HomePay
Your Secured, Renovation Payment App
Enabling trustworthy relationships between ID firms &
Homeowners in Singapore
Excel In Collaboration with Fintech Company HomePay, Your Renovation Escrow App
Our Wallet system is MAS approved & held in a DBS custodian account
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Watch Our Video On Excel's Partnership With HomePay
Industry Practice
The renovation industry primarily goes by a progressive payment structure
Tranche 1
Tranche 2
Tranche 3
Tranche 4
20%
30%
30%
20%
Excel Hardware and HomePay: A Synergistic Fintech Partnership
In a significant move to propel innovation in the financial technology sector, Excel Hardware and HomePay recently formalised their collaboration through a Memorandum of Understanding (MOU) signed in Singapore this November. Attended by industry luminaries, including Mr. David Ng, CEO of HomePay, and Mr. Kevin Choa, Founder and Chairman of Excel, the event was further elevated by the presence of Singaporean influencer Ryan Tan and other key insiders.
Excel Hardware's distinguished reputation for delivering high-quality hardware accessories, with a focus on safety and sustainability, aligns seamlessly with HomePay's commitment to addressing the pervasive issues of fraud and unpaid IDs in the fintech landscape. HomePay's custodian platform offers a comprehensive solution, ensuring fair compensation for services rendered. The MOU signing symbolises more than a contractual agreement; it marks a shared vision for collective industry growth, innovation, and positive change.
This strategic partnership leverages the strengths of both entities. Excel's expertise in premium hardware, combined with HomePay's fintech prowess, creates a dynamic alliance capable of redefining industry standards. As technology continues to reshape the landscape, this collaboration strategically positions Excel and HomePay at the forefront of positive transformation. The joint efforts of these industry leaders are poised not only to resonate within the sector but also to resonate positively with consumers prioritising safety, reliability, and innovation. The MOU signing event represents a powerful testament to the potential of collaboration, setting the stage for significant growth and positive change in the hardware and fintech domains.
Before HomePay
1
Homeowners Scammed
Renovation complaints & nightmare stories appear on our news feeds almost every day, with homeowners bearing the brunt.
2
Renovations Complaints
CASE received a 1,454 reported renovation complaints, relating to delayed projects & poor workmanship. Leaving homeowners ghosted and distraught.
3
Homeowners defaulting payments
Because of cases like these, homeowners safeguard their interests through the prudent step of causing innocent ID firms to face the consequences of the black sheeps’ in this industry
Designed for Homeowners
Manage renovation process on-the-go, remotely, whenever they need to.
Homeowners’ funds are protected as payments are held in escrow by DBS.
Peace of mind to ensure all work are being delivered before payment are disbursed out.
Made for Interior Designers
Paid on time for all progressive payment milestones
Handle transactions securely and hasslefree through the app.
First adopter of going digital with all company payments
After HomePay
Ease of Use
75%
75% will use HomePay to handle all their ID transactions for ease
Security
91%
91% said they’re more likely to engage an ID with HomePay
Trust
93%
93% would find an escrow app beneficial to their renovation
Designed for Homeowners
- Manage renovation process on-the-go, remotely, whenever they need to.
- Homeowners’ funds are protected as payments are held in escrow by DBS.
- Peace of mind to ensure all work are being delivered before payment are disbursed out.
Made for Interior Designers
- Paid on time for all progressive payment milestones
- Handle transactions securely and hasslefree through the app.
- First adopter of going digital with all company payments
Designed For Homeowners
- Manage renovation process on-the-go, remotely, whenever they need to.
- Homeowners’ funds are protected as payments are held in escrow by DBS.
- Peace of mind to ensure all work are being delivered before payment are disbursed out.
Made For Interior Designers
- Paid on time for all progressive payment milestones
- Handle transactions securely and hasslefree through the app.
- First adopter of going digital with all company payments
Introducing HomeProtect
Never be left in the lurch again. Our platform ensures that your renovation gets completed according to plan even in the event of a sudden cessation of your engaged ID’s firm.
HomeProtect will find a replacement vendor to complete works at no cost
How this Works!
Step 1: Getting Started
- Homeowners and IDs successfully registers on HomePay mobile app
- Homeowners then awards their project to an ID
Step 2: Getting Connected
- IDs create project by uploading project details & progressive payment milestones for homeowners’ approval.
- Homeowners review and signs the official agreement which was uploaded onto the app
Step 3: Get Renovating
- Homeowners tops up their wallet to make their first payment, which is held in escrow by a DBS custodian account.
- IDs can begin renovation works!
- Homeowners will be able to leave feedbacks, approve or deny completed works - all made easy for you on HomePay
Our Pricing
We Have Competitive Pricing
HomePay’s digital wallet is free to use. If users choose to pay using credit
cards, they are charged at a low rate of 2% only.
Similarly to a BNPL business model, homeowners’ funds are held safely in escrow, and only released after they have approved completed works. However, HomePay’s fees are very competitive in comparison.
- Other BNPL: Starting fees start at 5-7%
- Credit Card: Charges & fees goes up to 3-4%
Homeowners
- We charge a one-time admin fee of $200 to homeowners upon registration
- Launch Special: IDs will be providing homeowners with promocodes to waive off the admin fee entirely
Interior Designers
- Transaction fees begin at 1.9% for ID firms. This is further lowered to 1.5% after hitting certain milestones.
To Learn More About HomePay
Visit WebsiteTiktok
Scan QR to download HomePay App now!
