Startup Technologies Sator launches startup Tinaba
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Luke Tremolada | 19 November 2015
After two years of work Sator, the private equity fund of Matteo Arpe, launching a startup in panorma of mobile payments and Fintech. Tinaba, which stands for “This Is Not a Bank” in the wake of other projects as Satispay and 2Pay company strives to turn your smartphone into a virtual wallet to allow the payment and transfer of money.
But unlike similar initiatives the startup Harps will work in conjunction with a credit institution (for each country in which it will present to comincaire by Banca Profilo in Italy) and apply it to an enabler of innovative services bank. The targets seem to be especially teenagers. The app (which will run on mobile systems Apple and Android) intends to become a sort of WhatApp between parents and children. It will operate free money transfers abroad, vehicular forms of micropayments, organize “common funds” virtual and crowdfunding campaigns. No explicit objective to replace the existing credit card merchant offering lower fees.
From the outside it is a smartphone app for the Apple Store and Android (soon on mobile phones Windows). Unlike other reality, technology Tinaba is designed to operate in connection with a traditional banking institution. Technically it allows you to make money transfers in a peer-to-peer. And so is a candidate to disintermediation credit cards in the wake of large technology vendors such as Apple, Google and Paypal and small startups like 2Pay and Satispay. These are a tool to transfer money directly from your mobile phone, using as “Iban” the phone number. Basically, the money passes from one terminal to another, whether to an individual or a merchant who has joined the platform: you download the program to your phone and fits your Iban to authorize transactions from their account to the wallet. Tinaba has the merit of federate numerous services in a single application. In terms of regulation is configured as a virtual prepaid card to rely on to manage in just two steps, debits and credits from the bank accounts of the European countries. In a sense, than other solutions like Apple Pay leaning to credit cards, Tinaba candidate to transform the bank into an enabler of services.
To be then the smartphone interface via an ecosystem of innovative services which, however, require the involvement of merchants, shops and commercial activities. The interest of the latter is related to commission costs that promise to be lower than those of credit cards in exchange for value-added services. “This is not a Bank ‘in fact is designed specifically to meet the needs of teenagers. The choice of marketing is to want to replace the cash become something of WhatsApp to manage pocket money children, operate money transfers and more. Through this electronic wallet young people can organize such a common fund to pay for the pizza. You will enable an account for the baby sitter for small expenses. Parents will be able to lend money to their children when they are abroad (Tinaba but must rely on a credit institution and the aim is to take in every country in alliance with exclusive single bank).
The idea is not new, seems to be also to offer in shopping, restaurants and businesses the ability to create value-added services by using existing technologies such as geolocation, the Gates (is also a project credit card itself can interact with the app on your phone). With a little ‘creative platform Sator is a candidate to organize such campaigns crowdfunding, social lending and microcredit activities. To be successful these initiatives require a strong involvement from below. As also happens to Apple and Google, the service works not only if a community more or less extensive decides to adopt. But especially if the ecosystem that revolves around the owners of the app chooses to adopt it by inventing new services. Uber teaches.
From December 8 will begin the phase of testing as from mid-January will commit them to download invitation.
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