Pay-Ease has developed a “smart kiosk” which is capable of providing ATM, bill payment functions, real time distribution of gift cards, identification cards and pre-paid credit cards. Pay-Ease is the first to combine all of these transactions into one kiosk allowing customers to choose which services to utilize, eliminating the need to travel around town to accomplish these tasks. Such customer convenience is revolutionary in the marketplace.
In addition to providing these unique services to walk-in customers, Pay-Ease is able to capture an often overlooked group in our society. It is reported that twenty percent (20%) of the total population in the United States is considered to be “unbanked” or “underbanked,” which implies that these individuals may not have checking accounts or credit cards. These citizens typically live paycheck to paycheck and transact their business in cash or pay their bills using money orders. It is to this extraordinary number of people that Pay-Ease provides a unique alternative.
While these persons will typically travel to individual payment locations on a monthly basis to pay personal bills such as telephone, cable, water and electric, we offer one centralized location where these bills can be paid. At the current rate of growth, more than $80 billion in walk-in payments will be processed by 2009. This is a phenomenal number of transactions that could be made at a convenient Pay-Ease ACM.
For the recipients of these payments (the cable company, phone company, etc.), we considerably reduce the number of cashiers needed in their individual payment centers. Further, utilizing the Pay-Ease ACM reduces the risk of human error. The ACM utilizes the barcode on the bill when available or requires that the payer input this information. Cash, check or credit/debit card payments are accepted at the kiosk and will be automatically credited to the recipient’s account.
The Pay-Ease ACM focuses on reducing processing costs, as well as the costs associated with bill payments and increasing convenience for the consumer. No longer will the consumer have to travel all over town to pay bills, now there will be only one convenient stop.
By combining all of the necessary aspects (i.e. hardware, software, installation, service, security, maintenance, repair, collection and accounting) into one complete package, Pay-Ease’s turn-key solution reduces costs and generates a new revenue stream for utility companies, municipalities, retailers, colleges and/or universities, while promoting customer convenience and loyalty.