Cyphermint Exhibits at NAHRO Conference 2005 in Chicago
October 17, 2005, Marlborough, Massachusetts-Cyphermint, Inc., a leading provider of Global Electronic Cash Payment and e-commerce infrastructure/integration solutions, exhibited at the NAHRO 2005 National Conference and Exhibition-"The Winds of Change".
Over 2000 attendees were present at this year's event that took place in Chicago October 9-11, 2005. The conference, sponsored by the National Association of Housing and Redevelopment Officials (NAHRO), hosted the event at the Hyatt Regency in downtown Chicago and provided an opportunity for housing and community development policy makers and practitioners to network with experts in the industry. Cyphermint as Diamond Sponsor exhibited and introduced the PayCash Visa Debit Rent Card Program (PRCP) to the attending housing authority directors and delegates.
Cyphermint also conducted a session at the conference entitled "Automated Rent Payments: How to Create Efficiencies in Rent Collection" that detailed to the conference delegates the PayCash Rent Card Program's benefits and features. Joe Barboza, President and CEO of Cyphermint, lead the discussion to a full-house audience.
The PayCash Visa Rent Card Program will provide Housing Authority residents, who may not qualify for credit or checking accounts, a flexible and secure cashless payment option to pay their rent and utility bills. Another function of the program will enable the housing authorities to collect rent payments from their residents electronically via direct deposit. This program will also allow residents to shop online, buy goods on layaway and pay their bills online along with other financial services that are often not available to them. The program is unique and beneficial for residents, as the PayCash NOW Card will be offered to them without activation or annual fees. Additionally, set-up for the rent card program is free for Housing Authorities and promises to streamline their rent collection process.
The PayCash Rent Card Program since being inducted in July of 2005, has already been implemented in the housing authorities at Palatka, FL; Fort Pierce, FL and Providence, RI. The program, also available to section 8, waiting list and housing authority employees, and will ultimately be available to over 16 million consumers.
Presenting the "PayCash Rent Program" and explaining the benefits for the housing authorities and their recipients was a great opportunity for us. This is an important program for everyone because it reduces the operating costs for the housing authorities and provides their recipients with the ability to shop on line, travel, pay bills, cash checks, invest and conduct their lives as everyday consumers. Many of the directors attending the NAHRO conference gave us their overwhelming support and wanted to start as soon as possible . We left Chicago with a long list of cities, towns and housing authorities ready to start enrollment in their areas because they clearly see the financial advantages for them and their recipients" said Joe Barboza, President and CEO of Cyphermint.
About Cyphermint
Cyphermint
Headquartered in Marlborough, Mass., Cyphermint is a provider of Global Electronic Cash Payment and e-commerce infrastructure/integration solutions. Cyphermint's core technology, PayCash(TM) is a highly secure, highly scalable financial software system for Internet Payment Systems for B2C e-commerce and for Web-enabled self-service merchandising systems for kiosks. The PayCash Visa Rent Card Program, provides Housing Authority residents, who may not qualify for credit or checking accounts, with a PayCash NOW(TM) Visa® Debit Card, a flexible and secure cashless payment option. Residents will use this card to pay their rent, utilities and pay for discounted program benefits without the use of a major credit card, checking account or cash. The PayCash Visa Rent Card Program integrates seamlessly with the Housing Authorities rent collection infrastructure and debits rent automatically without additional cost to the Housing Authorities.
About NAHRO
The National Association of Housing and Redevelopment Officials (NAHRO) is the leading housing and community development advocate for the provision of adequate and affordable housing and strong, viable communities for all Americans-particularly those with low- and moderate-incomes. Our members administer HUD programs such as Public Housing, Section 8, CDBG and HOME.
