The Opportunity

Mobile micropayments are already a bit industry in Europe and Asia, but few companies have been successful at getting traction in the US. Part of this is due to working with the major carriers, but technology is another hurdle to overcome.

PSG was contacted by a startup company that was developing a platform for making and receiving payments using cell phones. The startup had already developed the main components of the application, but they didn’t have the ability to actually move the money from one bank account to another.

The Solution

We’ve reviewed the firm’s business plan and advised them on how our ACH web service could easily be integrated into their new service offering. The part they had figured out — sending and receiving the messages on cell phones — was only a small part of the equation.

After reviewing a number of options to tackle this issue, the firm’s development team chose us because of how simple our ACH web service is. Other providers required that they create an actual ACH file or make sense of complex API manuals — in other words, working with anyone else would be tricky, time-consuming and expensive.

PSG’s web service was simple, easy to understand, and allowed for secure development for the web service in a single day.

In addition to providing one of the key elements of the application, the PSG team was also able to help the company put procedures in place to follow NACHA Regulations and ensure compliance with both the Patriot Act and Know Your Customer guidelines.

The Results

Not every success story has a happy ending – and not all startups become overnight sensations. Unfortunately, this client never quite got their product off the ground – but we were able to solve their key problem of moving money.

Maybe YOU have a similar micropayment solution you’re working on that could use our ready-made expertise? If so – give us a call!