What Is Term Payments?

Term Payments is a payment solution that allows a consumer to pay for their online purchases in person. It removes any barrier to make online purchases for people who are unbanked or under banked, don't have debt or credit cards, or for people who don't have confidence in online security when providing payment information.  

The feature of being able to pay in-person means that a consumer can pay for their online purchases with any method of payment they choose, including cash. In the United States 35% of all purchases are still conducted with cash. At the global level the percentage of transactions made with cash jumps to 80% and above. 

Term Payments creates a bridge between digital payments and physical payments as well as physical banking services and digital banking services. The barrier to entry to the digital economy is extremely low because accessing Term Payments is as simple as going to your local store. Term is creating an expansive network of local and national chain stores, mom and pop and family establishments, to create a payment system that only requires them to download a program to their internet connected point-of-sale system or cellphone. This connection will allow physical locations to accept payments. Using Term Payments is as simple as going into your local coffee shop and paying for your coffee and the pair of shoes you ordered the night before on your phone.

The ability to pay for anything online at a physical store that may be steps away with cash, levels the playing field for those who would otherwise be left out.