BaankPaay enables payment between individuals and businesses by facilitating transfers directly from their respective bank accounts. The process incurs no wasted time, no exchange of private data, no account creation, no transactions outside your trusted business circle and no hefty credit card transactions fees. Here are the steps.
The above is an "ideal" workflow when common accounting packages and banks have adopted Intrepids. Until then, vendors and customers use BaankPaay.com to create these transfers. Banks may use additional steps to verify users and confirm transactions, as they do currently using text or email confirmations but the basic process requires NO rekeying of any data after the initial invoice creation.
BaankPaay uses Intrepids, a new technology that enables business and individual consumers to create, store and exchange their arbitrary personal data with people and businesses they choose. When needed, Intrepids are simply uploaded to businesses they choose. The Intrepids are then unpacked and used for the users' express purposes. Intrepids themselves, and/or personal Intrepid data is NEVER stored on Intrep-id and related sites.
All data is purged from BaankPaay.com and Intrep-id related sites when user requests are completed. (Caveat - some transactional data may be retained in a few Intrepid related applications to assist users in servicing their transactions. This data is never sold or used for any other purpose.)
Data retained at BaankPaay for record keeping
BaankPaay charges a 0.25% convenience fee to vendors. Payor and Payee banks may apply their own charges for their services.
Questions? E-Mail: customer-services at baankpaay.com or call 512.478.3112.