Moreta

What do they actually do

Moreta is a mobile app that lets international travelers pay local merchants in Asia by scanning the same merchant QR codes locals use. Travelers load funds from their bank or card, see the FX rate, and Moreta settles the merchant on local QR rails so the shop is paid like any local wallet transaction Moreta site — how it works. The company lists coverage across multiple APAC markets and publicly says it launched first in Thailand with other Southeast Asian countries rolling out next Supported countries; Founder AMA.

Today, users can link a bank via Plaid or top up by bank transfer, card, or Apple/Google Pay, then scan a merchant’s business QR in the app to pay; Moreta handles KYC, shows rates, and completes the local payout How it works. The team highlights use of Plaid and ML-based KYC (AiPrise), ongoing fraud monitoring, and FinCEN/MSB registration as part of its compliance posture Security & compliance. Current limitations noted by the founders include lack of personal (P2P) QR support used by many small vendors, US-focused bank linking (non‑US users often use a Wise USD account as a workaround), and withdrawals that have been manual but are being automated; they have also run no‑fee and cashback promos to drive adoption Founder AMA.

Next, Moreta aims to expand country coverage, add faster onboarding and more funding rails (UK/EU bank linking, international cards), support personal QR payments, and automate operations like withdrawals. The team has also published a plan to speed cross‑border settlement using embedded wallets and stablecoin rails (Privy + Coinflow) so merchant payouts can clear in near real time without exposing users to crypto complexity Privy case study.

Who are their target customer(s)

• Short‑term tourists paying shops and restaurants: They lack local wallets and face poor FX or extra card fees; many merchants only take local QR payments so they can’t pay at point of sale without cash Moreta — how it works.
• Budget/backpacker travelers buying from small vendors: Street stalls often use personal (P2P) QR codes that Moreta doesn’t support yet, so these travelers still need cash for everyday purchases Founder AMA.
• Long‑term travelers and digital nomads moving across Asian markets: They want fast, low‑cost cross‑border spending but face slow/expensive top‑ups, manual withdrawals, and uneven acceptance across countries Privy case study.
• Travelers without US bank accounts (e.g., UK/EU users): Current flows favor US bank linking; non‑US users need workarounds to fund the app instantly and start spending Founder AMA; How it works.
• Small local merchants and market vendors: They want tourist payments that settle on local rails without handling foreign cards or cash; local QR settlement removes reconciliation overhead and fee surprises How it works.

How would they acquire their first 10, 50, and 100 customers

• First 10: Use founders’ networks and on‑the‑street testing in tourist hotspots to handhold installs, KYC, and first payments using business‑QR flows; sweeten with no‑fee and cashback promos to remove friction Founder AMA.
• First 50: Do concentrated neighborhood rollouts via friendly hostels, cafés, and tour desks with signage (“Tourists can pay with Moreta”), plus targeted posts in travel groups to drive installs and real transaction volume.
• First 100: Expand through airport/hostel/tour operator partnerships and pop‑up kiosks at arrivals; layer a referral + small cashback funnel and pilot faster settlement rails with acquiring partners to boost merchant acceptance Privy case study.

What is the rough total addressable market

Top-down context:

Inbound tourism in Southeast and East Asia is large, and QR payments are widely used by local merchants, with many small vendors preferring QR over cards. This creates an acceptance gap for visitors that a QR-bridging wallet can address Moreta — how it works.

Bottom-up calculation:

Focus on inbound travelers to initial target markets (e.g., Thailand, Vietnam, Philippines, Cambodia, Indonesia, Malaysia, Singapore, Japan, South Korea, Mongolia). If 25 million travelers annually face QR‑only situations and each has $300 of spend that benefits from local‑QR acceptance, the addressable payment volume is roughly $7.5B per year.

Assumptions:

• Eligible travelers across target markets ≈ 25M/year who would benefit from local‑QR acceptance.
• Average QR‑eligible spend per traveler ≈ $300/trip (food, retail, transport where QR is common).
• TAM expressed as gross payment volume; revenue depends on pricing and take rate, which are not yet fixed.

Who are some of their notable competitors

• Alipay / Alipay+: A large cross‑border QR network already connecting partner wallets and merchants across Asia; many tourists from China and nearby markets can pay by QR without a new app Alipay+ growth.
• Local e‑wallets and super‑apps (e.g., GrabPay, GCash, TrueMoney, PromptPay‑linked bank apps): These control the local QR systems Moreta routes to; visitors who can access or top up these wallets may not need a separate bridge app. Many support card top‑ups or visitor flows GrabPay top‑up.
• Card networks’ QR initiatives (Visa Scan‑to‑Pay, UnionPay): Networks are rolling out QR interoperability so tourists can pay with card credentials via QR, reducing the need for a tourist‑specific wallet in some markets Visa Scan to Pay APAC.
• Revolut: A popular multi‑currency card that reduces FX costs for travelers; it doesn’t solve QR‑only merchant acceptance directly but is an easy alternative for many tourists.
• Wise: Multi‑currency accounts and cards with competitive FX; like Revolut, it addresses travel FX pain but not local QR acceptance, making it an indirect alternative.