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How they describe themselves: QuickPenny is a free bank API that enables interbank peer to peer payment and merchant payment directly from the user’s bank application or website. With QuickPenny, people do not need to send money to external financial institutions like PayPal and Venmo. QuickPenny leverages the ACH payment rails, and it is cheaper to banks than Zelle. QuickPenny leapfrogs the physical card network and enables banks to earn more revenue than Visa and Mastercard debit cards.

How they describe their product/innovation: QuickPenny is a free bank API that enables interbank peer to peer payment and merchant payment directly from the user’s bank application or website. QuickPenny is differentiated from PayPal, Venmo and Zelle because it maps bank account numbers to URL addresses rather than to email addresses and cell phone numbers. QuickPenny is differentiated from PayPal and Venmo because payment happens directly from the user’s bank application or website. QuickPenny leapfrogs the physical card network.

Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

Contacts

Bus. Dev. & Press: Andrew Hendel, CEO & Founder, ajhendel@quickpenny.com, 310-564-6521