Target Market

Background

In fact, prior to developing ErgoPOS, our team have been fully devoted to the traditional POS sector locally for over 17 years. Merchants frequently inquired us about the possibility of adding cryptocurrency payment. We also fed back this requirement of these merchants to the manufacturers of the traditional POS terminals, but the answer we got was that it was impossible because the players behind such terminals are traditional banks.

Over the years, cryptocurrencies have become increasingly popular. According to an authoritative survey, currently, 3.1% (3) of adults in Malaysia own cryptocurrencies and the figure is increasing at a very fast rate.

We believe that the launch of ErgoPOS will encourage more people to contribute to the blockchains and also help Ergo to promote Ergo's advantages and benefits.

Target Market

We will initially launch the ErgoPOS in Malaysia as our starting point, because the country is a place that is quite friendly to blockchains and cryptocurrencies. Once we get a firm foothold in that country, we will penetrate into the neighbouring Southeast Asian countries and regions and then go beyond Asia. Following Malaysia, our next target markets are Singapore, Thailand and Indonesia because we currently have a good and full understanding of how the market works in Southeast Asia, especially Singapore, Thailand and Indonesia.

Market Demand

As blockchains and cryptocurrencies are becoming increasingly common, we believe that every merchant will have to own at least one POS terminal that supports cryptocurrency payment. There are approx. 650,000 merchants in Malaysia. MasterCard had a goal of selling 800,000 POS terminals nationwide in that country by 2020. This shows that POS terminals have a very huge consumer market.

Target Audience

Outdoor Merchants

ErgoPOS will be an ideal choice for the merchants who provide outdoor sales and services because they cannot take a bulky cash register out of their houses. These outdoor merchants will constitute the most important portion of the ErgoPOS user base. Examples of these merchants include the merchants who sell merchandises around by driving their vans and the technicians who provide on-site maintenance service, etc.

Retail Stores & FnB Outlets

Retail stores and food & beverage (F&B) outlets often hold a variety of events involved in different themes to catch the eye of potential customers. However, blockchains and cryptocurrencies are excellent themes that may attract a huge community of blockchain and cryptocurrency enthusiasts and supporters to visit and spend money in these stores and outlets. If they are equipped with the ErgoPOS terminals, their customers can easily pay the bills in ERG or other cryptos supported by ErgoPOS. This will not only bring a good traffic to the merchants but also will provide convenience for the consumers in carrying out payments.

Universities

ErgoPOS will be brought by us to the universities because they have always been the best places where creative ideas and novel innovations are incubated and we believe that innovative blockchains and cryptocurrencies will be more easily recognized and accepted by the university students along with ErgoPOS that supports cryptocurrency payments. When all kinds of events are held by the students in the campuses, the checkout payment terminals like ErgoPOS terminals may be used by them to receive payments. In this case, we will catch every opportunity to promote ErgoPOS at such events, thus producing great marketing effect on ErgoPOS.

Cab Drivers

Every day, cab drivers serve different passengers including a variety of foreign tourists from different countries and regions across the globe. Now, the foreign tourists have to pay the bills in local fiat currencies. However, this situation will be changed if the cab drivers are equipped with ErgoPOS terminals that support cryptocurrency payment. ErgoPOS will provide a new payment option to the passengers and avoid the trouble that the foreign tourists have to exchange their own fiat currencies into local fiat currencies. Instead, passengers can directly carry out payments in ERG or other cryptocurrencies supported by ErgoPOS.