The startup offers a self-service payment platform that replaces traditional ATMs with cash-accepting kiosks, enabling retail locations to provide low-cost financial services. This technology connects cash-based communities to the digital economy, facilitating convenient access to online financial transactions.
Funding
$2.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals in underserved communities lack convenient access to affordable financial services, relying on expensive alternatives due to limited banking infrastructure and branch locations. Traditional ATMs offer limited functionality, failing to address the diverse financial needs of cash-based communities.
Solution
Maya Labs provides a self-service kiosk platform, called Smart ATM, that connects cash-based communities to the digital economy by offering a range of financial services beyond traditional ATM functionality. The Smart ATM platform enables users to perform check cashing, money transfers, bill payments, and prepaid phone reloads without the need for a cashier. The platform is designed to integrate with various service providers via API, allowing for continuous expansion of available services and customization to meet specific community needs. The Smart ATM hardware runs on a Linux operating system and processes transactions in the cloud, enhancing security and stability compared to traditional ATM systems.
Target Audience
The primary target audience includes retailers, check cashers/money service businesses (MSBs), and ATM operators looking to reduce overhead, increase foot traffic, and provide financial services to underserved communities.
Features
- Check cashing with integration to Tier3 self-service check cashing solution
- International money transfer capabilities
- Bill payment options through CheckFreePay integration
- Prepaid phone reload services
- Standard ATM cash dispensing
- Interactive Video Teller option for face-to-face assistance
- Cloud-based transaction processing for enhanced security
- Remote monitoring and management via a web-based admin panel
- API integration for third-party service providers to add new services