Startup Idea: Phone Number Based Payment System

Startup idea to build a payment system similar to Apple Pay that only requires a phone number. Features would include the ability to add multiple payment methods, no internet requirement, a security challenge, possible Twilio integration, and merchant benefits like caller ID recognition and customer tracking. Ideal for situations where more advanced systems are not available or might have been lost, and integrating an underserved unique user ID model.

There should be a payment system that is like Apple Pay but only requires a phone number to use.

If you, or your kid, lost everything and were stranded somewhere you would stll be able to pay for things simply by knowing your phone number.

Just like Apple Pay, you would be able to add various payment methods to your phone number such as credit cards, PayPal etc. You could manage these payment methods on the web.

Using this payment network any merchant would be able to sell stuff simply by having a phone. No internet, computer or smartphone required.

All you would need to know is your phone number and be able to answer a rotating question via the keypad. For example, enter number 2 & 5 or your 8 digit pin.

You would be able to call a restaurant and pay for pizza without having to give out your CC details. The restaurant would not need to install any special equipment or apps, they would just need a phone.

Calls on the system could be routed via Twillio (or similar service) and at the approporate time the system could capture your phone number and security challenge.

Alternatively merchant's could take incoming calls using a smart phone that automatically recognized your caller id as being part of the payment network. They would instantly know who you were and be able to track previous purchases that you had made with them etc.

Phone numbers are a pretty great type of unique user ID that could be used more effectively.