CITIES, And TRIBAL COMMUNITIES, STIMULATE THE LOCAL ECONOMY, REDUCE CRIME, Issue A FORM OF ID, AND BANK THE UNBANKED AND LOW INCOME

 

TO SUPPORT THE LEAST SERVED CONSUMERS AND MERCHANTS, Paymency SMS PAYMENTS ARE DESIGNED SIMILAR TO PAYMENT BANKS IN INDIA

 

Cities Have Growing Problems

About 35% of Americans are classified as underbanked by the Federal Reserve. The Unbanked make up about 15 million people. The growing homeless population is a new strain on city resources. This population needs help in safely holding and spending money.

 

GREAT PRICING

Paymency text-based Mobile Payment Network is powered by the Paymency SaaS and cloud-based payment network. Paymency may be a consumer and merchants first non-cash payment experience. Low income consumers are currently spending about 10% of income on alternative banking. We are working to drive that cost down toward zero. Merchants that accepted cards will save between 50% to 90% with Paymency.

 

all Merchants and Consumers qualify to Open an account

It is important that we serve everyone. To accomplish this we use a text based digital currency in some locations. We prefer city sponsorship similar to what was done in Oakland CA. However, if a city or non-profit doesn't sponsor with Paymency, individual merchants can use our system to operate like Starbucks single merchant system.

We do not require a bank account or ID to open a new account. Once we open the city sponsor master account, it takes less than ten minutes for a merchant to open and start using a new account and less than 5 minutes for a consumer to open and start using an account. This is a great account for the unbanked and is easy for everyone to use.

AUTOMATIC CONFIRMATION AND RECEIPT Generated

Don’t want to print a receipt? No problem. We are big believers in being eco-friendly. You and your customer will receive a receipt by text and email automatically and you will have an instant confirmation of the payment for your records. Merchants don’t have to do a thing. Let Paymency do the work for you.

discounts and powerful merchant rewards

Our easy to set-up rewards program may be appropriate in some cases. The optional  merchant loyalty rewards allow the city or other sponsor to incentivize customers to return again and again. This built-in program tracks the rewards for each customer and automatically discounts purchases based on pre-set instructions controlled by the sponsor. What could be easier?


WE RECOMMEND Cities Use A Local BANK OR CREDIT UNION As Part of The Network Design - Tribal Nations May Use A Casino

Paymency provides all network technology and processing, including the needed accounting. We provide the IRS reporting information as well.

 

Help reduce Crime

Crime is a significant risk in today's cash economy. In addition, many cities are allowing merchants to restrict the use of cash and many low income consumers must resort to high cost prepaid cards.


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    Paymency Inc. All Rights Reserved
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    Since September 11, 2001, the government enacted the USA Patriot Act requiring all financial institutions to obtain enough information to identify customers.
    Paymency recognizes the need to adapt the USA Patriot Act, AML, BSA and all Currency Transaction Reporting to our model.
    This may include obtaining information such as name, address, date of birth, Tax ID and any additional information that will allow us to identify you. Paymency will block money laundering through design.


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