PayDirect, PayToo to provide m-wallet platform to money transmitters

Both companies view this alliance as a way to provide money transmitters with a mobile money transfer solution and other services for their customers.

PayToo is a brand of PayToo Corporation, a US organisation founded in 1999. After five years of development, PayToo launched a mobile solution to combine telecommunications and payments into one single account. This global platform is called the PayToo Mobile Wallet and is an electronic account and an alternative to a bank account in which consumers store their money and get to spend it, without the need of a bank account or prepaid debit card.

PayDirect provides a White Label payment solution for the Money Transmitting industry. PayDirect provides Money Transmitters with an enhanced payment platform to receive customer payments via direct debit, e-check, debit cards, and credit cards from a mobile phone, tablet or desktop computer.

In recent news, ATM manufacturer Genmega, financial services provider Payment Alliance International and PayToo have teamed up to bring cardless ATM access to the unbanked, including services such as money transfers and PIN access for family members that allows them to withdraw cash when needed.