Prepaid debit card

Unlike with credit card or bank accounts, credit for the Paytoo debit card is not available. The card can only be used with the funds that are available on the card.

From your local gas station, ATM to ATMs all over the world, the card can be used at many locations providing debit card payment via a point of sale (POS) devices available. This is applicable to any POS system matching the network brands associated on the card. Paytoo cards are also known as prepaid debit cards. The cardholder controls the available balance by depositing money onto the card. This eliminates expensive interest charges and the need for a personal checking account. Paytoo cards can also be a solution for employee payroll systems. Instead of writing checks and having to balance business accounts against paper records, using the card as a payroll method will save time and money. Using the online web interface, the payroll process can be a simple way to eliminate paperwork and allow employees to have automatic access to funds.

Barcode payment solution

The idea of utilizing your mobile phone as a means of making payments has been around nearly as long as the mobile phone, but until now they were just that: ideas. The concept and benefits of payment via the mobile phone is wildly popular with consumers, retailers, card issuers and processors alike. Over the last five years, the hype regarding utilization of mobile payment programs around the world has created an unprecedented appetite for these services but with a slow market penetration.
The reason behind is those merchants often do not have the technology required and/or the solution to install new, expensive hardware at the point of sale. Understanding these barriers, Paytoo has developed a mobile payment product, which is deployed with technology, and operations that are in place today.

The Paytoo payment application leverages our secure mobile barcode technology that is transmitted and optimized in real time to a user’s mobile device.  This barcode is a standard 1D code symbology that is widely utilized by retailer POS systems and can be scanned using many of the barcode scanners available and installed in the retail marketplace today.  The mobile barcode represents the prepaid debit card attached to the mobile wallet. It is scanned directly off the consumer’s mobile device to initiate the transaction, which is transmitted and settled through the existing payment rails.

Contactless payment solution

The contactless sticker Paytoo offers end users a fast, convenient and fun way to pay. The sticker is equipped with a contactless application, allowing it to be used as a normal payment card at any point of sale terminal accepting contactless. Payments are made by placing the smart sticker a few inches away from the contactless reader. According to a survey done in January 2008, there is a significant consumer interest for the sticker concept. Consumers rated “ convenience” and “easy to use” as the most important benefits of the sticker, followed closely by the ability to experience a “ faster checkout”. Moreover the contactless sticker concept has wide appeal across demographic groups, without much significant difference in demand by age, gender or income. For the first time consumers will not fear to lose cash or their card and leave their wallet at home.

Benefits to Users

• Increased Security
• Low cost money transfer to family and friends
• Global access to funds
• Receive your salary on your Paytoo card without having to open a bank account
• Immediate accessibility to funds after the card has been loaded
• Minimal transaction fees