Herndon, VA–(HISPANIC PR WIRE)–July 19, 2005–BioPay, the leader in biometric transactions, announces that it has surpassed 140,000 consumers (many of them Spanish-speaking) enrolled at over 160 merchant locations in North and South Carolina using their biometric payroll check cashing system, Paycheck Secure. Retailers across the Carolinas have cashed over 500,000 checks for amounts totaling over $150 million via the Paycheck Secure system since inception.
Employed consumers who otherwise lack a bank account, social security number and other documentation are often frustrated by their inability to easily cash their weekly paycheck. Businesses wishing to solve this problem and help their community by offering payroll check cashing face the prospect of fraudulent check cashers. Prior to using Paycheck Secure, Jorge Luviano, owner of TransAmerica, a chain of convenience and money transfer stores in Durham, North Carolina (a city where the Hispanic market has grown more than 54% in the last five years) kept photocopies of bad checks and had no way of knowing when the next fraudulent check would be cashed. As a result, clerks were required to scrutinize every customer and question every check cashing transaction, potentially insulting long-time customers.
“Starting a relationship with suspicion is not the kind of customer service we want to provide,” says Jorge Luviano. “Many of our customers are from Mexico and Central America, and don’t use traditional banks for financial services. Paycheck Secure has been critical to our check cashing success. The consumers find it convenient and we feel safe from bad check writers, especially when you cash between 2,000 to 2,300 checks a month.”
BioPay’s Paycheck Secure system allows consumers to enroll with the touch of their finger at a grocery store, liquor store, convenience store or check cashing location. Once enrolled, the consumer can cash their payroll check at the enrolled location (or in some cases across a chain of locations) just by “putting their finger down” to check their identity. In addition to merchants like TransAmerica, BioPay Paycheck Secure is installed in major grocers such as Bi-Lo, Lowes Foods and Piggly Wiggly.
“I love it. As a person without a bank account, cashing my paycheck has just gotten easier with BioPay’s Paycheck Secure.” says Isidro Vega, “I just walk in, put my finger down and the clerk instantly ‘knows me’ even though they have never seen me before,” says Vega.
“Paycheck Secure takes all the guesswork out of the hands of my clerks,” Say Luviano. “With Paycheck Secure customers get through the check cashing line much faster and can get on to other business quickly.” Happy customers stay to spend their cash in businesses that offer biometric check cashing services. For instance, many customers like the convenience of cashing their check and then being able to pay their bills or buy groceries. “I have a lot of customers who rely on our wire transfer services to send much needed money back to their families in their homeland,” stated Luviano. “The additional business adds to my store’s bottom line.”
Since 1999, BioPay(R) has been providing smart, secure methods for processing financial transactions. Paycheck Secure has been used to complete more than fifteen million transactions worth more than four billion dollars. More than 1.9 million consumers are enrolled in Paycheck Secure, making it the most widely used retail biometric system in the nation. For more information on BioPay’s Paycheck Secure visit http://www.paychecksecure.com.
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