me – a registered trademark

We’ve added ® to our logo me. It’s a milestone of branding that many young brands never achieve. There are big responsibilities to go with it though.

The way we look at it is the “circle r” is the reminder for us to always revere all people, especially our customers that trust our services. Revere them by not just saying so or having a feeling about it, but to serve reverence through constant action and improvement of service to make their lives easier and better.

Over time, it’s our goal to make the me brand register as a positive and intimate helper for each person who uses it.

And if we do this right, customers may someday revere me. That’s worth all of the hard work.

A big thanks to the whole Ganart Team for the achievement.

Do you know Ms. M and Mr. C?

What do you envision when you read the following?

Financial Education
Financial Responsibility
Financial Planning

Like so many other phrases, they mean different things to different types of people. For the sake of this story, consider “Mr. C” and “Ms. M”: a couple of “30-somethings” making “20 something” a year and working on the American Dream. Now, I could have chosen different people, however they represent tens of millions of people living and working in the US today. So Mr. C and Ms. M it shall be.

For a large swath of the population under say 40, their financial education begins right around the time they are introduced to that glorious electronic babysitter we call the T.V. They are bombarded with what they should have or could have or can’t live without. Their education advances throughout high school, college and into the working world via PC’s, laptops, tablets, and smart phones, so they can rest assured they are plugged in 24X7 for any “emergency requirements”. Oh wait, they may have been lectured by their parents at some point that you work hard for what you want and don’t ever get overextended using credit. Almost forgot about that one.

Being in their 30’s they may be or may have been married. They may be out on their own or in the process of moving out of, or back into their parents home. In any event, they have bills, which calls for financial responsibility – which in their world also calls into play financial planning. For far too many, financial planning for retirement begins far too late. Responsibility and planning for this extremely large group is measured in weeks. Paycheck to paycheck, and all too often, day to day.

Financial reaction, the current financial planning.

Ms. M is a single mom and has all the usual bills a single mom has…too many for her income. She does (or is supposed to) get a monthly child support payment from her ex-husband which almost closes the gap, but ultimately something always needs to slip or she will go without this or that to make it through her month and her world. She finds herself in a bad month, the storms of last week meant she was out of work for two days watching her kids with no pay. She has to make her rent and car payment AND find enough gas money to make it to work. She calls her ex to ensure not only this month’s check comes in, but he will need to catch up some on past months or she will need to call her lawyer (more cost and pressure) as she needs to take care of her bills. She is assured that a check is coming in at the end of the week, but only for what he can swing. She will be $80 short. What can she do? She, like so many others today, goes to a payday lender. She knows it is not what she wants to do, but she has little choice and is hopeful her ex will make good on his promise to catch up.

Under the Roof

Mr. C’s version of responsibility and planning marches to a different tune. Living at home (still) he has no rent or utilities. His clothes are done for him as well as his meals. However, he has “dug himself a pretty good hole” between his new car and his maxed out credit cards. Although he has a job which should allow him to save and save well, he has chosen instant gratification over Financial Responsibility and Planning. However, when the collection calls start coming in and his parents get the calls, he’s told he must straighten out or get out. It’s a true reality check. Like Ms. M, Mr. C decides to go to a payday lender. It’s only $800 and with the bonus everyone at work is talking about coming in soon, he figures he can get things in order and back on track in no time at all.

Both Ms. M and Mr. C took action based on what they thought was going to happen. In the end the child support check did not come in time for Ms. M, and that bonus never materialized for Mr. C. So begins the debt spiral.

These “stories” actually happen every single day. It’s the reason that payday lenders are the fastest growing financial sector. There are more payday lender storefronts in the U.S. than Starbucks and McDonald’s….combined!

The fact is that bills do not line up with paycheck dates. Neither does life’s little gotchas, like needing $40 for gas three days before payday. So what options are out there for the Ms. M’s and Mr. C’s of the world?

What if there were different way for Mr. C and Ms. M to pay their bills when due (before payday)?

What about having access to funds for critical need, like gasoline to get to work, without ever having to go to a payday lender or find themselves trapped in a debt spiral?

At Ganart, we’ve invented a way to help the tens of millions Mr. C’s and Ms. M’s.

Bringing financial options to the direct workforce.

WPSMEHZ

We call it the Workplace Solution. It is a self-service multifunction financial and value transaction center called Money Everywhere.

The Workplace Solution can also be tailored with the right services that matter to the workforce. None of the Ganart services are set up to ever entrap or exploit.

Money Earned Button

When a Mr. C or Ms. M get in a cash crisis, they can touch the Money Earned button on the me and get access to the money they have already earned. Since they’ve earned it, they’re good for it.

What they take out is automatically deducted from their next paycheck. A convenience fee is all that’s charged. No borrowing, contracts or paperwork. No interest either and they can take out as little as $20.

An average Money Earned transaction takes less than a 30 seconds and the me machine remembers this and all other transactions that a Mr. C or Ms. M make regularly.

At the same time, the Workplace Solution helps the workforce keep attention on profitable tasks instead of worrying about financial matters that take time and mind away from work. A minute during a break and a financial worry can be solved.

Financial Planning and Rewards

Not only does the me Workplace Solution effectively modify users personal financial responsibility by giving them much more convenient and cost-effective access to their money, but it rewards them for continued financial responsibility.

We now offer Money Earned as a payment source. So when a bill is due on Wednesday and payday is not until Friday, our clients can opt to pay that bill with with funds that are coming, keeping the lights on or the phone connected without the onslaught of late payment fees, reconnection expense and all of the stress associated with it.

cash and me

We are creating a reward program for clients who choose to pay their bills via the Workplace Solution. In addition to the 100’s of thousands of dollars we have already saved our clients vs. traditional payday loans, we will be launching a direct rewards program that will provide additional savings and monetary rewards.

A company sponsored benefit without the price tag

The Workplace Solution brings several benefits never before offered to direct employees within their workplace. It is delivered, deployed and managed at zero cost to the employer by Ganart. Knowing that there is no such thing as a free lunch, it will require an organization to work with Ganart to provide some initial information and to auto-send an “hours worked” file daily (just raw info, no need to refine) and the ability to take and process a deductions file. A company can manage the on-boarding of new hires or the removal of employees no longer there via a web based portal, OR it can be completely handled by customer service folks at Ganart.

If you you would like to help your Ms. M’s and Mr. C’s, contact Ganart Technologies and see how you can help your direct workforce become more focused and more financially responsible. www.workplaceme.com www.ganart.com

Wayne McHugh
Managing Director – Sales
Ganart Technologies Inc.
wmchugh@ganart.com

Facets

We’ve been working for more than four years to bring our vision to fruition. Our goal is to create a transaction platform that satisfies exploding demands for affordable transaction services—for everyone involved. With the TaaS platform, providers can get expanded distribution for their services, financial institutions can bring on more services to drive new revenue and new initiatives, and the end customer gets all of the services he wants in one system, affordably.

Best though, the TaaS system knows the customer and does things to make it easy for him to make transactions. It eradicates the complex, tricky and hidden things that all customers hate.

Sometimes, when we talk to people who aren’t familiar with us, they want to pigeon-hole us into a kiosk provider, or a switch network, or some other facet of what we do. They just see the facets and not the whole diamond.

We politely smile.

Depending on what piece of the platform they focus on we’re going to look differently to them than we do to someone else. That goes with the territory. We’re glad that different parts interest them.

It’s pretty cool to find an article from a while back that slipped our notice from someone who clearly saw the diamond.

We’re thankful that Stuart Lauchlan presented this diamond about us, a flawless, clear, mega carat of explanation.

With appreciation…Cloud banking from Ganart

Over 30,000 transactions in one calendar year – the story of one unbanked self-service me machine’s success.

Verified through me heartbeat data, over 30,000 transactions with an average of $300.00 a transaction, equated to approximately $9,000,000 of cash flowing through one of Ganart’s money everywhere machines for 2011.

This was achieved through only three services: money transfer to 29 countries, domestic bill pay and bill pay to Mexico.

It’s a happy new year for our client, Ganart and most importantly the unbanked customers served with high quality, accurate and fairly priced services.

Happy 2012.

Debt account aversion is costing consumers more

The Federal Reserve reported in 2009 that credit card debt carried by Americans in 2008 was $976 billion. Experian reported in the same year that those that use credit have an average of 5 credit cards per household.

This fascinating study used a game to find out how people pay off debt. It’s a good read…

http://webuser.bus.umich.edu/srick/Winning%20the%20Battle.pdf

Banks Getting Into the Payday Lending Game

Here’s a link to a good article that explains new opportunities that banks may take to keep profits up, as well as what some banked consumers are migrating to– credit unions.

http://www.nashvilleledger.com/editorial/Article.aspx?id=55901

We researched parity bank payday loan products against MSB products and found that they had similar qualities but because of the checking account almost always required, the loan is paid off in the next pay period, off the top. Careful budgeting is required by the person getting the loan to avoid cascading charges of NSFs on checking activity. They were marketed as a last-resort emergency type loan.

Now seeing the article stating that Regions Banks is offering this type of loaning too, we suspect that more will follow.