CHICAGO, Sept. 28, 2011- With the rise of the tech friendly society, one Chicago based business is changing the way people send money back and forth to each other. Payment Over Mobile Solutions (POMS) has developed a system to not only cut the burden that peer to peer (P2P) money transfer is traditionally accompanied by, but also cuts the cost anywhere from 50-80% for the consumer.

For generations, the staple in peer to peer money transfer has been methods like Western Union and Money Gram. With the shift of Americans to a more on-demand lifestyle, traditional money transferring will soon be taking the back seat with other relics of the pre-mobile tech era.

POMS is a new payment platform being developed in collaboration with key partners of the retail payment ecosystem. POMS will facilitate secure, real-time payments and services via web, mobile, or retail locations, giving consumers the most flexibility of any P2P system to-date.

“The problem with new startup payment companies and merchant solutions is the cost of technology. We have developed POMS utilizing legacy technology already in place at retail establishments across the country. By creating a turn-key software solution for our retail transaction processing partners, we have been able to keep the costs low and cut the financial, logistical, and time delay burden most consumers face with P2P money transfer today,” commented Rahier Rahman, Co-Founder and COO of POMS.

POMS will initially target the immigrant and underbanked demographics, particularly those who lack access to a payment card or are without a traditional banking relationship. There are approximately 80 million underbanked consumers in the U.S. This consumer segment receives approximately $1 trillion in annual income and relies heavily on cash for everyday transactions. POMS convenience store footprint dovetails well with the consumer’s retail activity at the local marketplaces leveling the playing field and serving as an alternative method to send and redeem P2P money transfers.

The POMS pilot program will be accepted at approximately 20,000 retail outlets across the United States including nationally recognized convenience stores which operate under brands like Shell, Chevron, Piggly Wiggly, and BP. “We are excited to receive such a positive reception from our partners who represent some of the leading retail convenience store brands across the nation. Working within their existing systems has been one of the top selling points for our scalable platform. We will be rolling out our test platform later this winter with much anticipation from merchants across the globe,” finished Rahman.

For more information on POMS technology including investor inquires, you can visit http://www.usepoms.com

I remember my macro economics professor late from the Bundesbank shaking his head at the notion that they were still sending checks by mail in the US on regular occasions.

I completely agree with the comment about the quasi monopolies running rampant in a framework of bad regulation. The ante for that has just been upped through the coming patent battles which are going to substitute litigation for innovation and competition.

The US is under siege economically by a mercantilistic, breakneck innovative, IP non respecting world power and no one in Washington has even woken up to the fact. (If you’re late, History will punish you. – Gorbatchev)

+ Bình bột chữa cháy trung quốcABC 4KG MFZL4 có dung lượng 4±0.08, áp suất làm việc 1.2 MPa, phạm vi xả ≥4, thời gian xả ≥1, nhiệt độ làm việc -20~+55˚C
+ Lăng phun Sản xuất trên dây truyền công nghệ Việt, sản phẩm thể hiện rõ tính ưu việt, dễ sử dụng và mang lại hiệu quả tốt.
+ Van chữa cháy là loại van cứu hỏa lắp đặt trong hộp phòng cháy chữa cháy, được sử dụng để cho lính cứu hỏa tháo nước ra ngoài trong suốt quá trình chữa cháy.
+ Vòi chữa cháy D65-10AT: có áp suất hoạt động(MPa): 10MPa, chiều dài (m) là 20m, chất liệu là PVC
+ Bơm chữa cháy dragon DBD Series. Lưu lượng 250(m³/h). Cột áp 220m. Được sử dụng rộng rãi trong phòng cháy chữa cháy
Hãy đến với công ty chúng tôi để chọn được sản phẩm tốt nhất.

In other news today: “If you’ve been wondering just when you’ll be able to get Europe’s hottest smartphone from last year, wonder no more…” (Engadget)

Monopoly corporations run amok with a regulatory framework largely dismantled. It wasn’t always this way.

Fences exist for reasons; payment systems exist for reasons. Fraud is a big one. Immediate payments cannot be canceled. There is a physical limit to how much cash can be physically transferred; there are no such natural limits to EFT. There are good reasons for the payment infrastructure that exists in the world’s biggest economy; changing it may have all sorts of second-order and third-order effects. Can you see a couple of them?

If all you can do is advocate for IFT because other nations have it (Which? In what context?), I shall certainly oppose it.