MAYAN
Money transfers platform, a mobile and a web version.
A peer-to-peer money transfers from the U.S. to Mexico and from Mexico to the U.S..

1. A person or a remittance store (SENDER) would send Cash / Paypal / Venmo to MAYAN’s account
MAYAN converts USD to USDC using COINBASE or CIRCLE’s services
MAYAN sends the USDC amount minus fees to the SENDER’s WALLET

2. We will integrate in the APP ACH transfers from a Bank Account (Using Circle, Stripe, or another provider). We will transform USD to USDC using Coinbase or Circle’s services.

3. We will integrate a DEBIT CARD processing provider (Circle, Stripe or another). We will transform USD to USDC using Coinbase or Circle’s services.

4. Once the SENDER has USDC in their wallets they will be able to send Mexican Pesos to the RECEIVER’s wallet using the Stellar DEX.
We will have a AMM Liquidity Provider running offering liquidity between USDC and the Mayan’s MXN Token using Market’s prices from BITSO Exchange or another major exchange in Mexico.

The customer receives Mayan’s MXN Token that can be used in STORES (OXXO Convenience stores) or any store that would like to receive Mayan’s MXN Token. Mayan’s MXN Token can be redeemed by cash using OXXO, Bank Account Transfer, ATM using Bitso or any other major exchange.

Peer-to-peer money transfers in Mexico using STP, Banks and other institutions and stores such as OXXO, Sorianas, Coppel and more.

Problem and Solution

Problem:
High fees to transfer money from the US to Mexico
No peer-to-peer payment application in Mexico.
Applications are very difficult to use for the average non-technical consumer.
Transferring money from the US to Mexico takes hours or even days.
People in Mexico need to go in person to banks or institutions to receive the money.

Solution:
Quicker Money transfers from peer-to-peer with lower fees.
A mobile app easy to use for migrant workers in the U.S.
Mayan will integrate with Paypal, Venmo, Cash Deposit, ACH Deposit, transfer Coinbase, and Circle using a MAYAN stellar USDC account in our app.
Mayan will work with STP and Bitso in Mexico for peer-to-peer money transfers.
Mayan will also work with the Mexican OXXO stores for deposits or transfer in Mexico using the Mayan app.

Target Market

Our main customers are people who sends money from the US to Mexico, but also all the people in Mexico who make any type of payment.

In 2020, Mexican migrants sent $40 Billion to Mexico from the US.
We have identified our main customers in the US as mexican migrant workers.
We are familiar with them because part of our team are mexicans and we are also mexican migrant workers.

We will be focus on the main cities of the US and Mexico first, then we will be covering all the rest.

Revenue Model

Our business model is oriented to seek the largest number of customers as quickly as possible. Transactions of less than $250 USD will only be charged a commission of $ 0.35 USD (being the cheapest in the market). The goal is that the customer is satisfied and checks the innovative customer experience that we offer via the app and our online site, so that the customer returns and continues making transactions. For amounts between $250 to $1,500 USD we would charge a fixed commission of $0.45 and for amounts over $1,500 USD it will be a percentage of 0.15% of the amount to be transferred.  

In order to look for a constant growth we will apply referral marketing where our own clients will be salesmen and spokespersons of our services. We will offer discounts, special promotions, coupons, discounts with associates of other companies, for the greater number of clients that they bring to our platform.
Regardind the costs, we are using the Stellar network, allowing us that the price of transactions will be lower since we already have different interfaces and the means of interaction, such as the app. As for the costs at the time of using the Stellar network, the price of transactions will be lower, since we already have different interfaces and the means of interaction, such as the app. With this, we will be able to reduce commission costs, which is one of the points that customers value the most. We will also facilitate the speed by using the Stellar network it is possible to make instant transfers.

To provide timely and efficient support we will use virtual agents with artificial intelligence and specialized escalation to bilingual service agents in English and Spanish.

Our revenue will be as follows:
1st year - 50,000 transactions - sales: 4.5 MM - EBITDA: 1.9 MM USD.
2nd year - 200,000 transactions - sales: 18 MM - EBITDA: 7.7 MM USD
Year 3 - 750,000 transactions - sales: 67 MM - EBITDA: 29 MM USD
4th year - 200,000 transactions - sales: $135 MM - EBITDA: $58 MM USD
5th year - 200,000 transactions - sales: 360 MM - EBITDA: 154 MM USD

Market Research

According to https://www.npr.org/ About 40 percent of the remittances goes to just one country, Mexico, all of it sent by migrants in the United States.

In 2020, analysts believed that remittances were going to shrink for 2021 due to COVID-19, however, starting 2021, ''Bank of México data shows that $19.18 billion was sent to Mexico in remittances in the first five months of 2021, a 21.7% increase compared to the same period last year'' according to mexiconewsdaily.com.

Threats & Opportunities

SWOT Analysis

‍
Strengths
- High level of experience in architecture and software development specialized in money transfers.
- High level of speed and agility in software development
- Team members with experience as businessmen and entrepreneurs in different fields.
- MVP with a consistent progress, we have already successfully performed transfer tests between USA and Mexico
- Knowledge and application of digital disruptive technologies
- Team expertise in software development, finance, customer experience, operations, information security, and business
- Extensive knowledge of the market, the challenges, dissatisfactions and expectations of customers, because we live it on a daily basis
- Knowledge of competitor's strengths and weaknesses

Weaknesses
- Although we know the sector, we still have lots to learn
- We lack business contacts in the financial sector
- We lack contacts with financial operators
- Investment funds to realize our six-month plans.

Opportunities
- Market with the highest levels of international money transfers from USA to Mexico around 20 billions of USD per year
- Interest from established banks and retailers in acquiring startups
- Increased OpenBanking
- Mexican migrant workers  - less than 20% with bank accounts
- Banks' Transfer services are slow and very expensive
- Mexican migrants looking for cheaper rates and better service
- Increased mobile phone sales in Mexico with 80% coverage of the population
- Few companies with a disruptive vision in the market.

Threats
- Protectionism of banks in Mexico
- New international banking regulations
- Increase information security attacks in the financial sector
- New crises in the financial sector
- Decrease in transactions from USA to Mexico

Competition

We have identified there are three types of money exchangers, there are the traditional competitors such as MoneyGram or WesternUnion, which have a negative market image in terms of support, commissions and speed of transfers. The second class are new competitors (XOOM, RIA or Remitly) offering different services such as speed but with a high level fees. The third group (AirTM, XE or TransferWise) ) are disruptive, with low fees and high speed, using social networks to provide support and advice.

The issue of speed and cost in transfers becomes very relevant because it is the decision point for different customers. Another point of value is the availability of money in different media such as branches, bank transfers or virtual wallet, also the ease and interface with the app is a decision point, as well as the support and help in Spanish and its availability.

The following table provides a ranking of the most relevant competitors. We want to position Mayan in the quadrant of low transfer cost and best speed, availability and customer experience.

Marketing & Sales

1. Once our platform works as a charm, we will start pushing customers through friends and family who send money from the US to Mexico weekly.
2. We know many local hispanic store owners and people from the hispanic and Mexican community here in Utah, we will broadcast it to every mexican here in Utah first, then we will go national.
2. UNIVISION reporters are always very anxious to give news about hispanic people innovating, or making a difference here in the U.S.. Mayan would give a huge impact in the Mexican and hispanic community.
3. We are already in touch with Sebastian Carrillo a news reporter from UNIVISION here in Utah. We will use this channel to be on the national news and start the viralization of our Mayan app.
4. We will use  Facebook, Google, Instagram, Tiktok and other social media platforms for marketing. (We have already done to raise capital for kickstarter).

Resources & Relationships

Phase 1
- To concretize our progress in the MVP
- Define initiative plan and budget
- Dimensioning of human resources, technology and processes.

Phase 2
- Human resources hiring and technology acquisition
- Generate alliances with software development companies and companies specialized in the banking sector.

Phase 3
- Continue with the initial development
- Development of software interfaces and integrations
- Specialized certifications

Phase 4
- Customer proofs of concept
- Adjustments and improvements
- Planning marketing campaigns and sales actions with customers
- Alliances with public relations companies

Phase 5
- Plan market launch

• Main website - Answap.io

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