A Spanish Fintech, a Boston Investor and a Global Start-Up Agency partnership. What happens?
A brand that can change the way Europeans shop in their cities is born.
A way to pay that supports the community may seem utopic, especially when payments are associated with “giving”, never with “receiving”. And it’s not surprising at all that payments tend to have a negative resonance when we think about the fact that transactions are no longer just a simple way to exchange value, but rather a way to tax value. Whether you pay or you get paid, you are charged for every transaction by a “middle man” who asks for his share. WayPay hits the market with a product that eliminates the intermediaries from the transactional process. And by also eliminating the taxes they required, it contributes to the emergence of a phenomenon with a strong, positive impact upon the community.
Who is this Spanish Fintech and how we’ve met them?
Globally, retailers pay considerable amounts of money in payment commissions. Moreover, they do not have access to customer data in order to be able to provide them with a pleasurable shopping experience. Options to interact, attain, retain or add client value are limited. WayPay wants to give them better options.
To put it short, WayPay is a startup from Spain that helps retailers launch and manage their own payment method. We met them at Startup Bootcamp Amsterdam, where we instantly fell in love with their product. We were quite a diverse crowd: a Spanish Fintech, a Boston Investor and us, a Global Startup Agency. We said: what could possibly be better than this?
So, we enthusiastically started collaborating. The Heraldist team was present there as mentors. We took our role seriously and together with the WayPay team we started the process of defining the product on the market. While most fintech companies use technical and complicated language, WayPay positioning wanted to be simple and capture the essence of the brand.
POSITIONING:
Your own payment experience that empowers you and your community
”In all honesty, the product, WayPay, is a capable platform that can do amazing things. In the discovery phase, we realised that they used as their main message «the disintermediation of payment» and that it's not the technology you use that makes you different, but rather how you put it to good use. This is the key element on which the value proposition is based: «the payment experience for you and your community». The people who live in local communities and shop for groceries, go out for coffee, buy flowers or have a haircut, have a better life because of all these local products and services. WayPay is the commercial solution that supports this good life.”
Teodora Turcu, Brand Strategist Heraldist
In an almost cashless world, all transactional methods charge fees through intermediaries. In this context, WayPay offers a commercial solution that helps both small businesses and residents. Small businesses now have a way to be paid without commissions, but also a marketing and communication platform. At the same time, resident consumers have a contactless payment method and a versatile loyalty program that rewards them and their community. Thus, the community is energised by triggering the local multiplying effect which generates prosperity and economic growth. Buying local becomes easier, simpler and more fun.
BUILDING THE BRAND IDENTITY
When thinking about the brand identity, we wanted to convey the brand’s values and personality, but we also wanted to position it as a tool that works for the benefit of the community. This wasn’t easy to do when you activate in the technological and financial landscape where the communication is often cold and formal. But even though WayPay operates in a pragmatic area, it is a human brand that puts improving the consumer’s life first. It is also a brand that is solution and people oriented and last but not least, it’s an optimist and positive brand. These attributes are visible in all materials of the new identity from the tone of voice, to the logo, illustrations and website.
“The focus for the logo design has been the community: visualizing how WayPay is a helping hand, by creating a seamless payment experience and strengthening the ties between community members. The new serif font, bright color palette and hand drawn illustrations are the reflection of Waypay’s tone of voice and positioning: optimistic and fun, far from the usual more serious fintech identity approach.”
Ainhoa Morales, Art Director Heraldist
LAUNCHING AND FUTURE PLANS
While the product launch is in preparation, we already started working on the communication campaign. It will be launched at the end of this summer and it will target Spain, followed by the rest of Europe and the United States. Exciting, right?
Not to mention that collaboration between a Spanish Fintech, a Boston Investor and a Global Startup Agency was definitely a good idea.
“Heraldist Team was a pleasure to work with and provided an outstanding result. There were iterations where we felt we were not "in-synch" and with patience and respect we were always able to get on the same page. We always felt we were talking to true experts in each of the fields (copy, design, strategy...). First proposals on each deliverable were always in time. Each iteration, based on our feedback, was very fast, never more than 3 days.” Oscar Anzola, CEO WayPay
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