Recap AMA bePay Finance x Vietnam Coin Market Community

12 min readNov 14, 2021

Mr Hubert: Hello everyone,

Only 15 minutes left and the AMA event of bePay Finance will be started

The representative for Vietnam Coin Market (VCM) is Admin Owner @taitan296 who will run AMA and bePay Finance project’s representative is @BachPham, @ngoctn20, @vbhvsth.

@BachPham, @ngoctn20, @vbhvsth

Translator: @nguyetvcm

Vietnam Coin Market Group (VCM) will be locked to make the event convenient.

After Say hello of the Vietnam Coin Market group will be opened a chat so that the community can ask the project.

How’s everything going?

Again, it’s been my greatest pleasure to announce today’s special AMA session

“bePay Finance”

Today’s AMA session is composed of 4 parts:

✔️ Part 1 — Welcome

✔️ Part 2 — Q&A

✔️ Part 3 — Questions on Twitter — Guest will choose the 5 best questions from this Tweet: https://twitter.com/chocoin_VN/status/1459115422192594944?s=20

🏆 Total Prize: $50 USDT

✔️ Part 4 — Free — asking: the guests will choose about 5 good questions to answer:

🏆 Total Prize: $50 USDT

Craving for the question rain ahead after I unmute the group.

Anyway, let’s get the curtain roll-up and welcome @BachPham, @ngoctn20, @vbhvsth.

Mr VaiBhav: Hello everyone, 🙋🏻‍♂️

I am Vaibhav Seth from @Bitbns team.

We have the world’s first decentralised launchpad platform called Ascent.

Ascent allows projects to do fundraising while it gives an opportunity to stake, invest and earn to the consumers.

We are proud to list bePAY on our platform launchonascent.com.

Mr Bach: Hello everyone, I’m delighted to be here. Im Bach Pham, CEO and Co-Founder of bePay. I have more than 15 years working in financial services industry. With many roles in financial advisor, investment, financial restructuring, etc.

Mr Ngoc: Hello guys from the land down under 🇦🇺!

Ms Nguyet: Hey Sir, Welcome to VCM Community ❤️

Mr Hubert: Hello! It’s a pleasure to all of you who participated in the AMA today.

Could you briefly introduce about yourselves as well as your project?

Mr Bach: We are bePay — The world’s first Buy Now Pay Later solution for crypto E-Commerce.

Founder are:

1) Bach Pham has been working in the financial services industry since 2006. With many roles in financial advisor, investment, financial restructuring, etc He helped thousands of SME businesses increase their financial conditions.

2) Will Truong lives in Sydney, Australia. He has been working in the IT industry since 2003. Will Truong published his first mobile app for Apple AppStore in 2009 and for the last decade, he was solely focusing on making the best mobile apps for smartphone users. Before bePOS/bePay, he was the one-man business behind PDF Max (www.pdfmax.app) — one of the most popular mobile PDF apps for iOS/Android with 4 million users.

For quick catchup, let us summary 3 things about our projects:

1) Market size and why our Customer love our solution.

That means the consumer has more choice to pay the merchant, they could use the product and services with a low budget, no interest rate.

The potential customer: The market we aim to serve is Gen Y, Gen Z who prefer a more easier and flexible payment, no interest rate.

The merchant love the BNPL services because it will increase their revenue at least 25% per year, increase customer retention, increase the Average Order Value.

He also has experience working with cryptography & PKI solutions in 4 years from 2008–2012 while working as a Technical Project Manager for WISeKey (NASDAQ:WKEY) — a leading cybersecurity and IoT company.

2) We have a team of experts: have 15 years experience working in the multinational country in retail, fintech, mobile development.

3) We also have the existing network of 10,000 active stores and 300,000 users. That help us quite good advantages to do the bussiness and go to market strategy.

Mr Hubert: How wonderful, sir. The VCM audience is also eager to study the bePay Finance project.

Looking forward to have our audiences to know more about the project and the views.

Let’s get to the first question we’d like to know from you.

What makes the bePay Finance project stand out more than the projects in the same direction at the moment?

Mr Bach: There are some projects that are our competitors in this potential market and will be more in the future when the Big companies join the market

But we have the advantages like this:

1) Existing network of merchant and consumer :

We also have the existing network of 10,000 active stores and 300,000 users in Australia, Vietnam, Philippines, etc

That help us quite good advantages to growth to a sustainable uptrend .

When our team has experience running the business with this scale, we earned quite good insight about the retail industry.

What the merchant needs, what the merchant insight, what the trend of retails and consumer behavior.

That helps us understand the demand of the market, then we could build the product that fits with that.

That insights also help us do the go to market strategy more efficient with shorter time, cheaper cost.

2) We have a team of developers & finance experts who have 20+ years of experience in the retail industry.

We also have an advisor team who are experts in Fintech, Financial… will help us avoid the mistake, expand the network.

Recognitions of us proven the quality of team:

- Top 1 Grab Ignites Ventures 2020.

- First prize in Shinhan’s Future Lab — Vietnam 2019.

- Top 3 Fintech Lab — Vietnam 2019.

- Top 10 Vietnam Startup Wheel 2019.

- One of 13 Hottest Fintechs in Vietnam in 2019 (by Fintech News Singapore).

- Top 3 VISA Everywhere Initiative — Vietnam 2018.

- Finalist in K-Startup Grand Challenge — Korea 2018.

- Selected by Y Combinator for Startup School 2018.

- Multicultural Business Awards — New South Wales — Australia 2018.

Mr Hubert: Thank you, we could give some mins for our audiences to read more about the comment.

We will come to the next question:

Who are some business partners/clients for bePay Finance?

Mr Bach: We have partnered with:

- bePay Foundation, that runs the network of user

- Beenext Ventures, (https://www.beenext.com/ ) that manages assets nearly $1 billion. They already invested in more than 200 companies and some of their portfolio already are the unicorn like Tokopedia in Indonesia.

- Bitbns (https://bitbns.com/) the largest Crypto exchange in India with 2.2 million users.

- Ascent launchpad, the potential launchpad in Bitbns

We are also talking with other potential partners in crypto ecommerce, NFT marketplaces, and will announce when we officially launch the collaboration.

Mr Hubert: Thanks for your sharing. We continue to spend some time with VCM audiences and Mrs Nguyet again. :))

Can’t wait any longer. I think the audience is wanting to learn more about the project:

What are the memorable milestones of bePay Finance in the research and development process?

Mr Bach: Our milestone: A. 12/2021–02/2022

Build & refine platform prototype including:

- Farming dApp: Allow yield farmers/lenders to deposit stablecoins into stable-coin pools, included but not limited to (USDC, USDT, DAI, USDP, etc..). After depositing, lenders will receive beTokens (based on a dynamic exchange rate) which are used to redeem and receive their original amount + interest accrued.

- Selling (Merchant) dApp: Allow merchants to publish products for sale via bePay Platform.

- Shopping dApp: Allow shoppers to buy and pay in 4.

B. 02/2022

- Staking beCoin.

- Grow merchant network, API with ecommerce platform for first BNPL transaction.

- bePAY Protocol (beBNPLPool, beFXO) on testnet.

- Listing on other Exchanges.

C. 4/2022

Platform on testnet (farming, selling, shopping).

D. 5/2022

Off-chain credit assessment module .

E. 6/2022

Platform on mainnet — ETH -

Listing on other Exchanges.

Mr Hubert: Feeling quite excited about this project, sir. I think everyone will love it and support it as well.

There is quite a lot of great information about the project. I feel pretty excited about it.

Which is the most potential info in bePAY project?

Mr Bach: We see we could summary the most potentials in 3 things:

1) Huge market: As you see, the most potential token will need a huge market and large room for growth.

And the Buy now pay later market is the market like this one.

According to McKinsey, the BNPL market values at $106 billion in 2022 and it is the fastest growing sector in personal loan with 20% AAGR.

We also are the Pioneer in this fastest growing industry.

2) Existing product: active stores and user network (…): their partner bePOS is running a network of 10,000 stores and 300,000 user across 10 countries.

3) Experience team in Fintech, Technology, Business and MKT.

Mr Hubert: A lot of advantages that I think the audience also understood the potential of the project.

We to the last question of the Q-A segment:

What does bePay Finance plan to do to attract more users in the upcoming time?

Mr Bach: We have 5 strategies to attract more users substainable in the long term

1) Focus to the B2B2C in crypto e-commerce, crypto marketplace to provide their merchants and users the BNPL solution. That will benefit both of us.

2) Viral shares, giveaway program

3) Referral program:

4) KOL network to share the Useful content and Tips for the long-term

5) Personal Finance Academy platform to share how to spend and manage money smarter.

Mr Hubert: How wonderful, sir. VCM will make a small contribution to the project support. Nice to do this. 😊

The last question is already done. Thank you @BachPham for bringing the above useful information.

We’ll move on to segment 3: Questions on Twitter.

#1 Many new projects initially developed well but were suddenly abandoned. How will you manage your project to get your position on the market and become the best project in the blockchain world?

Thank you for the good question. We see investing in a Crypto project is like investing in a technology startup company.

The most important things are:

1) The potential market and vast possibilities of growth in long-term

2) Team: Experienced; has conquered a broad array of industries — Technology, Business, and Marketing

3) Good traction: Creditable product & Existing network of merchants and users

With confidence, we believe that we have acquired fully 3 characteristics as mentioned above. For more explicit evidence, we are also trusted by the famous partners in the region: Beenext, Bitbns…

#2 What is the ultimate mission that you trying to achieve in crypto field? Obviously crypto market will experience huge growth in upcoming years, so which role would you like play in this game?

With the inception of bePAY, we aim to serve as a world-wealth contributor by building a bridge connecting the crypto capital (DEFI) to provide more to the Buy Now Pay Later demand:

1) Token Economy creates a new way of growth to the network effect, reducing Customer Acquisition Costs and increasing the viral share.

2) Crypto helps us increase the efficiency of Operation at least 10X-20X compared to the traditional software company.

3) We could access customers around the world and become a global company on the first day.

#3 What distinguishes BEPAY_BNPL project from other project and how many participants does it now have? What can we expect to see in the future that will lead to the creation of a virtual world?

The distinguishes are 2 things: A. Existing network of merchant and consumer :

We also have the existing network of 10,000 active stores and 300,000 users in Australia, Vietnam, Philippines, etc

B. Team:

We have a team of developers & finance experts who have 20+ years of experience in the retail industry.

And we will contribute mass of our work in the virtual world by providing the BNPL services for the NFT marketplace. That mean the creator could sell more, the consumer buy more and give the benefit for both of them, drive more creation in metarverse!

#4 Currently, most projects and platforms are in English. How will the projects reach non-English speaking local communities? Make it easy for people around the world to use your service. Do you plan to develop the project in another language?

Yes, we do.

1) Currently, our network has spread over 10+countries; therefore, we can guarantee that we are experienced enough to work and serve multicultural and multi-languages clients professionally.

2) Also, adding to the mentioned, we already have plans to connect and reach non-English local communities, where people are more demanding and hungrier for new products and services;

3) Our potential clients are the Z Generation and Millenials, who will be significant buyers in the global market. All in all, with the mission of globalizing crypto, we make sure that we already have clear roadmaps in place to reach out to all corners of the crypto community.

#5 Could you please us the motivation and benefits for traders & investors to hold your token for long-term? Are there any program for users to earn more your token as well as other rewards? And please share your plans to help drive the demand and scarcity of token in circulation.

07 Reasons that affect the token price rise in long term:

1) The Project profit comes from the three fees mentioned above, and all kinds of profit from BNPL activities will belong to the platform. Our project extracts 20% from the profit to buy back tokens and burn them quarterly.

2) Token will be continuously listed on creditable crypto exchanges to popularize and improve the project’s community.

3) The total amount of token is 1 billion and won’t be able to mint under any circumstances.

4) All tokens distributed to Our Team, Advisors, and Foundation will be locked for three years or when the project’s market cap rises above 300 USD 3 months in a row.

5) Merchants having the demand of staking tokens can receive promotions regarding payment and BNPL fees.

6) Users can stake our tokens to increase their BNPL’s buying limit.

7) Holders can stake to acquire more tokens in bePay.

And we have the Referral Program that reward 50 Token in this form: https://gleam.io/5tTXS/refer-a-friend-to-get-50-becoin-token-for-both-of-you Submit and grab your token. Thank you!

Mr Hubert: The last question is already done. Thank you @BachPham for bringing the above useful information.

Next, the Vietnam Coin Market Community will open a chat for the community to ask questions to the project. We will have 120s to ask. The bePay Finance project will then choose 5 questions to answer.

Let’s go!

Now!

Let’s give some mins for @BachPham, @ngoctn20, @vbhvsth to choose 5 questions to answer.

@BachPham, @ngoctn20, @vbhvsth, you may proceed now.

Question 1. Southeast Asia is a very vibrant market and there are many new platforms under development. So what do you think about Southeast Asia and do you have plans to grow there?

Sure, we started in Australia and currently we serve customer in 10 countries: Australia, Vietnam, US… The South East Asia is a huge market and we have plans to expand the business here.

Question 2. What is the most ambitious goal of your project? What is the ultimate vision that Your project is trying to achieve within the cryptocurrencies market? I would appreciate it if you could share with us any Upcoming Updates?

We aim to become the Top 1 Crypto BNPL service in the world. With our advantages in Team, Partners, Existing network… We believe we could execute faster than other competitor and archive the success in the long run!

Question 3. Since NFT is popular nowadays, is there a plan for NFT integration?

One of our major target market is NFT market. And we plan to have the first version of product in Q1.2022 for the NFT market. You could start buy NFT buy BNPL service at that time. Follow us to keep update!

Question 4. Can you please explain what are the advantages of using your Platform and is it friendly for beginners like me?

Sure, we have experience runs mobile products for more than 300,000 user. The friendly and easy to use product are our advantages. More than that, our CTO & Co-Founder — Ngoc Truong already built a mobile app that have more than 4 million users. So keep connect and update to be one of the early adopter for our solution!

Question 5. Nearly 80% of investors only focus on short-term token price instead of understanding the real value of the project. Can you tell us the motivations and benefits for investors to hold your tokens in the long term?

As you see, the holder of Bitcoin and other investor earn the Biggest profit when hold the crypto in 3–5 years. The long term investors earn much profit than the trader. Then when you invest into bePay, remember our advantages that: Market, Team, Traction… and think like a Technology venture investor!

Mr Hubert: So the AMA bePay Finance at Vietnam Coin Market (VCM) is also coming to an end. Hopefully in this direct exchange, the community has a basic understanding of the bePay Finance project. I am the moderator today. Congratulations to the bePay Finance.

Thanks @BachPham, @ngoctn20, @vbhvsth for joining AMA with the VCM community today. Wish you much health and success.

Again, don’t forget to join the bePay Finance community for further assistance. Thanks everyone.

Website: https://bepay.finance

Telegram Group: https://t.me/bePayglobal

Telegram Vietnam: https://t.me/bePayvietnam

Medium: https://medium.com/bepay-news

Twitter: https://twitter.com/bePAY_BNPL

Youtube: https://www.youtube.com/channel/UC8NVWQCELIJaMLYuNo_6xDg

Earn 50 beCOIN token free, here: https://gleam.io/5tTXS/refer-a-friend-to-get-50-becoin-token-for-both-of-you

VIETNAM COIN MARKET COMMUNITY INFORMATION:

Vietnam Coin Market Community: http://t.me/chocoin_VN

AMA channel: http://t.me/amachocoin_VN