Fency Systems building zero-fee credit card processing platform

Merchants no longer need to pay transaction fees for payments. Merchant's don't even need a merchant account anymore.

Fency Systems is building a radical new platform that gives merchants the flexibility to choose how much or how little they pay in transaction fees. Fency will eliminate fees for accepting payments, payroll, and B2B transactions.

Using new technology and dedicated hardware, Fency turns every retail cash register into a transaction validation node on the Fency network. Merchants are validating transactions and balances for each other all over the globe instead of paying banks and credit card companies to do the same thing.

Fency aims to save merchants billions of dollars a year in fees and expenses related to taking payments. As an extra bonus, Fency has a built-in rewards platform that gifts consumers a 5% bonus with each and every credit or debit transaction on the network. Fency's payment system automatically determines a customer's loyalty balance at checkout and applies either their bonus (if available) or charges their card. Consumers aren't required to be members of the Fency network or use the Fency mobile apps to pay at any merchants. They can simply swipe their card at checkout like always.

Merchants pay a flat monthly fee for access to the Fency network and Fency hardware. There are no surprise charges, complicated statements, or transaction fees for any transactions. This monthly fee has not been set in stone yet, but could range anywhere from $30 to $79 a month depending on hardware cost/needs of merchants.

Fency is still refining their product, but expect to have a market-ready launch for merchants in the United States by the end of 2018. The Fency network itself is currently built & fully operational. Accompanying Android & iOS Apps are in working stages, but with more upgrades to come before being released to the public.

Any inquiries to the status of the Fency launch or to learn more, contact Fency support: support@fencypay.com or 1-833-Go-No-Fee

Thursday, June 28, 2018 6:10 PM