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™.
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 the need of a bank account or prepaid debit card.
Why PAYTOO Mobile Wallet™?
According to the Federal Deposit Insurance Corporation (FDIC), nearly one-third of the US population—106 million people— and 2.5 billion people of the world’s population are either under or unbanked. That means, they don’t have bank accounts and make non-bank financial transactions regularly, but they have mobile phones. They need to put their money in a safe place, to pay bills and expenses, to shop at the grocery store and send money or airtime to family and loved ones. The PAYTOO Mobile Wallet™ is the perfect solution.
Is PAYTOO a traditional Mobile Wallet?
No, it’s not. PAYTOO Mobile Wallet™ is more than just another payment method to pay a merchant, or a mobile application to store credit cards on a mobile device.
When most of the competitors are focused on providing a way to pay merchants using what is already available for the consumer, like credit cards or loyalty cards, PAYTOO Mobile Wallet™ is focused on his first and immediate need, which is to save money and manage a budget.
PAYTOO Mobile Wallet™ answers the needs of millions of people to get access to their money. It provides the most complete suite of services to perfectly suit the needs of the unbanked population.