Payfacile, 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 has achieved significant milestones including winning 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 five most prevalent and persisting problems plaguing the remittance world.

Convenience : There are some parts in the LAC where if you were to go to the hospital due to an emergency, you would not be treated until you purchase the medications, surgery tools, and prepay for services. You would have to wait hours before family memberscand transfer and pick up money.

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 eliminate the risk of theft in transition from the funds being picked up at the 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 enable the sender to account for the majority of 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: End users continue to become more and more dependent on remittance. Our social solution addresses the multi-decade problem of consumption versus investment in the remittance market. Significant portion of remittances are continually consumed instead of being invested in entrepreneurship, infrastructure and long term development. Payfacile re-invest some profits in partner relationship at micro-level thereby providing direct solutions that have long evaded prior global and strategic initiatives.

Last year Western Union made over 774 Million Dollars from foreign exchange alone in addition to the four plus Billion Dollars it made from  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.

Nearly 100% of our foreign exchange return is dedicated to investment in our user's country. The use and proceeds 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 provide electricity for seven hours per day instead of four 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.

If the LAC region received 774+ million dollars in the form of grassroots investment, 10 years from now, the LAC region can begin working on region wide fiscal policy.

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

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. 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 Payfacile. 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, Managing Director & Founder

Marc is currently a system development consultant at the esteemed Randy Wilburn Group. He invented and coined the "Wilburn Bond" system to expedite outstanding client application approval process. He is also 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 the Real Estate investment world. His effort with negotiating with key partners reduced development cost by 45%. Marc has more than five years worth 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. 

ADVISOR

Frederic Chartier

Chartier has worked 21 years in banking within the financial services groups American Express, Dresdner Bank, and Bank of Boston (now Bank of America). His banking expertise ranges from credit analysis to domestic and cross-border lending, treasury sales, foreign exchange and interest risk hedging advisory services. Frédéric has worked in a diverse cultural and geographic environment. As Director of Institutional Treasury sales at American Express Bank in London, his geographic customer base encompassed 15 countries spanning from Europe to the Middle East, and Africa. He has lived on 3 continents, Europe, North America, and Africa, and speaks 4 languages. Born and raised in Paris, Frédéric received a B.B.A and an M.B.A from the University of Texas at Austin, and also holds a post-graduate degree in banking from the Centre d’Etudes Supérieures de Banque (C.E.S.B.) in Paris. He has been teaching Economics and Finance at Babson College since 2004. His main interests are focused on International Economics and International Finance. Frédéric works in English, French and Spanish