$Pay Rem, Inc.: A Secure Solution For Local and International Money Transfer and Digital Payments
Andre Bouassa, Founder, and President With the internet widely popularizing online shopping and other ecommerce businesses, electronic payment models have now evolved from a technological novelty to one of the most prominent and reliable payment options. Consumers’ never-ending quest for fast, flexible, and frictionless digital payment options has largely driven the adoption of several robust mobile payment solutions, peer-to-peer (P2P) payments, digital wallets, cryptocurrencies, and even more. While the adoption of mobile payment applications was already picking pace globally, pandemic-induced shutdowns and the associated surge in online shopping have created a significant uptick in consumers’ migration towards the mobile environment to satisfy their varying fund transfer needs. A study conducted by Cornerstone Advisors in December 2020 has stated that nearly eight in 10 users are using at least one mobile payment app on their smartphone ever since the pandemic was declared. Going by the trends, mobile payments would be the most preferred mode of payment by the masses in the future. Allied Market Research’s recent study estimates that mobile payment services are expected to grow and reach a market estimate of $12.6 trillion by the end of 2027. Though existing mobile payment applications have a proven track record in domestic transactions, they often fail to make international transactions simple. Built or customized according to the needs and regulatory norms of a country, a typical platform’s place of origin highly influences its functionalities—keeping global remittance and payment services beyond its core competencies. This is precisely where $PayRem, Inc. makes a world of difference with its next-generation mobile payment platform.
"$Payrem is a beginning of our new journey leading to a global digital bank and a fintech next generation technology"
Headquartered in North Carolina, this emerging Fintech organization is always driven by a mission to establish a secure mobile payment and money transfer ecosystem that offers a wide range of services at affordable prices. Adhering close to this principle, the company specializes in global remittance and payment services and provides a future-proof P2P and B2B money transfer and digital payments platform, $PayRem. “Our solution serves as a value-added alternative for the existing platforms, allowing seamless cross-border interaction that is needed for unrestrained global transfers,” says Andre Bouassa, President and Founder of $PayRem, Inc.
A Journey towards Excellence
Designed to revolutionize financial transactions and electronic payments, $PayRem serves as an electronic wallet and a virtual bank account that allows transfers and remote purchases globally. Elaborating on this, Bouassa adds, “We have invested a lot of time and combined existing mechanisms of the FinTech industry to create the ultimate one-stop-shop payment solution, despite difficulties in licensing, regulatory affairs, and finding suitable financial partners.”
$PayRem offers creative, state-of-the-art, cost-efficient, and unique solutions to customers’ varying needs, making it the go-to payment platform for businesses, families, co-workers, and friends.
As CEO of $pay rem inc and it expert, i see $payrem platform with its all functionalities as the best in terms of vision, innovation, management system, technology, operations and all services
Today, $PayRem’s next-gen mobile payment solution has integration with payment platforms across 110 countries, and the number is expected to rise to 150 by the end of 2021. “We’re now into building an innovative approach to growth in terms of product quality, services, technology, future investments, and digital transformations while supporting customers to navigate the emerging markets in an affordable and accessible manner,” elaborates Dr. Tamara Alqolaghassi, the CEO of $PayRem, on the company’s vision.
Creating a New Era of Mobile Payments
$PayRem’s state-of-the-art application enfolds a simple and easy-to-use interface with fund transfers that provides users with the flexibility to send money to any number of beneficiaries according to their convenience. Customers can transfer funds via various options like bank accounts, mobile wallets, and cash pick-up by leveraging the company’s extensive network of local partners. Unlike a typical payment platform where receivers seldom have a say regarding fund transfers, $PayRem provides them with the freedom to decide where their money is deposited, either in their bank accounts, e-wallets, or received as a cash payment. Developed with $PayRem’s proprietary architecture and in-built state-of-the-art security protocols, the solution outruns the competition by allowing instant fund transfers into the beneficiary’s accounts or mobile wallets.
Similarly, $PayRem is appreciated for its ability to enable users to send money across different platforms without paying additional fees. By making foreign exchange rates and transaction charges completely visible to customers, the company ensures transparency in the exchange processes. $PayRem also integrates with local institutions and utility service providers that allow its users to complete bill payments for electricity, water, and even purchase groceries and other commodities by leveraging its mobile payment platform. Moreover, the platform is also compliant with the U.S. and other international legislation and has partnerships with globally reputed banks and technology service providers. $PayRem recognizes the importance of innovation and customer satisfaction and conducts trials to ensure that the platform supports the latest technologies and remains highly efficient, irrespective of users’ locations.
Building a Unique Niche in the Payment Space
As a FinTech company that focuses on augmenting cross-border remittances and payments, $PayRem’s platform can be easily customized to align with the regulatory requirements and availability of technology in different countries. Recalling one incident, Bouassa says, “For enabling a transfer between customers in different countries, we have to ensure that the systems and technologies on both ends of the transactions are analogous to each other.
Richard M. Hall, Vice President and Co-owner In Charge of Compliance and Security and Dr. Tamara Alqolaghassi, CEO''Per example, the tools used in the Philippines for payment gateways can be customized by our platform and partner to match the Philippines' needs." Cost is another aspect that makes $PayRem unique since over $40 billion in remittances is failing to reach recipients every year because of the high transaction costs of international money transfers. The company’s proprietary electronic payment solution mitigates this issue by providing customers with an affordable and economic range of cross-border transfer services. Besides being cost-effective, $PayRem’s robust, convenient, and secure electronic payment system and distinctive mobile application offer users a host of other value-added services that eclipse simple financial transactions. “Our solution offers transparency, speed, flexibility, state-of-the-art security, easy integration and monitoring, and payments via mobile number recognition,” mentions Bouassa. The solution also encompasses virtual accounts while enabling users to access chipped cards by Visa and MasterCard.
"In order to serve our clients very well, i bring to $pay rem inc my 27 years of diverse experience and training including the 17 years as a u.s. marine, 12 plus years of executive protection and high threat protection security details for corporate executives and foreign diplomats worldwide"
$Pay Rem has an array of seasoned professionals in which I am proud to be one of them with 17 years of banking expertise in various specialty banking. As a vice president of a fortune 100 financial institutions in America, I was privileged to manage up to 600 relationships of high-net-worth clients where I served them with intentionality to grow their businesses. My commitment to Payrem is deep as I transfer my corporate America expertise, global consulting, and higher education experiences to help our clients and communities.
Envisioning a Connected Tomorrow
With the vision to add more value to the existing technologies, $PayRem consistently upgrades its solution to ensure that its clients leverage the newest technologies to the maximum. Moreover, the company is always striving to position itself as the standard go-to mobile application for money transfer and digital payments in the near future by identifying and bridging the gaps in today’s payment space. $PayRem’s payment mobile payment platform is the first milestone in the company’s incessant journey towards revolutionizing the mobile payment services ecosystem.
Bouassa adds, “The stage two of our plan is to develop a digital bank, for which the technical infrastructure is already available. We will deploy it in the next twelve months, and $PayRem will be available for international use soon.” As Tamara concludes, “We aim to increase our shareholder value, enhance our platform, and improve internal operations that drive highly efficient strategic decisions. Our target is the overall success of our company, leading to the development and execution of long-term strategies. $Payem is expected to take the US market on November the 15th and the global market on November the 29th.”
Company
$Pay Rem, Inc.
Headquarters
Raleigh, North Carolina
Management
Andre Bouassa, Founder, and President
and Richard M. Hall, Vice President and Co-owner In Charge of Compliance and Security and Dr. Tamara Alqolaghassi, CEO
Description
PayRem, Inc is a mobile money transfer and payment services platform that enables seamless money transfer across various countries. The company is always driven by a mission to establish a secure mobile payment and money transfer ecosystem that offers a wide range of services at affordable prices. Adhering close to this principle, the company specializes in global remittance and payment services and provides a future-proof P2P and B2B money transfer and digital payments platform, $PayRem
