consumer banking And

 merchant payments

like never before 

Fast Company reports that 1 out of 3 Millennial don't see a traditional bank in their future. Paymency believes that is grossly underestimated. Our CEO Gary Lewis Evans has been on this path for years. Paymency will turn selected retailers, cities and others into a consumer bank and alternative mobile based checking account for merchant payments. This is a big project and Evans third and last banking transformational change. In 2014,The Motley Fool (Motley Fool Link) claimed that Evans revolutionized banking in 1994, when he pioneered Internet banking as President of La Jolla Bank.

Consumer banking and merchant payments operate under the protection of regulation that blocks competition and protects the high fees charged to merchants and lower income consumers. This protection is not cheap, banks and card companies are safe for now, but they are being handcuffed by regulations and the cost of compliance.

The evidence is clear. US Banking and payments dangerously lags in maximizing the value of FinTech. The 1994 launch of Amazon and La Jolla Bank on the Internet is a good example. Consumer banking was already digital. No one at that time would have predicted that the retail industry would outperform banking on the Internet. How could everyone be so wrong when the only difference was the regulation? 

Our opportunity is to provide safe banking and payment products minimize regulation, remove the middleman and become the low cost provider.

Paymency is designed to be outside of all traditional regulatory and network constraints. Paymency is changing the fundamentals of consumer banking, merchant payments and distribution of consumer financial products and services. A better way for consumers to hold, spend and manage their money.

Paymency is disrupting consumer banking, existing payment networks like Visa and merchant payments. Paymency helps all consumers and merchants with a better and lower cost payment alternative, helps many banks with demand deposits and is a new distribution channel for all  bank product sales 

Paymency is more than a product, it is a new banking and payment ecosystem being built outside of a bank charter. Paymency has developed a platform strategy that uses US free banking techniques from the 1850s and successful techniques from China and India for todays App based economy. Paymency is a big project and overwhelming for most potential investors. CEO Evans learned that when innovating, and specifically  building Bank of Internet (New Name AXOS Bank) anything can be done incrementally.

Evans two prior transformational industry leading changes demonstrates his ability to innovate, design and build the needed technology and assemble the team to succeed.

 

Anything Can Be done incrementally

  • A new cloud-based payment network – First since Discover Card in 1985
  • A new clearing house – First since ACH in 1974
  • Text (SMS) digital dollars for the unbanked - Similar to SMS payments in India
  • Merchant payment apps – like payment apps in China that serve over 2 Billion people
  • Selected merchants earn transaction fees and hold customer funds  like a bank
  • Inclusive for all consumers and merchants - Unbanked to Gen Z
  • Consumers are always free - this includes the unbanked
  • Consumers will benefit from merchant rewards that are better than card rewards
  • Cost are low enough to support micro payments i.e.: online images or short stories
  • A marketplace platform (like Amazon) for finance and banking - Includes low income consumer data aggregation to help them qualify for saving accounts and loans

Merchants, will see Paymency as an easy SaaS or API addition to their existing app or POS. The reward will be savings of 50% to 90% of current card fees by using our new merchant payment app network. Large merchants have an opportunity to issue payment apps as a sponsor merchant and hold consumer funds allowing their payment app to be used at all merchants.  Sponsor Merchants will also earn transaction fees when their app is used at unrelated merchants.

 

We strategically Target

 cash and THE UNBANKED

 as our first Step

 

1first product is text-based (SMS) payments.

Built for the unbanked, and can be used for mass distribution with cities, and Native American  tribes.

No Problem
2

OUR SMS UNBANKED PAYMENTS WITH CITY DISTRIBUTION IS OUR BANKING Like PRODUCT THAT can ALSO SERVE AS a Local ID

ALL MERCHANTS QUALIFY AND PAY VARIABLE LOW FEES FROM A FEW PENNIES FOR A $1 SALE OR $0.24 FOR A $100 SALE

NO ID OR BANK ACCOUNT IS REQUIRED For Consumer

custom payment designs for cities, religious groups and nonprofits


3

MERCHANTS OPEN ACCOUNTS IN LESS THAN 10 MINUTES AND CAN START TAKING PAYMENTS IMMEDIATELY - CONSUMERS OPEN ACCOUNTS faster



4

customer receives SMS for payment Receipt and new balance

 

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