Pay have now established our ticketing services all over Finland and can count over 500,000 users. This means that we have now reached technical maturity, found market fit, and have the financial foundation to start taking the next steps.
An important focus area is City Acc, and all its possible applications. City Acc is a revolutionary ecosystem we are developing to transform the way we access and track transport. But that’s not all. With City Acc, we are also providing a fun and engaging way to measure and reduce CO2 emissions for individuals, organizations, and regions alike.
During Q1, we secured financing for the City Acc initiative MVP, and our first app with game-changing capabilities will be available in the app stores when this article is posted. By teaming up with award-winning German mobility analytics technology we can add to our service an AI-driven CO2 footprint calculator that can track up to 20 different modes of transport. With this feature, both individuals and cities can gain valuable insights into real-life mobility choices and how they affect the carbon footprint.
The business model of City Acc ecosystem is manifold and needs to be explored. Right now, we are focusing on the one hand on the individual experience involving local services and stores, and on the other hand on the corporate, municipal, and regional levels.
For the individual, every time they make a sustainable travel choice and save 5kg CO2, they earn Climate Coins. Coins can then be exchanged for vouchers from our partners. Building and managing an ecosystem of partners will be a priority in the coming months. Once that ecosystem is up, we can bring a variety of new services and opportunities to our users. One fun feature is that this partner network can be international. CO2 calculation and usage spans European wide.
The other immediate field of opportunity is turning sustainability into a competition between organizations, cities, and regions. Driving down emissions caused by traffic is one of the hardest climate-related challenges we have, and here we have a fun way to engage more people to think and act for the good of the planet! Through the data provided by the app, it is easy to see who is making the most progress. We have already received a very positive, at times excited reaction from companies and municipalities. We hope to see some companies and maybe even municipalities in friendly competition against each other in lowering their CO2 footprint already this year.
Read the whole blog article on PayIQ’s home page by By Pirkka Lankinen, CEO of PayiQ
Image is also from the same blog on the PayIQ website.