An alternative to banks for unbanked population

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What is PAYTOO Mobile Wallet™?

PAYTOO CORP. has developed PAYTOO Mobile Wallet™, an electronic account and a substitute or alternative to a bank account in which consumers securely store their money and get to spend it, however and wherever they want, without access to a bank account or credit card.

Why PAYTOO Mobile Wallet™?

According to the Federal Deposit Insurance Corporation (FDIC), nearly one-third of the U.S. population—106 million people— and 2.5 billion people of the world’s population are either underbanked or unbanked. That means they don’t have bank accounts or regularly make non-bank financial transactions, but they have mobile phones.

Everybody needs to get paid even not having a bank account, to put their money in a safe place, to pay bills and expenses, to shop at the grocery store and eventually send money or airtime to family and loved ones.

Is PAYTOO a traditional Mobile Wallet?

No it’s not. PAYTOO Mobile Wallet™ is more than just a payment method to pay a merchant or a mobile application to store credit cards in a mobile device.

PAYTOO Mobile Wallet™ allows you to deposit money in different ways, using one of the more than 50,000 cash deposit locations around US, Ukash vouchers in more than 50 countries around the world, using Boleto Bancario in Brazil and other methods through different partnerships which allows the PAYTOO customer to fund their wallets.

What Can I do with my PAYTOO Mobile Wallet?

Once your account has been created and validated, a PAYTOO Mobile Wallet™ customer will be able to access to order products and use services such as

  • Bill Payment
  • Top Up
  • Sending Money
  • Order a Prepaid MasterCard
  • Access to financing
  • Shop and pay a merchant
  • Order a Virtual MasterCard to buy online
  • Buy and/or send Gift Cards
  • Withdraw money from an ATM without having or using a credit card

There is no doubt that PAYTOO is fighting against financial exclusion.

 

About PAYTOO®:
PAYTOO® is a brand of PAYTOO Corp., a US organization founded in 1999. Since 2004, PAYTOO has offered mobile phone solutions, VoIP, prepaid cards, and secured e-commerce payment transaction solutions. After five years of development, PAYTOO launched the first mobile solution to combine telecommunications and payments with one single account.  This global platform is called the PAYTOO Mobile Wallet™.

For more information, please contact:

Media Relation for PAYTOO Corp.
Deborah Accos
(954) 414-9623 deborah@paytoo.com

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