About

Libya faces a major financial challenge: many citizens have money in their bank accounts, yet limited cash liquidity makes it difficult to access or spend it. At the same time, small vendors rely almost entirely on cash because card machines are expensive, hard to obtain, and unreliable with current infrastructure. This creates daily friction for consumers and prevents small businesses from participating in a modern digital economy. We aim to build a nationwide mobile payment system that allows people to pay vendors instantly using their phones, without needing cash or card machines. Payments will happen through QR codes and phone-number transfers, turning any smartphone into a simple, secure payment tool. The goal is to make everyday transactions—like groceries, transportation, and market purchases—fast, cashless, and convenient. Two payment models will be used: 1. In-App Wallet (Phase 1): Users add money to a digital wallet inside the app and pay vendors from their balance. This model allows us to launch quickly despite the lack of available bank APIs in Libya. It requires strong security, clear compliance processes, and a smooth way for vendors to withdraw funds. 2. Direct Bank Integration (Phase 2): Payments move directly from bank to bank, similar to Zelle or Apple Pay. This will follow once partnerships with banks and regulators develop. Transitioning to this model long-term increases trust, reduces operational risk, and improves scalability. Target users: • Small vendors who lack access to card machines • Consumers who have banked funds but struggle to access cash • Later stages may include transportation, service providers, and medium-sized merchants Technology approach: • Simple Arabic/English UI designed for all digital literacy levels • Merchant app plus USSD support for vendors without smartphones • QR-based payments for minimal data usage • End-to-end encryption, strict KYC/AML, 2FA, and fraud monitoring • Offline-capable payment tokens for areas with weak connectivity Adoption plan: 1. Onboard vendors, provide QR materials, and offer zero-fee early incentives. 2. Consumers use the app for everyday small payments, building routine usage. 3. Digital funds circulate, increasing trust and reducing reliance on cash. 4. Use adoption data to secure bank integrations and regulatory support. 5. Expand services such as bill payments, mobile recharge, and merchant tools. Go-to-market strategy: • Start in Tripoli with everyday vendors: bakeries, small markets, taxis, coffee shops. • Expand to a second major region during Phase 2. • Introduce merchant dashboards, basic accounting, and analytics in Phase 3. • Run local partnerships and on-ground outreach to accelerate adoption. Revenue model: • Small vendor transaction fees • Premium merchant accounts • Bill payment commissions • Vendor promotion and marketing tools • Optional value-added services as the platform grows Key risks & mitigation: • Regulatory risk: Begin with wallet model and partner with a local bank as custodian. • Adoption risk: Offer easy, fast withdrawals and strong vendor onboarding support. • Security risk: Use high-level encryption, 2FA, and automated fraud detection. • Connectivity issues: Support USSD and offline-compatible payment flows. Why this matters: This solution directly addresses Libya’s nationwide liquidity problem and empowers small businesses to accept digital payments without needing expensive hardware. It supports financial inclusion, reduces dependency on cash, modernizes local commerce, and strengthens the country’s transition toward a digital economy. What we need: A professional who can create a complete, investor-ready business proposal including market research, financial projections, risk analysis, regulatory strategy, and an implementation roadmap.