Traditional payment processing for retail transactions incurs significant merchant fees and can involve delayed settlement times. Consumers and businesses often lack flexible, secure, and instant payment options that bypass conventional card networks.

Local Pay offers a low-cost, instant payment solution utilizing a patented distributed payment routing network for real-time settlement. This technology enables consumers and businesses to make payments directly from their bank accounts, bypassing traditional card rails and reducing merchant fees by up to 1.5%. The platform provides a secure and streamlined transaction experience through biometric authentication and flexible account linking. Merchants benefit from faster access to funds and reduced operational costs, while consumers gain a convenient and secure payment method.

Patented distributed payment routing network for point-to-point transaction processing.

Real-time settlement capabilities upon payment confirmation.

Biometric-enabled security features for enhanced transaction protection.

Flexible account linking, allowing payments from checking, savings, or credit accounts.

QR code-based payment initiation for simplified consumer and merchant interaction.

Reduced merchant fees, offering potential savings of up to 1.5% compared to traditional card processing.

Banking-grade security, distinct from cryptocurrency or stablecoin-based systems.

API integrations with core banking system providers like Jack Henry, FIS, and Fiserv for bank partners.

The primary target audience includes consumers and businesses seeking lower-cost, faster payment alternatives, as well as financial institutions and credit unions looking to offer enhanced payment products to their customer base.

Revenue is generated through transaction fees, with potential for additional revenue streams from banks and credit unions through payment product offerings and partnerships.