BioPay Paycheck Secure, a developer of biometric solutions for identifying individuals during financial transactions, has announced that it is entering partnerships with the intention of reaching out to customers who prefer to carry out financial transactions in institutions like grocery stores rather than banks. Two new product offerings aimed at these consumers are walk-in bill pay and prepaid debit.
The prepaid debit is designed to enable participating stores to serve these customers without having to keep large sums of cash available. Instead the checks are cashed and placed into a debit card account for use either at ATMs or as a standard debit card. Additionally, BioPay is touting that the card allows for their customers to save their money without having to carry around a lot of cash.
So far the biometric Paycheck Secure system has conducted $23 billion worth of transaction.