Biometric check cashing service BioPay Paycheck Secure has announced retailer partnerships for walk-in bill payment and prepaid debit for the underbanked consumer segment, which the firm estimates at more than 106 million individuals.
BioPay, which is owned by Phoenix Check Cashing (a Herndon, VA company which bought the company from bankrupt Solidus Networks this year), already allows pre-registered enrollees to cash paychecks that are loaded on prepaid cards.
According to BioPay, walk-in bill payment and prepaid cards markets are experiencing more than 30 percent growth for grocery stores, convenience stores and other retailers, allowing them to bump revenue, drive in-store traffic and increase overall merchandise sales.
