Tell us about ScribePay.
ScribePay is a payments business focused on revolutionising the way consumers pay and manage subscription services. Our mission is to give consumers control, security, and peace of mind over the payments they make.
ScribePay’s service will be delivered via any web browser or smart device app; providing customers with a digital wallet and multi-use virtual cards to sign up for online services that require on-going subscription-based payments e.g. catalogue or magazine based subscriptions, weight loss and fitness-related programmes, or digital gaming services that require in-play gaming financial transactions.
Our platform will also ease the ability to cancel or renew subscriptions, reducing the financial exposure currently experienced by over 2m people in the UK (in the form of subscription traps) and an annual loss of £100m.
Beyond subscription services, the virtual cards can be used by the risk-averse digital shoppers willing to purchase products or services online from lesser-known or untrusted brands and websites.
Why did you join the Barclays Black Founder Accelerator?
ScribePay is an early startup. The knowledge and the comprehensive support that is available via any accelerator programme is transformative. With Barclays, you have an organisation that is well versed in supporting startups and a reputation in backing innovative ideas, especially with past accelerator participants like flux who have indeed gone into partnership with Barclays.
Also, as alumni of the Barclays Graduate Trainee Programme I first hand understand what it means to have the resources from an organisation like Barclays available to someone fresh out of university. I see my self exactly in that same position with ScribePay and have every trust in the impact.
What would be your desired outcome from this programme?
Like most early startups, the desired outcome would be pre-seed funding to take ScribePay to the next level. Beyond the monetary desire, I am also looking forward to a breadth of knowledge and new relationships that will be established with other participants, mentors, and investors.
Which entrepreneur inspires you the most and why?
Oprah Winfrey. Despite her background and environment, she broke down barriers, defied the odds, and developed a multi-billion dollar empire. It shows anything is possible.
What has been your biggest win in your entrepreneurial journey?
Seeing the problem that ScribePay is set up to address and recognising that there is a large enough opportunity to make it worthwhile solving the problem. In addressing the opportunity, we have engaged with technology partners and card schemes all of whom are committed to addressing the subscription-based problem with us, and that for us is an 'initial' big win.
And your biggest challenge?
Our biggest challenge will be acquiring new customers at an accelerated rate. We are looking to push the barriers in terms of customer adoption and growth for a business like ours, but we know the demand is out there and tapping into that demand will be our biggest challenge.
