Local Digital Currency

 Partner Opportunities


Paymency Local Digital Currency (LDC) operating system was designed for the low income, unbanked and small merchants before COVID-19 shut down the economy. We have pivoted to expand our touchless, text based LDC to be used as an economic stimulus tool to unify community members. Low cost LDC, led by the city or other local leadership, will unify the community, and accelerate the recovery. The design will make the reality of unbanked and underbanked a distant memory.

The US government and most of the world took unprecedented action in shutting down the economy in response to COVID-19. One good thing came out of it, and that is a new digital aptitude from video conferencing to greater use of online sales and Gig Workers delivery. However, the adoption was forced and not a natural occurrence as we have experienced since 1994 when Amazon opened. This will cause a disequilibrium in local markets.

We believe that restarting the local economy will be a bigger challenge than most believe. Many businesses are failing, and many employees will not be rehired. We will divert our business plan to focus on helping cities and Tribal communities rebuild their economy. Paymency believes that the local economy, and small business, plus the employees hired are critical in rebuilding the local economy. It is the local economies that make up the county, state, and US economy.

Paymency will provide the technology and training to put the local community into position to get involved and become a cheerleader in supporting local sales growth. Covid19 has led to many firsts, and we want to give local governments a new way to create excitement and stimulate the economy to accelerate the local recovery from the shutdown. As a start, we recommend that each community have a contest to name the new local digital currency. Let resident propose names and vote to pick the winner.  "Beach Bucks" is a name I would submit to vote, we demo using GroovyPay.

This unanticipated event accelerated digital adoption and increased the digital divide between rich and poor, banked, and unbanked. Paymency working with cities, community leaders and local banks will reverse the trend and erases the gap for banking and retail sales. LDC will also help small local retailers digitize their sales at a very low cost.

For small merchants we provide the ability to accept digital; payments at an estimated average low cost of about $.12 and for some small merchants we provide the ability to accept digital payments at a very low fee and for others we save as much as 5% of gross sales.

Cities or other local groups will open accounts and holds funds in a bank. Banks will receive the deposits from the city as one account. All merchants will open a new type of commercial account at the cities bank.

Paymency, Local Digital Currency (LDC) is a local stable value currency tied to the US dollar but issued at a discount of 5% to 10% or more as defined by the local community but paid for by the merchants in their sales.

Sample Paper Local Currency:



1st Product Local Digital Currency (LDC)


1 - Cities - Stimulate The Local Economy And Bank The Unbanked and small Businesses

  • Offer local digital currency using Paymency technology
  • Inclusive for business and consumers
  • Increase city sales and city tax revenue
  • Build in loyalty rewards to increase sales to help merchants and the public
  • No cost to participate - Use existing staff
  • SaaS use any Internet enabled devise
  • Open mobile payment and or, alternative bank account for community members especially the unbanked
  • Less than 5 minutes to open consumer account
  • Consumer only needs a text enabled phone
  • Stimulate local economy with special city wide specials
  • Bank the unbanked with the text based mobile payment product
  • Help underbanked with additional banking products that are available on the Paymency Marketplace Platform
  • Hold consumer deposits safely at a local bank
  • Designate additional locations for consumer deposits i.e.: libraries
  • Allow bank and credit unions to open city accounts for their customers

    2 - Native American Communities and or  Casinos - Self Reliance Banking and Payments

  • All city programs, and more, are available to Native American Tribes
  • Add excitement in the use of your local currency
  • Enroll any person and business on or off native land
  • Open mobile payment and or alternative bank account for Tribal and non-tribal members, including the unbanked
  • .
  • Offer local digital currency using Paymency technology
  • No cost to participate - only cost is merchant paid transaction fee est. $0.12 per trans.
  • SaaS use any Internet enabled devise
  • Consumer only needs a text enabled phone
  • Stimulate local economy with a local digital currency
  • Help with additional banking products that are available on the Paymency Marketplace Platform - a source for loans and other financial and bank products
  • Hold consumer deposits at a local bank, Credit Union, Broker, or Casino
  • Designate additional locations for consumer deposits
  • Indian Casinos are in a unique position to function without a bank
  • Allow bank and credit unions to open Tribal accounts for their customers

    3 - Counties - Stimulate A Larger Local Economy

  • Same as city but a bigger opportunity
  • Greater local stimulus
  • Paymency designs and creates the network
  • The county will recruit and enroll cities
  • Click on the $5 Berkshare note above and learn more about Berkshire County Massachusetts and 400 merchants

    4 - Local  Bank Or Credit Union for city or County - Hold Non-Interest Deposits

  • The city or county will select one bank to hold the deposits for the city - One large account - Paymency provides reporting and manages the operating system
  • The bank will be part of the Paymency clearing network
  • Bank the unbanked with the mobile payment product - LDC

    5 - All Banks and Credit Unions That Are Not The City Depository Can Support The Local Currency Program

  • Open LDC account for bank customers so they can participate in the city program and receive loyalty discounts and rewards
  • Accept deposits for bank customers that have a city LDC mobile payment account
  • Banks help their local retail customers join the city LDC program as participating merchants