How they describe themselves: Veterans from the payments industry founded Fuze Network to eliminate latency, cost and errors in payments. Their first target marketplace is the under-banked and un-banked consumer where an expansive list of products released in 2011 help the biller and retailer profitably deliver convenient services for this large and important consumer market. Fuze partners with retail payment networks, banks, credit card issuers, utilities, and other companies looking to expand their payment options and visibility to the cash-based customer.
How they describe their product/innovation: Swipe2pay enables customers to make payments at 17,000 banks and 100,000 retail locations nationwide. Swipe2pay permits cash preferred consumers to make a payment by simply swiping their card. Credit cards, store cards, gas cards and thousands more can be paid in cash at any participating location. This innovative service takes 99.9% of all cards, automatically enables over half a billion cards as well as over 300,000 card programs with a single software connection. For billers, Swipe2pay delivers error-free convenience at a lower per-payment cost with no exceptions or misapplied funds. Payment networks will see increased store traffic and new revenue streams; with no new start up costs or equipment to buy. Our services directly integrate into current infrastructure. Consumers will avoid late fees, stamps, money orders, and paperwork: all at a lower price.