Personas Social Offers Email Money Transfer Payments

Rhea-AI Summary

Personas Social Incorporated (TSX.V: PRSN, OTCQB: PKSLF) has expanded its payment processing services by integrating email money transfers for online purchases, enhancing its suite that already includes credit card, debit card, Bitcoin, and in-app payments. This new feature is expected to reduce chargeback losses and fraud, making it appealing for users wary of credit card use. The company plans to introduce ACH payment processing for recurring billing as part of its upcoming subscription services, aiming to lower costs and boost sales.

Positive

• Addition of email money transfers expected to reduce chargebacks and fraud.
• Integration of ACH payment processing for recurring billing.
• Expands payment options for the 33% of users hesitant to use credit cards online.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Personas Social Incorporated (TSX.V: PRSN) (OTCQB: PKSLF) (the “Company”) is pleased to provide an update on its payment processing offerings.

The Company is pleased to announce that it has added email money payment processing to its suite of payment processing services. The Company currently provides its users with a variety of payment options such as credit card payments, debit card payments, Bitcoin, and in app payments. Email-money-transfer is a welcomed addition to the Company’s suite of credit card free payment options. Email-money-transfer is a service offered by banks, typically to facilitate person to person payments. The Company has integrated technology that will facilitate processing email money transfers for online purchases for Canadian customers. The technology will allow the Company to tie incoming email-money-transfers to specific purchases on all the company’s online services. The Company will be integrating similar services to process “email-money-transfers-like” for its US and European users in the upcoming weeks. Email-money-transfer transactions are generally considered “final’’ and as such significantly reduce losses due to chargebacks and fraud. The Company is also in the process of integrating ACH payment processing services. ACH payments are “Pull” payments that facilitate recurring billing by allowing the Company to debit funds from user bank accounts. The Company will offer ACH payments in addition to credit card payments to users as part of its upcoming Subscription service. Credit card free payment processing alternatives are highly attractive to the 33% of users who fear using credit cards online (https://www.lexingtonlaw.com/blog/news/american-credit-card-fears-survey.html).

Management believes that its new payment processing offerings will lower costs and improve sales by offering its users low cost credit card payment alternatives. For more information on Peeks Social upcoming release of its subscription services please visit us at https://www.peeks.social/new-features-launching-fall.

Forward Looking Statements

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect", "plan", "intend", "anticipates", "projects", "potential" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward-looking statements are statements that are not historical facts. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210928005370/en/

Personas Social Incorporated

Mark Itwaru

Chairman & Chief Executive Officer

416-639-5335

mark@Personas.com

Source: Personas Social Incorporated

FAQ

What recent payment processing updates did Personas Social Incorporated announce?

Personas Social Incorporated announced the addition of email money transfers to its payment processing offerings, alongside plans to integrate ACH payment processing.

How will email money transfers benefit Personas Social customers?

Email money transfers are expected to lower chargeback losses and fraud, making transactions safer for users.

What percentage of users are hesitant to use credit cards online based on Personas' findings?

33% of users are reported to fear using credit cards online, which the new payment options aim to address.

When will ACH payment processing be available from Personas Social?

ACH payment processing is set to be integrated as part of Personas Social's upcoming subscription services.

What are the stock symbols for Personas Social Incorporated?

Personas Social Incorporated is traded under TSX.V: PRSN and OTCQB: PKSLF.