fee depending on the number of transactions they want to support. They are charged 100 KRB per 100,000 transactions.
Café Pay makes about 28 billion KRB in revenue and processes about 1.78 trillion KRB worth of transactions every year or about 140 billion transactions.
Scope and significance
Café Pay is included in Damehowe and Cafe Net products by default and is widely supported by their respective platforms and systems. This means that Café Pay is accessible to about 1 billion people, most of which are Damehowe's customers every year of which 500 million are in Aurora alone. The site officially records about 100 million users and vendors as of 2022. Café Pay is the foremost means of payment in the Oan Isles and Kohatu Isles.
Ownership and management
Café Pay is 100% owned by the Safe Pay Holding Company located in Tarov, Tivot. It is in turn 20% owned by the Quicksilver Holding Company (which is entirely owned by Etuariti Takatunuye), 17% owned by Damehowe with the rest being owned by a mix of shareholders. Half its stock (i.e., Safe Pay shares)was sold its IPO in 2009 at the Tivot Stock Exchange for 2.78 billion KRB.
Etuariti Takatunuye is the Chairman of Café Pay. He will be resigning from his role as Cafe Net CEO to focus on Cafe Pay in 2022. The current CEO is Pataka Uaterakona who will be leaving the company in 2022 to take over the Net Foundation and the Lumen blockchain. Samminel Herinshaw will succeed him as CEO of Cafe Net in the same year.