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NOCA
Executive Summary
In one sentence, what do you do?
New payment system that processes Merchant transactions at 0.50%: Consumers have unprecedented security, protection from identity theft and ease of use.
What problem do you solve for and for whom?
Organizations engaged in ecommerce are facing a significant problem: the high cost of credit card processing/interchange. Noca has launched an end-to-end online payment processing system that has reduced these costs by 90% for our current customers. Any end-user/consumer using a credit card to make an online purchase faces three problems: fraud, identity theft and cumbersome user interface. Secure Check TM from Noca solves all three problems.
What makes you different than anyone else in this space?
A payment system is a nothing but a network connecting consumers with merchants though a payment processor. The founder of Noca, Pankaj Gupta is the former Chief Network Architect, Director Network Security at VISA Inc. (was at VISA till late 2006). A payment system needs strong back-end security and engineering. Randy Nott, Chief Architect, co-founder was the Lead Architect at VISA's division of Internet applications.
What was the feedback received from your last investor or client discussion?
Awesome potential if you guys can pull it off.
Provide 50 words or less that would get someone like Warren Buffet to listen your pitch.
"David vs. Goliath" - we are a startup taking on legacy payment systems. VISA/MC have not seen much competition and innovation since the past 4 decades. We have built a payment system that processes transactions 90% cheaper for Merchants and unprecedented ease of use, security and convenience for Consumers/end-users.
What is the one word that most of the people you talk to about your product or service use to describe it?
Wow. Awesome potential.
Why are you "what's next" in payments?
Game changer. Payments 2.0
General Company Information
Founder: Pankaj (PJ) Gupta
Key members of the executive team:
Founder, President: Pankaj Gupta · Former Chief Network Architect, VISA
VP, Technology (and founding team member): S. Randy Nott · Former Lead Architect at VISA
Management's prior entrepreneurial experience
Company was founded in 2007 by former Chief Network Architect of VISA along with another Senior Engineer from VISA.
Number of employees: 4 full time employees
Funding Stage (i.e. Angel, Series A, B, C): Angel
Website URL: www.noca.com
Contact email: pgupta@noca.com
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Comments
We need a company like Noca. It has been a long time coming but I believe that they are going to be successful.
Everyone is tired of Paypal's rude and extremely poor customer service, high fees and making money off of their money by holding their funds for 6 months.
Noca offers smoother transactions, lower fees no chargebacks and their customer service is the best.
I signed on with them and I am going to encourage everyone that I know to sign on with them too. Competition is good for merhants as well as consumers. I think that Noca is going to take off like a rocket.
Posted by Val, 23/09/2011 12:47am (8 months ago)
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