Updated: Sep 11
Where did the idea for ScribePay come from? ScribePay is focused on shifting the balance of power to consumers, giving them control over recurring payments. The idea for ScribePay started after the founders had trouble with a subscription “trap” and thought there has to be a better way to manage subscription content.
They weren't happy with the limited current options and therefore decided to start up their own business as the “one-stop” place to manage subscriptions and find unique offers and deals from favorite companies. Their initial research found that over 2M people fall foul of subscription traps every year. This adds up to a total loss of £100-200M per year! What is the unique selling point of ScribePay? ScribePay is an all-in-one app to help users pay, manage and cancel subscriptions, making it easier to keep on top of payments. ScribePay will work with smart devices, providing customers with a digital wallet and multi-use virtual cards to sign up for online services that require on-going subscription-based payments. The benefits of a virtual card are flexibility and total control. Unlike the traditional approach where payments are made with a personal credit or debit card, using a virtual card allows you to cancel anytime and avoid subscription traps. So consumers will always be in control of their payments.
About the founders Delphine has over 12 years' experience in the payments industry and has worked for three of the top five financial institutions in the UK. She holds an M.Sc. in International Accounting and Strategy. Ikenna holds an M.Sc. in Data Telecommunications and an MBA in Strategy and Finance. His technical experience spans 25+ years of delivering digital customer experience software.
When did ScribePay start? The business was incorporated in 2020. It has received support from Barclays Black Founder Accelerator with Barclays, part of Eagle Labs, as well as Foundervine. These organisations helped the founders turn their ideas into reality.