A decade ago, consumers viewed online payment with trepidation, but with the passage of time, a larger section has come to view it as a ‘must have convenience’ and actually feel quite lost without it.
This growing trend is now being exploited by companies like SelectCore Ltd, who financially empower millions of underbanked consumers.
Since its inception in 1999, SelectCore Ltd. has been continuously evolving its range of products and services, and online bill payment is the latest in its lineup of innovative prepaid banking tools that range from e-mail and text message balance alerts, mobile applications, card-to-card money share, Interac, online top-up, and more.
As SelectCore continues to broaden its product development initiatives, this service, which reportedly supports online payments to thousands of payees across a range of industry sectors, will encompass mobile banking and peer-to-peer payments.
SelectCore has been ranked among Canada's fastest growing companies by Profit Magazine four times in the past six years, and was included in the 2011 Deloitte (News - Alert) Technology Fast 500 list of North America's fastest-growing technology company.
This new service is designed to allow consumers to pay their bills quickly and easily with their prepaid stored-value card account, any time they want from anywhere, online. The platform also keeps a record of all payments processed so cardholders can track and have more control over their spending.
Further, it also comes as a great relief to consumers that don’t have access to traditional banking. They will now have a financial tool that enables them to make online bill payments without waiting in long queues at check cashing centers to get the money and then mail the payments.
Consumers save precious commodities of time and money in the process.
"Millions of underbanked consumers are not afforded the same financial tools that the majority of the population enjoys," said Keith McKenzie, CEO at SelectCore. "We are dedicated to delivering new, innovative solutions that provide financial empowerment to an important demographic market."
Given that in 2013 alone, 30.3 billion online bill payments are expected to be made globally, SelectCore’s new online payment service will be a boon.
A prepaid telecom and financial services provider, SelectCore Ltd. executed an agreement with 360incentives.com, an incentives platform that has launched SelectCore's private-branded prepaid MasterCard card programs for various brands and clients of the website.
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Edited by Braden Becker