Ooga

The need

Small businesses are at the heart of every economy. The small businesses that come into daily contact with households have the complex burden of running a small business, which poses a financial, marketing and ongoing operational challenge, among other things, in dealing with significant clearing costs for the credit card companies, who bite into the profits.
The world of payments, which was born in the ninth century and actually even earlier, since people began to trade with each other in barter, has undergone a major revolution in recent years. Alongside the growth in consumer and business sources and payment systems, consumers and businesses today are looking for comfort, simplicity, and availability - without sacrificing the need for security and a fair price.

the solution

Ooga has developed a system that enables small business owners who depend on clearing systems, to clear credit card transactions and to receive payments from digital wallets, easily and at minimal cost, positioning the platform as a worthy competitor among the existing options in the market today. The user's experience lies at the center of the technological innovation offered by the system, in order to enable fast and convenient payments (FRICTIONLESS PAYMENTS).
Ooga helps the growth and prosperity of businesses that partner with it, through a unique and successful cooperation with a leading financial institution, providing a simple yet comprehensive framework for managing the business and all its financial needs.

How does it work?

With Ooga you can pay and transfer money with your mobile phone only, using Ooga's digital wallet, to transfer money, make payments from your credit card, bank account and soon even cash, all from your mobile phone. No wallet, no ATM, no commissions, and no bank account.

The system works with all types of bank and credit card accounts, and meets every need, from a supermarket or store payment, to making various types of payments.
The system also allows consumers to make payments from their credit card, bank account and even cash - all from a unique payment application installed on the mobile phone.

Ooga Wallet - The digital wallet that allows everyone to forget their wallet and transfer money, make payments and purchases, using only the smartphone.

Ooga Pay - A friendly digital platform which enables business owners to clear credit cards, make payments to suppliers etc. All using a smartphone or a PC, easily and at a minimal cost.
 

Among the services offered by Ooga:

• Online Register - a smart and advanced register, which can be operated via any device: smartphone, PC or tablet. It offers an extensive solution for the sale process and includes smart tools for managing the business.
• Credit card clearing - meet the new generation of credit card clearing, from the PC, smartphone or tablet.
• Suppliers payment system - a friendly and easy interface for businesses who use Ooga's credit card clearing or payment services. It allows using the money accumulated to pay suppliers, make recurring payments or transfer it to a bank account.
• Consumer Clubs - Ooga's speciality is in forming highly effective "consumer clubs", starting from marketing advice, hands-on operational training, embedding the interface into registers, defining savings sales, marketing communications and reports.

Concept and vision

Ooga is an innovative digital platform for transferring and receiving payments via credit, cash or bank transfer, easily, quickly and at minimal cost. Ooga addresses the SME market, which accounts for 99% of the business market in Israel, allows saving on commissions and enables, among other things, receiving payments from customers through various means of payment, as well as making one-time or recurring payments to suppliers. Subject to regulatory approvals, Ooga aims to expand its range of products and services available to business customers in Israel, to allow them a complete solution to all the financial needs of the business through Ooga.

Ooga believes that the Israeli business community deserves a set of financial products and services that will be accessible, convenient and fair. Since none of the banks in Israel provide a system that meets these requirements, the company has decided to set up such a platform for the benefit of the entire business owners community in Israel and their customers.

The management of finance and banking has become exhausting for small business owners. It does not have to be that way. There are places in the world where banks, for all their financial expertise, are the most important tool for entrepreneurs. They do not cause anxiety, overload the business owners, or take many hours of work. They act as partners to help independent entrepreneurs, companies and new businesses to establish themselves.

An examination conducted by the company with many business owners in Israel shows that, for most banks in Israel, there has been erosion in these relationships with small and medium-sized business owners. Along with expensive and polished marketing campaigns, business owners encounter an uncomfortable, expensive and even unfair policy in their ongoing relationship with their accompanying bank.

Ooga's goal is to eliminate the difficulties and excessive costs of banking and financial management services for start-ups and small businesses. The Company invests great efforts in establishing an advanced and unique array of financial products and services for the benefit of the business community in Israel.

Ooga strives to be the first line of defense available to its customers against the burden of financial management and banking. The enthusiasm and dedication of the company and its leaders for this purpose are reflected in every aspect, from the business model, technology and design, to the company's business culture.

Ooga's team consists of banking experts, experienced entrepreneurs, engineers and designers who are eager to help businesses thrive by creating the world's most efficient business banking experience. Ooga invites you, the potential clients of the venture, to assist in its establishment and financing, and to be partners in the forming of a community initiative that will serve the entire business community in Israel.

Business model

In the first stage, the platform will be launched at no cost to consumers (who make payment) and at a low cost to merchants who receive payments through it.

These businesses currently pay 1-2% fee to the credit card companies (depending on the size of the business and the type of activity), while Ooga will collect only 0.5% for payments made to its digital wallets, on its way to holding a significant market share in this market.

The company will work both in P2B and P2P: