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Profile of the business: 5
SWOT Analysis……………………………………………………………………………………………………..8
Chapter 2#Section 2.1#Section 2.2#Subsection 2.2.a#Subsection 2.2.b#Subsection 2.2.c#Section 2.3#Chapter 3#Section 3.1#Section 3.2#Section 3.3#Subsection 3.3.a#Subsection 3.3.b#Subsection 3.3.c#
We gladly present you our report on the marketing plan for our new service. This report has been prepared on the basis of explaining the primary data and objectives required to make this service a reliable service in the market.
Although the main purpose of the report is to describe the whole process of developing and promoting our service in the marketing areas. We would like to express our gratitude to you for your effort at giving us an opportunity in completing this project.

The name of our service is “Selfie Pay”.  As compared to the conventional username and password login combination, pay with selfie approach offers a far more convenient method to sign-in and also enables a faster checkout process. It only requires your biometric scans and logs in. This works by providing users the option of verifying their purchases either with fingerprint or photo of their face. So, this option is more secure than the passwords logins because now all you have to do is use your face rather than remembering your passwords.  For every online purchase, the user’s face is scanned which proves that the authorized individual is making the purchase and not some hacker. The same cannot be guaranteed for passwords as they can be easily stolen, shared or hacked. We set a reasonable price for this service so that it can be approached by every individual, its app will be available on app store which can be bought. Then you can contact the customer service for the registration process which scans your face and puts us in the algorithms of their data this way we become secured. As this is a first hit in the Pakistani markets, we would gain a competitive advantage.

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Our target market includes almost every online shopper and every individual who uses their mobile phones to shop online. This market is huge because almost every person has a mobile phone and if they’re not using it for anything else then they are shopping online with it. Today online shopping is the fastest growing payments channel and nearly 100 million individuals are using mobile devices which have finger print readers or face recognition abilities. So, we have segmented this data from the Demographic, Geographic, Psychographic and Behavioral point of view.

Since this is a not so costly service it will be sold very often and will bring ease to peoples minds.

Before the idea of this method of mobile payments we have always had the conventional way of mobile payments and it is no secret that conventional username and password login systems are depreciating. Hackers can easily crack password using techniques such as brute force or ghost nets which is a Chinese hacking software. People not only have to deal with the constant threat of digital identity theft but are also concerned about sensitive information being stolen from hacked company websites. Moreover, the fact that users continue to re-use passwords across multiple sites creates further vulnerability and is a leading cause of getting hacked or not remembering your emails because emails are different for every account. One password leak at a site leaves many more sensitive accounts that share the same credentials open to attack. Biometric measures bypass passwords and therefore this kind of security mechanism is on the rise. Therefore, the adoption of mobile payment is on the rise and so are the biometric technologies for bettering security and creating customer convenience. But just in case fingerprint recognition technology wasn’t enough, we are now taking mobile payments one step further with its facial recognition software to approve online purchases.
So, forget the typically existing identity verification methods take shoppers away from a retailer’s website or mobile app where they are often required to remember and enter a password. The process can be time consuming and can result in a shopper abandoning their purchase or having the transaction declined if they enter their password incorrectly.
And adopt our newest service which eliminates the need for cardholders to recall passwords, dramatically speeding up the digital checkout experience while also improving security. To increase the security furthermore the app requires the customer to blink to prove that an actual photograph of the user is being taken and not some fraudster holding an old photo in front of the camera, this blink is much harder to forge which makes it extremely secure and authentic. For us its all about authenticity and security of the consumers personal accounts.

This authentication mechanism insures security to all users.

This mechanism undoubtedly proves to the service provider company that the authorized individual is making the purchase not some hacker.

To bring convenience in the blink of an eye.

MISSION: Our goal is to create the ultimate payment experience for our users, making more secure payment connections in some of the most complex operational environments. We provide a new experience for retailers, banks, buyers and sellers that aid in fraud prevention and reduction of account compromises amongst daily transactions. 
VISION: To provide the future generations with confidence in securing their accounts with biometric scanning. Our aim is to see every single person happy after registering on our app because they are insured that their account is secure.

Integrity: We are honest, open, ethical and fair. People trust us to secure their passwords.

Customer Service: We provide 24/7 customer helplines so each person is helped.

Fast is better than slow.

Keep it simple.

Constant improvement.


Consumers ease.

Delivering our very best in all we do, holding ourselves accountable for results.

From the immense change shift of shopping in stores to online the concept of Selfie Pay has its benefits, most people are convinced with the convenience of the mobile payments. Around 67% of the world population allow mobile payments as it is faster and convenient. The new pay with your face systems certainly look impressive. The idea of paying for products and services so simply, without having to queue, sounds appealing. And, we are convinced it will be introduced to the market eventually. The Target Market is millennials as they are intrigued by new cool ways and innovation in Technology, The update allows cardholders to verify their identity by using biometrics such as fingerprints or facial recognition the latter, requires users to take a ‘selfie’. The aim of the move is to move consumers away from the less secure nature of passwords.

It establishes a consistent way to look at an industry to determine its profit potential. These forces, five of them, in any given industry that drive profit and, therefore, influence its competitive landscape. These are given below;
Is determined by the number of suppliers, and the uniqueness of their products, the degree to which they have control over a proprietary technology or capability which might make switching away from that supplier difficult or expensive. The fewer the number of suppliers the more they are needed to produce a product, the more powerful each supplier is.

Selfie Pay will be introduced on a number of Credit Card Agencies such as Mastercard, Visa, Discover. As we came to know that Mastercard entered the payments market as a supplier but did it in an entirely new way. It organized banks into a national network that would enable merchants coast to coast to accept a general-purpose payment product. This model separated the extension of credit from the operation of the payment rails and the setting of the payments standards and processing of the payments transaction. Selfie Pay has collaborated with Mastercard for a faster and reliable way to make payments making it a major supplier of E-Industry.

Is driven by the number of buyers, importance of any one individual buyer to the industry, and the ease with which they could switch to a competing supplier. Fewer buyers means more control over suppliers and the makings of a powerful force that can, ultimately, drive prices and profits down.

These sales pitches to banks and merchants came at a very good time. Merchants have been Using Selfie Pay on credit cards to consumers and are happy to relinquish the provision of credit to someone else who would bear the risk. They also don’t mind paying a fee to the bank for that service in exchange for being able to accept a card and to allow selfie pay service that makes it easy for consumers to buy things (and even buy more things) in their stores.  Consumers are perhaps the biggest beneficiaries of all. They could get a single card that could be used in place of the stacks of store cards that are inconvenient to carry, and now with selfie pay that time wastage has been reduced, thus the buying power of these products have been influenced.
Is the ease in which buyers or suppliers can find a different way of doing or getting what they currently do or get from a buyer or a supplier. It’s easy, and earns more profits and higher prices for consumers. Banks compete for consumers to use their products. As card acceptance becomes more commonplace across all of the supplier-branded products, merchants don’t really have the ability to “steer” payments choice to a particular product. Banks do. They try really hard to introduce features and enhancements that made their cards more appealing to consumers than others. Service such as Selfie Pay touts having a more affluent customer base that could drive more spending at merchants and charges merchants more to accept their cards.

Is about how easy it is for a new player to enter the market and provide services. If it isn’t difficult it’s cheap, regulatory hurdles are low, proprietary technologies aren’t required to deliver a service, and economies of scale don’t matter. Then it’s relatively easy for new players to enter and compete away potential profits. Selfie Pay, decides that the time is right to enter as a supplier – a new set of payments rails. And, like their predecessors, it too leverages the forces on the buyer side of Porter’s framework. Selfie Pay see’s the opportunity to create supplier power by turning a large merchant-customer base – into an incentive for merchants to want to accept a new payments alternative. Selfie Pay not only introduced new rails, it also introduced a new product feature to make it attractive to consumers, the idea of cash back on purchases made on the card. It also decided to charge a lower fee to merchants so more merchants would want to accept its card product. Selfie Pay will enter the competitor landscape as a new supplier, which will destabilize the buyer and supplier side and introduced a brand new service substitute all at the same time.

Is about the number and capabilities of competitors. If there are tons, and they all offer more or less the same services and capabilities, power then shifts to the buyers and suppliers who can pick and choose from a variety of alternatives.

Most of the competitive rivalry was on the buyer side, with issuers competing for consumers to take and use their cards, Supplier revenues and profits increased as scale economies drove efficiencies, and the use of cards, regardless of which bank issued it, only drove more volume over their networks. Selfie pay gives leverage even further by giving a faster and more convenient payment method.

Security enhanced by using Facial Recognition
Versatility and Reliability
Faster Access
New Innovation lacks in building trust with consumers.

36% consumers shop in stores rather than online.

Consumers feel comfortable with passwords and pins.

New Innovation attracts consumers.

Easier use and less time consumption.

Attractive User Interface
Competition with Finger-Print Recognition
Consumers preferring filling information rather than facial access
Security Database faults.

Pricing strategy used by Selfie Pay will be sufficient enough to benefit it as it grows, since Facial Recognition is a new and trendy innovation being used in mobile smartphones across the globe, replacing the old verification passwords, penetrating such a market is easier and will earn a large budget for this service. The global value of payments made by mobile devices or wearable technology is expected to reach $50 million annually in 2018, up from $25 million last year.

To penetrate the global market a starting price of Rs 200 will be set to attract customers faster and make up for a greater market share, growth will increase at double the rate and thus after a year of growth and gaining enough consumer lifetime value the price can be increased to approximately Rs 400-550.
To Skim the market for Selfie Pay it can set pricing in different sets or levels such as “Premium Package”, “Limited Availability” or “Exclusive offer”.

There are two core advantages of using price skimming as an initial price strategy.
The first is it allows you to maximize your profits, this will allow Selfie to be superior than its competition although it has a higher price and can scare off E-Commerce vendors but due to this strategy it can have traction and can be set in consumers minds as a quality service.

Another benefit of price skimming is the ability to segment the market, where you control the price for one segment of customers. This way when new competitors arise and they can target a different segment of customers who are happy to pay a different price.

Being a service, Selfie Pay holds the Pricing policy in both economical as well as premium way. The Selfie Pay comes with lots of perks and benefits. MasterCard, Visa or any other debit or credit holder can with ease use the selfie pay and get good discounts. Providing services to business, governments and organizations Selfie Pay is building up a sound and researched pricing policy for its product and services. As they have a variety of services for the Individuals and the Groups, they definitely work and decide on the basis of the Market conditions.

Selfie Pay virtually locates itself around the globe. The online presence of this service as well as being available in online app stores makes it easily available to the people across the globe. With the online coverage, Selfie Pay tends to provide services anywhere in the world. Virtual spacing and the need of an hour has made Selfie Pay a convenient and viable option of payment. With the technological enhancement, Selfie Pay frequently is coming up with the new products and services for the better experience of the consumers.

Advertising and marketing form the core of any business group and considering this part Selfie Pay is quite stringent with the advertising policies it has come up with the innovative campaigns to increase the electronic payments. The different discounts and offers for the exclusive Selfie Pay users make the Advertising stronger. The easy use of Selfie Pay is an unintentional promotional gimmick for increased use of Credit Cards etc for online shopping. The team of marketing experts at Selfie Pay is dedicated to creating the best possible promotional tactics for the customers.

By letting consumers buy directly the products they desire without going through third party apps will make Selfie pay an easy and convenient app to use. Time consumption is reduced drastically to let people get in and out of quick transactions, this allows Selfie to be a much more reliable service rather than filling out information from your Cards.

Our Social Media services provide promotions in banks across Pakistan allowing you to identify and use this service better. Displaying Selfie Pay in Ads and TV Commercials across the internet will make this service widely available and will catch a large share of the market.

Our target demographics are millennials who are cool, love technology and innovation are welcome to join the club. We thrive to make daily transactions an unforgettable less than 5 second experience. Newer innovations such as this attracts the young generation more as they are more involved in their devices.

Psychographic segmentation helps construct products or position them in a way that makes them more appealing to the competitors. Selfie Pay creates an image of convenience in the consumers mind and becomes reliable. This strategy allows the service to attract a large amount of individuals as nowadays people are busy 24/7 and when they want to go online to buy anything they want that payment process to be quick and secure, that’s why selfie pay becomes a convenient way to help with their transactions.

The Brand Value of the Selfie Pay Service creates an authenticity of user experience, it allows to create a safe and easy consumer experience by allowing consumers to authenticate their payments with who they are (biometrics) not what they may or may not remember the passwords. This is a significant milestone in the evolution of payments. Shopping in person has been revolutionized thanks to advances like contactless cards, mobile payments and wearables, and now we are making Identity Check Mobile a reality for online shopping in Pakistan, and soon, the world.

As the world innovates more and more in technology there exists a definitive and monopoly for Selfie pay to be the bigger competitor in this field and allows it to grow more until a bigger competitor arrives. Selfie Pay service will be a market leader and grow significantly now.

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