The company believes gig-economy, competition and consumers’ desire for instant consumption will drive the need for ‘streaming’ micro-payments.
A few months ago Lerex CEO, Richard Ney, published an article (link here) about his belief that areas like media consumption will in future benefit from offering “pay-as-you-read” options alongside, or instead of, fixed time subscriptions.
Similarly, Ney pointed out the anachronism that, in the era of the gig economy, most of us have to wait from one month to the next to get paid for our work.
Up to now, the fact that we don’t pay for our newspaper “as we read” or get paid for our work “per delivery” or “per ride” has been a factor of constraining technology. No longer.
Today, Lerex Technology is proud to announce that its payment platform is the first platform worldwide to support the streaming of money. In the same way as music or movies can be streamed, Lerex’s payments technology now allows for money streams to be set-up.
“With the acceleration of the gig economy and the constant innovations in the way money is earnt and exchanged, we felt that Lerex had to support this innovation and go beyond the current solutions available” said Ney. “Money streaming is simply the next step in the evolution of fintech and we are proud to be the first platform in the world to be supporting it”.
The feature, available immediately to new and current Lerex customers, permits streams of money to be set up and controlled. Whilst a stream is active, funds are pushed out in real-time allowing users to earn money, literally, as they work.
Money streams can also be used to collect money from users, which will enable providers to offer greater flexibility with their pricing options. Online publications, software subscriptions or streaming services providers will now be able to collect fees as their users consume their services.
About Lerex Technology
Lerex Technology was founded as a card company in 2017. In early 2020 the company became a B2B payment solutions provider; supplying full end to end infrastructure and support for corporate clients wishing to go to market with their own prepaid payment solutions and digital accounts.
Lerex is a great example of a dynamic fintech leading the way in the UK market; using innovation and technology to provide valuable technical infrastructure to new entrants to the payments arena.
Press enquires: Emma Anderson For further info: emma@lerextech.com www.lerextech.com