Business
Hank Payments Contracts South Carolina College for Hank Education Platform
Toronto, Ontario--(Newsfile Corp. - March 7, 2024) - Hank Payments Corp. (TSXV: HANK) ( "Hank" ...
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[{"type":"text","content":"Hank Payments Contracts South Carolina College for Hank Education PlatformToronto, Ontario--(Newsfile Corp. - March 7, 2024) - Hank Payments Corp. (TSXV: HANK) (\"Hank\" or the \"Company\"), an emerging North American leader in the Banking-as-a-Service (BaaS) market with a platform that modernizes budgets and payments for enterprises and consumers is pleased to announce it has signed South Carolina based, Clinton College, for its Hank EDU platform. The college will initially launch Hank's proprietary \"FAST FUNDS - Direct to Debit Card\" product, which allows colleges to seamlessly distribute excess funds collected, through bursaries, student loans, and rebates, back to the students. Implementation is scheduled for April. \"We're proud to have been chosen by this historical state college for the implementation of Hank's FAST FUNDS and look forward to launching and building on the early success of our platform,\" said Michael Hilmer, CEO and Chairperson.About Hank Payments Corp. Hank Payments Corp (the Company or \"Hank\") is a North American leader in consumer Fintech Software-as-a-Service (SaaS) and Banking-as-a-Service (BaaS) platforms that manages consumer cash flow and budgets on an automated basis using proprietary algorithms that collect, store and disburse cash as required to discharge obligations in a timely fashion. The Hank stack provides for several vertical market applications of the technology, with features specific to channels and enterprise accounts (\"Partners\") that allow those partners to operate new lines of business and revenue streams, using Hank. The Partners benefit from new revenue streams and powerful insights that open up additional opportunities for Partners to grow assets using Hank. The Company operates exclusively across the USA, with certain leadership and technology functions in Toronto. Hank houses the complex technology, banking, treasury, customer service, sales and operations teams that acquire and service consumers. Hank currently charges upfront enrolment/setup fees and recurring monthly fees based on the types and quantity of payments that Hank Payments administers for the consumer (the \"Users\"). The Company acquires Users through various channels including (i) small to medium sized enterprises (the \"SME Partners\") and (ii) large enterprise businesses (the \"Enterprise Partners\"). Th...