Proof of Usefulness Report

KalletPay

Analysis completed on 2/3/2026

+137
Proof of Usefulness Score
Gaining Momentum

KalletPay is a verifiable fintech project with a live mobile application and business registration (Kazzylen Ltd). However, the submission is significantly marred by hyperbolic and false claims (e.g., 'most people have used my product'), an invalid contact email, and a lack of verifiable revenue data. While the app addresses a genuine need for USD virtual cards in Nigeria, the actual traction appears to be in the low thousands (<50k) rather than the claimed universal reach. The project falls into the 'Minimal Traction' category, with penalties applied for poor response quality and inflated metrics.

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Score Breakdown

Real World Utility+8.0
Audience Reach Impact+1.0
Technical Innovation+1.5
Evidence Of Traction+1.25
Market Timing Relevance+3.0
Functional Completeness+0.0
Subtotal+147.5
Usefulness Multiplierx0.93
Final Score+137

Project Details

Description
At KalletPay, we are on a mission to revolutionize the way individuals and businesses manage their finances. Founded on a commitment to providing financial convenience and security, KalletPay is an innovative mobile wallet and a payment platform that offers seamless transactions and robust security features. It enables the integration of multiple payment solutions for both individuals and businesses with just a single account. KalletPay is own by KAZZYLEN LTD. KalletPay Wallet is a pre-funded and re-loadable multi-currency wallet, that can be used for exchange, send, pay bills, create virtual & physical NGN and USD cards, buy virtual phone numbers for business use and make purchases online all over the world. The Straightforward, Easiest Way to Grow and Save Money in your Wallet. Join the countless others who use KalletPay to receive the genuine rates. Easy Registration Signing up for KalletPay is quick and easy. All you need is your email, and you'll be up and running in no time. Complete Wallet KalletPay's wallet is a comprehensive solution that can hold multiple currencies. You can easily convert currencies and make transactions in the currency of your choice. Plus, with the Dollar and Naira Card feature, you can make online purchases using a virtual and physical card that can be topped up with any currency. API Payment Integrations If you're a merchant or business owner, KalletPay's API Payment Integration is a game-changer. This feature allows you to accept payments through KalletPay directly on your website, ecommerce store or app, making it easy for your customers to complete transactions without ever leaving your platform. Multicurrency Wallets KalletPay's Multicurrency wallets allow you to hold and manage multiple currencies in one place. This feature is particularly useful for online shoppers who frequently purchase from international internet retailers, as it makes it easy to manage finances across different countries & currencies.

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline