Nebil Ben Aissa
Ben Aissa (Benji) is the Founder and CEO of Nexxo Ventures, a Silicon Valley-based VC Studio specializing in investing and accelerating Fintechs and digital banks in high-growth emerging markets such as India, Asia, the Middle East, and Africa. With over 20 years of experience, he's established a track record of starting, growing, and accelerating companies in Fintech, Digital Banking, Blockchain, and Cryptocurrency.
Contents
- 1 Early Life and Athletic Achievements
- 2 Education
- 3 Early Career and Patents
- 4 Innovations in E-commerce and Social Networking
- 5 Biometrics and Work Management
- 6 Other Innovations
- 7 Patent Details
- 8 Entrepreneurial Ventures
- 9 Global Impact and Ventures
- 10 QPAY Success Story: Empowering Middle Eastern SMEs
- 11 Indipaisa: Empowering Indian SMEs
- 12 VietPAY: Empowering Vietnamese SMEs
- 13 Awards, Innovations, and Legacy
- 14 References
Early Life and Athletic Achievements
Ben Aissa was born in Tunisia in the 1970s and showed an early interest in mathematics, science, and technology. At the age of nine, he became a member of the Tunisian National Swim Team, demonstrating his commitment to excellence. His amazing swimming ability garnered him great attention, as seen by his accomplishments such as setting records while competing for the University of Wisconsin as a collegiate swimmer in the United States. In addition, he set other records covering 54 nations in the Mediterranean and the whole African continent.
Education
Ben Aissa holds an MBA from the J.L. Kellogg School of Business, dual master's degrees in Electrical and Computer Engineering from the University of Wisconsin-Madison, and a bachelor's degree in Electrical Engineering from the same institution. He's proficient in Six languages. Arabic, Italian, German, Japanese, English and French.
Early Career and Patents
Ben Aissa began his professional journey at Johnson Controls, a prominent engineering firm in the United States. During his tenure of over five years, he contributed to various innovative projects and secured several patents in different domains, including digital signal processing and HVAC control systems.
After Johnson Controls, Mr. Ben Aissa continued his innovative spirit by filing further patents in the fields of payments, biometrics, and social networking.
Innovations in E-commerce and Social Networking
Nebil Ben Aissa's most notable contributions lie in the realm of e-commerce and social networking. He is credited with inventing a ground-breaking system that revolutionized online commerce. This system, known as the "Social Network Driven Real-Time Multi-Player, Multi-Merchant, Multi-Bucket Discounting Social Commerce System With Value Tracking," allows buyers to receive discounts from merchants within a social network-driven e-commerce platform. Deals, including loyalty-based discounts, prepaid discounts, and coupon discounts, can be initiated by buyers and, upon acceptance by merchants, made available to all members.
Several patents have been awarded for his innovative e-commerce systems, facilitating real-time discount processing, multi-merchant interactions, and value tracking. His contribution in this sector can be seen in this link - [[1]]. These inventions have significantly influenced online shopping and have been implemented across various e-commerce platforms.
Biometrics and Work Management
In addition to his e-commerce innovations, Nebil Ben Aissa has made substantial contributions to biometrics and work management systems. His invention, the "Biometric Multi-Purpose Terminal, Payroll, and Work Management System," revolutionized time and attendance tracking. Employees can use this system for check-in and checkout, receive work instructions, review payroll details, execute financial transactions, and more, all authenticated through a bank card encoded with a unique account number and a personal identification number (PIN). His contribution in this sector can be seen in this link - [[2]]
Other Innovations
Nebil Ben Aissa's inventive spirit has led to patents in various fields. His contributions include the development of filtering systems for digital signals, feedback controllers for maintaining process variables, and control systems for heating, ventilation, and air conditioning (HVAC) systems. These inventions have found applications across industries, enhancing efficiency and precision.
Patent Details
Apparatus and method for filtering a digital signal (Patent Number: 6122605) Feedback controller (Patent Number: 5867384) Variable air volume HVAC system controller and method (Patent Number: 5769314) Dual duct control system (Patent Number: 5558274)
His entire contribution in various sectors can be seen in the following link -[[3]]
Entrepreneurial Ventures
Mr. Ben Aissa commenced his entrepreneurship career in 1997 by starting an information technology company called 1Internet which specialized in developing Internet banking solutions targeting US-based banks that needed to offer online banking to their customers. He exited 1internet in 2001 to CDI Consulting, a Chicago-based software company offering IT and ERP systems to banks and large enterprises.
In 2002, Mr. Ben Aissa founded American EPS (Electronic Payment Systems), later rebranded as EPAY Systems. This venture introduced digital banking solutions targeting low-wage employees, immigrants, and under-banked workers. EPAY Systems offers an integrated solution that covers the full end-to-end HR, time tracking, and salary payment process of minimum wage workers in the janitorial, security, restaurant, and hospitality industries. EPAY systems automated the HRMS process for employers while providing employees with a digital banking platform, including a salary card, helping them manage their finances. In 2020, EPAY Systems was later sold to Prism HR [[4]]
In 2014, Mr. Ben Aissa founded QPAY International LLC; a Fintech focused on offering Digital Banking services to under-banked small businesses in Qatar and the Middle East. QPAY was later exited to Qatar Islamic Bank.
Global Impact and Ventures
After his success in the Middle East, in 2022, Mr. Ben Aissa returned to the US establishing Nexxo Ventures, a Silicon Valley-based Venture Studio focusing on investing, growing, and accelerating Fintechs and Digital banks in high-growth emerging markets such as India, Asia Pacific, the Middle East and Africa.
Under Mr. Ben Aissa's guidance, Nexxo Ventures has established itself as a notable player in the fintech industry with a focus on investing in innovative start-ups that align with Mr. Ben Aissa’s mission to empower small business owners and entrepreneurs worldwide and help them take control of their financial destiny.
With a deep understanding of market dynamics and a keen eye for disruptive technologies, Nexxo Ventures is committed to supporting the growth and development of companies that promote financial inclusion and drive change in Digital banking in under-banked emerging markets.
His leadership and mentorship contributed to the growth of promising fintech companies, including Indipaisa (India), VietPay (Vietnam), XSilver (Lithuania, Eurozone), and Nexxo Asia Pacific (Singapore).
The investment portfolio of Nexxo Ventures spans various fintech sectors, including digital payments, digital banking, blockchain, lending, and insurance. Nexxo Ventures is also exploring opportunities to further expand its presence in the Asia Pacific markets such as Thailand, Philippines, Malaysia, Philippines; as well as the Middle East and Africa.
QPAY Success Story: Empowering Middle Eastern SMEs
Nexxo Ventures achieved tremendous success with Qpay, a Fintech company offering Digital Banking services to under-banked small businesses and their employees in Qatar and the Middle East. By 2021 QPAY became the largest Fintech in Qatar and the third largest Fintech in the whole Middle East. QPAY services included digital payment acceptance via e-commerce, Point of Sale (POS), and electronic billing (e-billing), as well as digital banking and mobile payment services to both small businesses and their employees. In 2022, QPAY was acquired by Qatar Islamic Bank.
Indipaisa: Empowering Indian SMEs
Indipaisa, also a Nexxo Ventures investment, is an Indian Fintech that focuses on servicing and empowering Indian small business owners and operators. Indipaisa offers a wide set of digital payments, neo-banking, lending, and insurance services targeting India’s 63 Million small and micro businesses employing more than 310 Million workers.
VietPAY: Empowering Vietnamese SMEs
VietPay, an investment by Nexxo Ventures, stands out as a leading Vietnamese Fintech company with a dedicated focus on serving and empowering small business owners and operators in Vietnam. The comprehensive suite of services provided by VietPay encompasses digital payments, digital banking, lending, and insurance. This innovative platform strategically targets the expansive market of Vietnam's 5.1 million small and micro businesses, employing over 23 million workers. Through its cutting-edge solutions, VietPay plays a crucial role in facilitating financial inclusion and fostering growth within the dynamic landscape of Vietnamese entrepreneurship.
Awards, Innovations, and Legacy
Nebil Ben Aissa's inventive spirit is reflected in the patents he secured, demonstrating his contributions to technology and finance. His achievements have been recognized through various awards, highlighting his impact on various sectors.
His major achievements are listed below:
- African Champion and record holder 400 Individual Medley: [Video]
At the 1990 Swimming Championships, Nebil Ben Aissa clinched the Gold Medal and set a new African record of 4:45:50 in the 400 Individual Medley event, solidifying his status as an African Champion and record-holder
- In 2013 - QPAY WINS #1 TECHNOLOGY COMPANY IN QATAR/ARAB FORUM - [More]
Al Fikra's 2013 Qatar National Business Plan competition, in partnership with MITEF Pan Arab Region, EQ, and Silatech, celebrated winners alongside the MITEF Arab Startup Competition. Officials, chaired by Dr. Sheikh Abdullah bin Ali al-Thani, oversaw the event, graced by Sheikh Mohamed bin Abdulrahman al-Thani. Supported by QNB, ExxonMobil, and Sasol, winners received cash prizes and EQ's advisory services. QPAY, EduTechnoz, RAWE, The Zone, Looms & Knots, and Al Malaf were among the honored. Over 13,000 entrepreneurs participated, engaging in workshops and networking opportunities, driving regional entrepreneurial growth.
- In 2017 - QPAY became the number 1 company in Qatar. QPAY wins 2 titles at M-E Cards & Payments Awards [[5]]
QPAY, a leading Qatari fintech firm, provides electronic payment solutions to 10,000+ local businesses.
Recognized at the Middle East Cards and Payments Awards, QPAY serves as a key partner for banks, offering innovative solutions to SMEs and aligning with Qatar's economic vision
The titles were decided by votes from banking and payments industry peers, including senior banking executives, heads of financial technology companies, and representatives of entities such as Visa and MasterCard.
- In 2018 - QPAY International bags Qatar’s ‘Best Technology Company’ award [[6]]
- In 2018 - QIB collaborated with QPAY to launch the first Islamic PoS Solution in Qatar [[7]]
Qatar Islamic Bank (QIB) teams up with QPAY International to launch Qatar's first Islamic point-of-sale (PoS) solution.
This collaboration introduces innovative payment options, serving QIB's customers and emphasizing the bank's commitment to cutting-edge financial technology and Qatar's vision for a cashless society.
Marking a pioneering milestone, this partnership establishes QIB as the first Islamic bank in Qatar to offer cutting-edge PoS solutions, a significant stride towards revolutionizing financial services in the region.
- In 2021-2022 - Indipaisa was awarded India's Fastest-Growing Brand Starts Empowering MSMEs [[8]]
- In 2023 - PVcomBank and Vietpay enter comprehensive cooperation [[9]]
PVcomBank and Vietpay Technology, part of Nexxo Ventures, join forces to expand payment networks. This aligns with Vietnam's cashless policy, focusing on system management for cards and merchants. The collaboration aims to enhance customer service and infrastructure. Nexxo Ventures brings fintech expertise to modernize Vietnamese finance, targeting individuals and SMEs.
References
- 1. 1990 Swimming Championships - 400 Individual Medley | [Gold Medal New African record - 4:45:50](https://youtu.be/T2WJa3Q6jJE)
- 2. Social network-driven real-time Multi-Player, Multi-Merchant, Multi-Bucket Discounting Social Commerce System With Value Tracking, Multi-Layer Commission Forwarding and Discount Processing Systems and Related Methods
* Publication number: 20220277335[10] | Sep 01,2022 | Inventor: Nebil Ben Aissa * Publication number: 20170039583[11] | Feb 09,2017 | Inventor: Nebil Ben Aissa * Publication number: 20130275192[12] | Oct 17,2013 | Inventor: Nebil Ben Aissa
- 3. Real-Time Multi-Merchant Multi-Payer Multi-Bucket Open Loop Debit Card, Credit Card, or Mobile Payment Device Value Tracking and Discount Processing Systems and Related Methods
* Publication number: 20120330744[13] | Dec 27,2012 | Inventor: Nebil Ben Aissa
- 4. BIOMETRIC MULTI-PURPOSE BIOMETRIC TERMINAL, PAYROLL, AND WORK MANAGEMENT SYSTEM AND RELATED METHODS
* Publication number: 20090127328[14] | May 21,2009 | Inventor: Nebil Ben Aissa * Publication number: 20050109836[15] | May 26,2005 | Inventor: Nebil Ben-Aissa * Publication number: 20030197055[16] | Oct 23,2003 | Inventor: Nebil Ben-Aissa
- 5. Biometric multi-purpose terminal, payroll, and work management system, and related methods
* Patent number: 7229013[17]| Jun 12,2007 | Assignee: American EPS, Inc. | Inventor: Nebil Ben-Aissa * Patent number: 6764013[18]| Jul 20,2004 | Assignee: American EPS, Inc. | Inventor: Nebil Ben-Aissa
- 6. Apparatus and method for filtering a digital signal
* Patent number: 6122605[19]| Sep 19,2000 | Assignee: Johnson Controls Technology Company | Inventors: Kirk H. Drees, Nebil Ben-Aissa, John E. Seem
- 7. Feedback controller
* Patent number: 5867384[20]| Feb 02,1999 | Assignee: Johnson Services Company | Inventors: Kirk H. Drees, Nebil Ben-Aissa, John E. Seem
- 8. Variable air volume HVAC system controller and method
* Patent number: 5769314[21]| Jun 23,1998 | Assignee: Johnson Service Company | Inventors: Kirk H. Drees, M. Nebil Ben-Aissa
- 9. Dual duct control system
* Patent number: 5558274[22]| Sep 24,1996 | Assignee: Johnson Service Company | Inventors: M. Nebil Ben-Aissa, Jerry J. Doran, Howard A. Jensen, Dick Monroe
- 10. QIB collaborates with QPAY to launch the first Islamic PoS Solution in Qatar [[23]]
