New York, NY — January 21, 2021: Paybby, the leading digital bank for the Black and Brown communities, acquires Wicket a digital bank. The acquisition allows Paybby to add to their list of products and services including smart banking and PPP loans targeting the black and brown communities.
“Paybby offers smart banking to the Black and Brown communities. We started by offering a bank account and a better way to expedite their PPP loans,” says Hassan Miah, CEO and founder of Paybby. “Black buying power is projected to grow to $1.8 trillion by 2024. Brown buying power is over $2.0 trillion. Paybby wants to take a good portion of this multi-trillion dollar market and give it back to these communities.”
“We are excited to be part of Paybby,” says Tim Prier, CEO and founder of Wicket. “Starting today, Paybby users can download Wicket iPhone app (Android version coming soon), open a digital checking account and start banking. There is no waitlist or hidden fees.”
Wicket is a smart digital bank personalized for each user. Wicket’s cutting edge Artificial Intelligence and biometric technology adds an extra layer of security using face and voice recognition for a more seamless and secure experience that is personalized to each user.
The Black and Brown communities have been largely excluded from participating in the financial system. Less than 1% of venture capital goes to Black entrepreneurs. The historically long used sign “Non-whites need not apply” is still relevant in venture capital financing and the rest of the world of finance. Existing digital banks have done little for the Black and Brown communities, and Paybby wants to change that.
Aside from the no-fee, better banking opportunity, Paybby’s advantage is its cutting edge, blockchain and AI, “trust engine” that will uncover the complexities of the “banking black box” to improve the minority experience in the banking sector.
Download the Wicket Banking App today at www.wicket.com or at the Apple App store (Android version coming soon).
Paybby is the leading Fintech company for the Black and Brown communities. We seek to advocate for the communities that have systematically not received fair access to financial services. We empower customers by providing better banking, innovative tools to manage finances, and opportunities to break the cycle of poverty and build wealth.
Paybby recently launched the ‘Together We Can’ program to help minority founders process their PPP applications in 15 minutes or less.
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