Payfacile, formerly known as Worldwide Bills Payment Network Inc. (WBPN) is an international bill payment company engaged in direct person-to-merchant fund transfer for the purpose of utility, recurring, and one time bill payments.

Payfacile won the 33rd annual 10K WMY New Venture Business Plan Competition at Wharton.

Our company provides a novel multi-patented internet based system, accessible via storefronts, personal computers, phones, SMS text and where customers can make bill payment directly to service companies of choice in our network. We enlist convenience for sender and receiver while solving the four most prevalent and persisting problems plaguing the remittance world.

Cost : Although remittance cost has decreased, current remittance companies charge exorbitant fees for transferring money. Our solution enables a flat fee regardless of the amount transferred. 

Security: There is an ongoing problem with remittance theft. By eliminating the need for the receiver to handle cash, we will eliminate the risk of theft in transition from the funds being picked up at transfer agency, to home and to destination companies.

Accountability: Common knowledge and our research suggest that the reason the funds are sent varies greatly from how the funds are used. Our bill payment services will enable the sender to account for all funds remitted. Current remittance pathway only allows for cash to cash transactions. Opportunistic companies are enticing consumers into buying superfluous goods that are not necessary and also would be disapproved by the money sender.

Sustainability: Increase investment versus consumption in the remittance market. End users continue to become more and more dependent on remittance. Significant portion of remittances are consumed instead of being invested in entrepreneurship, infrastructure and long term development.

Last year Western Union made over 774 Million Dollars from foreign exchange alone in addition to the 4+ Billion Dollars worth of transaction fees. Payfacile aims to prosecute a social heart transplant in the remittance world by challenging the status quo and emerge as a market leader.

100% of our foreign exchange money is dedicated to investment in our user's country. The use and proceed of cash from foreign exchange would be applied to the end receiving business for infrastructure development instead of our bottom line. For example, at the end of the year, if an electric company does $90,000 worth of foreign exchange, that money would be converted into a managed grant where that company could refurbish its system to give electricity for 7hours per day instead of 4 hours per day. Schools would be able to pave roads around school grounds or acquire computers. Hospitals would be able to use similar funds to purchase better equipments. Companies in the US would be able to use grant proceeds to fund strategic operations that would create jobs. Etc..

Can you imagine the impact if every year, 774+ million dollars returned back to its users around the world?

We are currently in an economy where corporate greed has effectively churned the free market system. With the rise of cost of living and immigration reform around the world, it is becoming increasingly harder for families abroad to continually provide for loved ones. Now more than ever is the time to reinvent the free capital market and make major companies more endearing to the social movement of their customers.

Our goal here is to change this industry practice. We expect and welcome existing players to replicate our approach. Foreign Exchange is the collective profit of immigrant's hard earned money throughout the entire world. At Payfacile, we believe that this money should go toward entrepreneurship, economic, social and infrastructu development in each respective country. 

What that means for the customer: Their money sender can directly interface their service providers and merchants. This approach will save the receiver time and help with faster bill payment. 

What that means for the Payee Company: Prompt payment, faster cash turnaround, reduced collection cost, increase sales, reduction of local shop or storefront cost. This also includes, increase business infrastructure development via foreign exchange income. 

Payfacile creates a situation where remittance receivers can make the most out of their money; invest in long-term solutions that provide a better living in the receiving country thereby creating a sustainable and prosperous country for remittance end users.

MANAGEMENT TEAM

Alberto Osio, Chairman

As the founder of OSDI, a company focused on purveying milk substitute products to the impoverished, and Presbytek, a medical device startup with disruptive technology in ophthalmology, Alberto brings previous start-up expertise and leadership to WBPN. Alberto also brings over six years of international management experience with Hormel Foods and Grupo Herdez (Mexico�s largest food company). Alberto led the expansion of the national distribution network for Grupo Herdez in the US. He holds a Bachelors degree and a post-graduate degree in International Business from Anahuac University. He holds an MBA from the MIT Sloan School of Management.

Marc Saint Clair, COO

Marc is currently a system development consultant and agent at the esteemed Randy Wilburn Group. he invented and coined the "Wilburn Bond" system to expedite outstanding client application approval process. He is currently the VP of Business Development at The Real Estate Investment Group (REIG) in MA. At REIG, he is co-spearheading the development of a fully customized real estate investment application with disruptive technology that is poised to revolutionize Real Estate investment world. His effort with negotiating with key partners reduced development cost by 45%. Marc has more than five years of executive level healthcare management experience. Marc has a Bachelors degree from the University of Miami in Biology. He is currently pursuing an MBA at Babson F.W. Olin Graduate school with concentration in Entrepreneurship and Global Management.