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Sr. Pago Seeks to Remove the High Fees Associated with Check Cashing Services

This post is part of our live coverage of FinovateFall 2014.

Sr. Pago debuted its card and reader solution:

“With Sr. Pago, small businesses and individuals can both accept card payment for services they render and then have that money loaded onto a card that can be used anywhere MasterCard is accepted. 
It seeks to provide a secure ecosystem for a population that has been subjected to the high fees associated with check cashing, the inconveniences of using convenience stores to perform basic banking functions, and the security risks of carrying cash for everyday transactions.”
Presenting: Pablo Gonzalez Vargas, CEO & Co-Founder
Product Launch: May 2014
Metrics: The company currently has 25 employees and has raised approximately $1M in seed funding from private investors.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)
HQ: Mexico City, Mexico
Founded: 2010
Twitter: @SrPagoOficial