SoftCoil's technologies provide a flexible software plateform that can be used to provide business solutions applicable to a number of industry verticals. Some examples are given below but the capabilities of the SoftCoil system make it applicable to countless others as well.
Internet Payment Service Providers (IPSP)
Q: What are companies like Microsoft and Facebook doing that you're not?
A: Using stored value systems based on a virtual currency like 'Points' or 'Credits' to insulate themselves and their merchants from potential fraud and refunds.
The Softcoil Prepaid program management suite allows you to create a real or virtual currency based stored value marketplace to service your customers.
Money Service Businesses
SoftCoil's customizable P2P functionality allows it to support a variety of business models in the MSB space.
International payroll brings a host of problems that can complicate the process of working with vendors, contractors and employees overseas. Even with a local banking relationship payments can be difficult to process, track and complete on time. SoftCoil's platform allows a money service business to serve as a single payroll agency for companies with employees in nearly every country in the world.
One of the primary goals of expatriot workers is to provide support for family members left behind in the home country and funds transfered cross borders by these individuals is estimated to total over 800 billion dollars a year. However, traditional transfer mechanisms can bring a host of problems from high fees to transfer delays to difficulty retreiving the funds at the destination. The SoftCoil system allows money services business to solve these problems and others for their customers, resulting in increased revenue and increased market share.
The under banked are a growing pool of potential customers, especially in difficult economic times. SoftCoil's plateform allows a money service business to provide quasi-banking services to these individuals that could traditionally only be provided by a dedicated consumer bank.
Use SoftCoil's open network functionality to issue a prepaid card on a traditional network like Visa or MasterCard. Integrate your customer's activity to with your existing rewards program or use SoftCoil as the plateform to create a new one.
Merchant associations can use SoftCoil to create an association wide private label payment card that can be integrated with existing rewards programs or used as a plateform to create a new one.
Large merchants can use SoftCoil to create and manage a private label prepaid card that can be integrated with an existing rewards program or used as a plateform for a new one.