How they describe themselves: BancPass was founded to provide alternative payment solutions for mobile services including toll, parking and fast-food. Our payment solutions bridge the divide between existing commercial payment solutions and the $13B in toll transactions per year. We support cash payments for unbanked customers, national toll interoperability (driving any toll road with a single payment mechanism), and the convenience of using a phone app to pay tolls. BancPass is working to develop and drive standards for mobile license plate payment technology, as well as RFID technology.
How they describe their product/innovation: PToll™ is an app that allows drivers to pay for mobile services by taking an image of the driver’s license plate within the PToll™ app. For the consumer, PToll™ offers a convenient means to use toll roads or other mobile services, and even allows users to reload their accounts using cash. For toll and commercial operators like parking and fast-food, the app provides an efficient and inexpensive means of collecting payment. Users pay the transaction and small convenience fee. Account management is all handled within the app. PToll™ allows user to pre-fund the account using cash, or “pay-as-you-go” with a valid charge card, PayPal or Google Wallet account.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed
Bus. Dev., Press, Sales: Shannon Swank, VP, firstname.lastname@example.org, 512-971-9741