Credit card

Fyncr unveils credit card bill payment app

Fyncr released what it calls “the first all-in-one mobile card bill payment app” in the United States on Thursday, February 10, noting in the company’s announcement that it aims to help people manage their credit cards and save more money and spend smarter.

In the ad, Fyncr bills itself as “the only platform that allows every credit card owner to securely store, view, and pay for all of their credit cards from any bank account.” Additionally, users can earn reward points, called FYX, and access deals, discounts, and free items from over 500 brands within the app.

With Fyncr’s automated payment system, customers don’t need to use different banking apps to pay their credit card bills on time, which will boost their credit score and ease their financial burdens.

Fyncr draws on experts from Accenture, Dell, Publicis and others to distill technology and FinTech wisdom. The company has raised $3 million from entrepreneurs, angel investors and small investment firm owners, the statement said, and the app has been downloaded more than 20,000 times since its release two years ago. month.

“We aim to revolutionize the bill paying experience and turn it into a rewarding one, giving customers the financial freedom to do the things they care about,” said Fyncr Founder and CEO Sahil Kumar , in the announcement. “The idea is to change the culture of late payments and fees, credit rating depletion and the hassle of paying bills.

“We also believe we have a social responsibility to reduce the credit card debt that haunts the US market, by motivating users to pay off early, pay more, and enjoy more rewards.”

Meanwhile, Bank of America’s 67 million consumer customers made $335 billion in total payments in January, up 17% from January 2021 and the second-highest spending month on record.

Related: Bank of America Consumer Payments up 17% in January to $335 billion

BofA consumers made a record $3.8 trillion in payments in 2021, up 24% from 2019, marking a record four consecutive quarters of payments over $1 trillion. The 2021 total was highlighted by record spending during the holiday shopping season in November and December.

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