WALLET

My Friendly Pay is a Stored Value Digital Wallet

Stored Value Digital Wallets are similar to prepaid accounts. Consumers pre-load the My Friendly Pay wallet with funds using a debit or credit card, and the funds can be used for transactions with sellers connected to the My Friendly Pay digital wallet platform.

Key Features

  • Consumers load funds into the wallet before making purchases.
  • Funds are held within the wallet’s internal ledger until used.
  • The wallet operates within its own proprietary system for accepting payments.

Examples: Think of it as a private PayPal or certain e-wallets where funds are pre-loaded and stored until they are used for a transaction.

We are required to comply with Visa and MasterCard account funding rules. When loading funds using a credit or debit card, the transaction must be processed as an Account Funding Transaction, and the wallet must maintain an acquirer within the same country. Funds can only be sent into the ecosystem once a consumer requests to transfer.

Security Process

We allow max loading up to $450 per load and $999.99 total per day

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Valid phone number

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RTP Code sent to phone for confirmation
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ID is verified to match the credit or debit card account
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ID is verified to be at least 21 years of age
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Load amount is sent via to confirm amount
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Digital receipt is sent to phone