May 19, 2020

Toronto startup QUID launches micropayment platform

Fintech
QUID
micropayments
Mohit Muthanna Cheppudira
nat blo
2 min
Toronto startup QUID launches micropayment platform

Founded in 2018, QUID is a Toronto-based fintech startup headed by Google veteran Mohit Muthanna Cheppudira and Kevin McCall, with backing from Relay Ventures and Mistral Venture Partners. The company announced today that it has launched its core offering, a modern payment platform with a focus on micropayments.

The platform is the first of its kind in Canada. Aimed at users looking to monetize online content without resorting to advertising or subscription plans, QUID makes it possible for podcasters, writers and bloggers, nonprofits and developers to accept payments as low as 1¢ for articles, podcasts, and donations.

"Today's consumers are fatigued by subscription-overload, and content creators need predictable ways to expand their digital revenue, beyond schemes such as ads and subscriptions," said Cheppudira, QUID’s Chief Executive Officer. "QUID unlocks a whole new revenue model – giving creators the means to turn many small revenue streams into a much bigger one. Now it makes sense for content creators, service providers and publishers to transact in much smaller amounts, because they can accept payments under a dollar without the impractically expensive transaction fees."

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While most credit card providers charge an average of 30¢ per transaction, QUID has no base per-transaction fee. As a result, QUID is 30% cheaper than other payment processors for transactions under a USD$1.

"There's a growing number of people who want to contribute small amounts to sustainably fund the content and services they consume online," added McCall, Chief Operating Officer at QUID. "We make it effortless for users and creators alike. Our seamless integration tools allow merchants to monetize small transactions with affordable transaction fees. In turn, users can contribute a little, but may be more inclined to convert one-off purchases into long-term subscriptions in the future."

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Jun 18, 2021

Intelliwave SiteSense boosts APTIM material tracking

APTIM
Intelliwave
3 min
Intelliwave Technologies outlines how it provides data and visibility benefits for APTIM

“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.

We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time  spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.

Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate. 

With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.

There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.

Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture. 

It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.

Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.

On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.

As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.

A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.

 

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