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Echo Payment Systems

Echo Payment Systems

Seamless distribution of access to financial products and services for consumers and businesses worldwide.

Company Overview

According to the Federal Reserve and many other sources there are over 70 million people in the US alone who are classified as “underserved” by traditional financial institutions. This number includes approximately 20 million people with no bank account and can be expanded to include millions of small business owners and 77 million millennials who are abandoning traditional banks in favor of mobile services due to a lack of service from traditional channels.


ECHO is a financial technology (Fintech) company that combines the power of modern payment card processing platforms, proprietary middleware systems, and deep Regulatory and Fintech subject matter expertise to deliver virtual and physical payment products to the financially underserved market segments. ECHO capabilities include consumer facing mobile and physical banking solutions, bill payments, near real-time low cost international remittance, multi-currency wallets and remote check-deposit capture.

Traction

  • Company formed and initial funding secured.

    July, 2015
  • First program agreement representing $2MM revenue / year

    September, 2015
  • Second program agreement representing $1MM revenue / year

    September, 2015
  • All essential vendor partnerships secured (legal, issuing bank, processor, card manufacturer, customer service, risk/fraud management)

    December, 2015
  • Secured Visa promotional partnership

    January, 2016
  • Program beta testing begins for first program

    January, 2016
  • Program beta testing begins for second program

    February, 2016
  • First two programs launch successfully

    February, 2016
  • Added sales manager and opened new referral channels

    March, 2016
  • Several thousand active customers

    March, 2016
  • International distribution agreements with largest privately held global forex company worth $5MM+ revenue / year

    April, 2016
  • Sales and referral channels trigger multiple new contracts representing revenue of $44MM / year

    May, 2016
  • New distribution agreements, growth trigger need to search for growth funding

    June, 2016
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