Payment Innovation

Question

Payment Innovation

Herbo · Accepted Answer

As a mobile and Internet-based application, Herbo Financial is a consumer, business and government membership-facing portal.
Herbo Financial pre-approves members — consumers, businesses and government — to be member account holders in the Herbo Financial network.
Herbo Financial network members exchange their money (cash, credit card or debit card) for Herbo Financial Credit. Their money is placed in a 100% collateralized account in U.S. banks, and it is exchanged at the rate of $1 = 1 Herbo Financial Credit.
Consumer members use Herbo Financial Credit to pay for services and products. The sales taxes and inventory are recorded, making it easy for businesses to report them. In addition, businesses can even electronically remit taxes where government entities are Herbo Financial members.
As a business member, you can use your Herbo Financial Credit to make purchases, pay vendors and even pay your taxes, to participating government agencies, throughout the Herbo Financial network. When you need to go outside the network, simply redeem or pay bills as needed through a variety of electronic payment options.