Having struggled with repeated instances of theft and fraudulent transactions using Debit cards over an extended period of time, the founder of Spaarsh used the experience, frustrations and lessons to come up with a unique solution.
We started with a simple idea:
Consumers should have a simple and easy way to pay without having to worry about fraud or theft. This should be true for purchases made across the mobile web, the Internet as well as Point-of-Sale (POS) systems. The payment mechanism should be free or be the least cost option for merchants and by extension, the consumer.
3 factors differentiate Spaarsh:
1)Easiest for the consumer. No cards, wallets or other hardware is needed!
2)Exponentially more secure than current industry standards.
3)Cheapest option for merchants:
a. 2.5%/txn for credit cards or 25c/txn for ACH
b. 0c if using Bitcoins