DEMO.com > Point of Wealth Systems, Inc.

Point of Wealth Systems, Inc.

Point of Wealth Register

Profile Information
Company Contact
In The News

Conference: DEMOfall 09
Market Segment: Consumer Devices
Funding Amount: $100,001-$500,000
Funding Round: Angel
Funding Details: All funding provided by founders, family and friends.
Competitors: No direct competitors. Secondary competitors include banking ATM owners.
Product Description: The Point of Wealth Register (POWR) is the first onsite, at-work kiosk that offers financial services to cash-compensated employees. Funds can be electronically allocated to bank accounts, personal investments, bill pay, prepaid Visa cards or IRAs through a secured network. POWR registers are placed in heavily cash-compensated businesses such as bars and restaurants and offer banking and investment opportunities at the moment of maximum cash liquidity.
Market Opportunity: According to the National Restaurant Association there are 945,000 restaurants producing $566 billion in annual revenue. There are 13 million restaurant workers catering to 130 million daily restaurant patrons. The Center for Financial Services and Innovation estimates 47 million working Americans are either unbanked or under banked.
DEMO Says: By some estimates, nearly $50 billion is paid in cash to workers each year, workers who often don't or can't use ordinary bank accounts to pay bills, save, or even purchase through debit or credit cards. Point of Wealth Systems' well-thought out, end-to-end system brings unbanked workers into the digital economy. The system gives financial flexibility to cash-based workers and a new benefit offering to employers who host and service the ATM-like machines. This is a challenging offering, to be sure, but Point of Wealth Systems has put all the right pieces in place to bring the unbanked into the modern economy.

Contact: David Prehn; dave@thepowr.com
Company Address: 920 SW Third Ave.
Portland, OR 97204
Primary Phone: 503-890-3931
Primary Fax: 503-747-7002
URL: www.thepowr.com
Officer One: Doug Lindstrom - CEO & Founder
Officer Two: Mark Dybvig - CFO
Officer Three: David Prehn - Co-Founder
Officer Four: Steve Wilkinson - Co-Founder