Over 63 million Americans don’t have access to a credit card or bank account. Millions more do not want to disclose their sensitive financial data online. To bridge the gap and provide cash customers with an easy, secure way to pay with cash online is eCash.
Customers select the eCash option at checkout. They send the generated barcode to a mobile phone, load it onto a wallet or print it out. Next, customers find their nearest eCash payment location by using the search app.
Customers take the barcode to the closest payment location for scanning.
After the store clerk scans the barcode, funds are directly deposited into your business account.
An eCash option at checkout will help you attract more customers, including customers who struggle with complexity, security concerns, prefer cash payments, or who have no access to online payments.
Plus, eCash promotes financial inclusion by eliminating barriers to digital financial services and providing online payments options for millions of consumers.
Since every credit and debit card, ACH, echeck, and eCash payment is made on our secure PCI DSS Level 1 EMV compliant network, your and your citizen’s confidential data is protected.
And, your agency is out of PCI DSS scope, freeing agency staff to work on other essential tasks.
The importance of financial inclusion is reflected in recent data from theFederal Reserve, which show that 22% of U.S. adults are either underbanked or unbanked. Further emphasizing the payments challenges faced by lower income demographics, the report also revealed that 43% of Americans making less than $40,000 a year were denied credit requests in 2019.
With eCash, those with lower incomes and limited access to credit will benefit from greater payments flexibility.
Questions about eCash? Or just want to see the payment suite in action? Schedule a demo on will show you ways our payment processing suite can help you grow your business.
Do you need a custom payment processing solution, want to integrate with proprietary software, or solve a unique business challenge? Reach out. We are here to help.