Start-up PaySwag, the first white-labeled mobile app to bring a new approach to collections for underbanked consumers, businesses and governments, is making its pitch at Money20/20’s Las Vegas inaugural StartupPitch180 competition.
PaySwag’s mobile app and platform integrate features designed to effectively resolve the real-world issues that impact both ends of the collections spectrum, through its cash or card payment, reward, education and feedback engines.
More than just a payment app, PaySwag aims to improve the financial lives of the underbanked. The mobile app features educational videos, engaging games and push-payment notifications. Additionally, the platform gives users the flexibility to create payment plans that are convenient for them and the freedom to pay by cash at more than 17,000 neighborhood locations. Most notably, customers who keep on track earn “swag” points that can be redeemed for Amazon gift cards, Redbox rentals and more.
By transforming how the underbanked interact with lenders, municipalities and other entities, PaySwag is certainly on the right trajectory. Through mobile gamification and easier access for those without bank accounts, the platform has been able to make payments more accessible, rewarding and likely.
For data, background and forecasts on PaySwag: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).