DynGo Pay
BPSP service converting credit card transactions into ACH payments on behalf of payers to their non-card accepting merchants opening up $28T of B2B transactions (annually).
DynGo Pay is a Business Payment Service Provider (BPSP) that converts non-revenue generating payments such as ACH, check and cash, into revenue generating credit card payments by allowing businesses and consumers to use a credit card to pay a non-credit card accepting vendor.
DynGo Pay deploys to the market via a white-label technology solution licensed to banks which enables card payments and integrates with any back-end payment processing capability regardless of the settlement platform. A business banking customer, the end user, accesses DynGo Pay as a payment option within their online banking portal.
What problem DynGo Pay addresses:
DynGo Pay deploys to the market via a white-label technology solution licensed to banks which enables card payments and integrates with any back-end payment processing capability regardless of the settlement platform. A business banking customer, the end user, accesses DynGo Pay as a payment option within their online banking portal.
What problem DynGo Pay addresses:
Businesses owners often have thousands of dollars of issued credit (through credit cards) that they cannot deploy in their business simply because merchants refuse to participate in the credit card process. Leaving businesses cash strapped at times even with plenty of available credit. Merchants dictate payment terms and demanding payment acceptance must only be cash, check or ACH.
How DynGo Pay solves this problem:
DynGo Pay puts the power of payment in the payer's hands to use issued credit, to manage their cashflow and get reward points. Giving businesses the ability to use credit issued to them in a way to manage their business. DynGo Pay allows the payer to use their credit cards for any merchant and requires no merchant set up or acceptance. From the merchant perspective, they see no difference as they are delivered an ACH as per their terms for the full amount.
DynGo Pay can only be accessed through a banking portal to comply with all banking regulations and satisfy KYC/AML requirements. Transactions are made from federally regulated banks to federally regulated banks. This model is targeting the annual $28T of $30T in business payments. The card brands are leaning in to reach this market and will not cannibalize their existing transactions.
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