This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
1. THE BEGINNING
This innovation initially came to life when…
Time-poor, information-overloaded Australians with password fatigue needed an easier and faster way to pay their bills without inputting their information multiple times on different platforms, or losing bills to spam filters or in the post. They needed a mobile payment application that wasn’t built around a bank or payment brand, but around them as the consumer. Businesses and councils also needed a way to encourage customers and ratepayers to pay their bills faster. This is how Sniips fully integrated, app-based, 100% digital and automated billing and payment solution was born.
2. WHAT & HOW
The purpose of this innovation is to…
…help consumers pay ALL of their bills from multiple providers in a few clicks from a push notification, without re-inputting any information after the app is set-up. Help businesses get paid faster, and reduce overheads by transitioning to paperless billing.
It does this by…
…Sniip’s patented m-billing functionality lets customers scan a QR code on a paper bill, which sends all future bills from this biller directly onto their app. They will be alerted to bills for then on via push notifications. Sniip can also easily integrate with whatever payment system a business or council may use, at a very low cost.
3. PURPOSE & BENEFITS
This innovation improves on what came before because…
There are currently no completely digital payments solutions in Australia. The closest is BPay, which still involves customers receiving a bill via Post or as a PDF document attached to email, opening their netbank in a new window, logging on, then inputting all information including a 16-digit code Every. Single. Time.
Its various benefits to the customer/end-user include…
Easier and safer mobile payments; more efficient bill management; and reduction of misplaced bills, forgotten emails and late payment fees. Billers will benefit from cost savings over incumbent payment methods, quicker payments and simple conversion to paperless bills.
4. COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
It wasn’t. Until Sniip, there was no mechanism through which consumers could control all their monthly billings and payments through a single app. Online and mobile payments have always been controlled by a bank or payments brand. Sniip is the first service to streamline mobile bill paying by integrating directly with a company’s existing payment gateway.
5. TARGET MARKET
It is made for…
- Vendors that have existing relationships with those businesses that are shifting to online bill pay. Sniip’s leading competitor is BPAY, thought we’ve already mentioned what we think about that.
- Any Australian with a smartphone, and any company with digital payment facilities.
- Nearly 90% of the country’s population owns a smartphone, and these devices have become an extension of ourselves, with 85% of smartphone owners never leaving home without their phone. Sniip consolidates bill payments and puts it in the palm of the consumer’s hand in a single app.
- The average print and postage cost for a vendor issuing 650,000 bills per quarter is over $3.5 million. Sniip comes in at half of this expense and also provides a lower transactional fee than the vast majority of credit processors.
It is available for sale through…
The App Store for Ios customers, and through Google Play for android users.
Our marketing strategy is to…
Establish partnerships with businesses and industries that rely on invoicing to collect payment, including into the utilities sector via partnerships with water, utilities, and natural gas; explore relationships with multiple retail outlets, including grocers, apparel, auto parts, health care; and launch a peer-to-peer transfer network. Gain exposure in the media and apply for awards!
FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
Maven Judge Vote: Sniips – Smart 100 2018
(Please note – The form below is for judging purposes only and is restricted to the public)