ChowBanQ eyeing IPO with its platform of trading and making payments between buckets

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Jan 03, 2024, 09:00 ET

MANHATTAN, N.Y., Jan. 3, 2024 /PRNewswire/ -- ChowBanQ, a fintech and a committed green bank, is contemplating going public with its unique platform of trading and making payments as transfers between buckets.

The fact that every single one of its online banking account is a bucket, or let's say a depository that could be used for making payments for goods and services between accounts or in some instances between banks, is one of it's main assets.

These individual buckets - once depleted, could be filled and refilled to account holders delight. You can also place your bucket on an interest generating term deposit or a savings list and watch your bucket content earn interest at five times more than the average national savings.

Benefit to a merchant, a contractor or an individual buyer of goods and services are inherently greater because trading between buckets will remove card fees, cut down on high exchange rates, protect your identity without the need for constant card tokenization issuance every time a transaction takes place. It also makes it possible to check and verify that the buyer has enough money in the bucket to cover requests, and that the buyer or the seller is indeed an existing entity and a real person.

These process could all be initiated via a simple messaging and a proof of sale file upload to ChowBanQ's internal messaging system by account holders on the go, and the bank's uniquely tailored software by NexorOne will take care of the rest.

SOURCE ChowBanQ