The member can create one or more reserved sub-accounts or “purses” within their PayForward account. These can be designated for specific purposes such as health care, savings, charities, schools, vacations, etc.
The member can then transfer funds directly to these purses and/or set up automatic allocations that trigger every time they earn a rebate. The member has complete control over their rebate allocation percentages.
Alternatively, the member can transfer funds and/or automatically allocate a percentage of their rebates to other members’ purses. This feature lends itself to crowd-funding applications and community participation or “family-funding” scenarios.
PayForward can customize the purse structure to reserve accumulated funds for the purchase of products and services from the Enterprise partner. (See Verticals.)