(New York, NY) May 10, 2019 — Looking to expand the boundaries of online shopping and money exchange, Passfeed has consistently sought to capitalize on consumer frustrations while shopping on conventional websites. The dream is simple: people should be able to shop, save and share deals without having to deal with credit cards or pay banking fees. Along with a robust shopping experience, Passfeed’s ever expanding offerings include virtual debit cards, gift certificates with merchants like Best Buy, Macy’s and Starbucks, ETF’s and even exclusive incentive cards.

Passfeed, “Your Social Shopping App,” has now added a new title to its repertoire: MSB. Passfeed announced Friday that it has registered with the US Securities and Exchange Commission (SEC) to become a Money Service Business (MSB). This distinction will allow Passfeed customers another option to borrow money outside the traditional banking system.

“MSB” is used to describe businesses that transmit or convert any currency. Passfeed registered as an MSB since their digital wallet was primed to also offer banking services to those who may not have access to traditional banking methods, or don’t want to use a bank for their financial needs. Currently, customers can link their debit card to the Passfeed App to pay for any of the 1.5 million items available for purchase.

Passfeed’s marketing director, Dennis Sary, was elated once the registration with the SEC was complete.

“Passfeed will be a customer’s go-to for processing and transferring their payments. It will be a bank in their pocket,” Sary said.

About Passfeed

Passfeed was founded in 2016 by Richard Wang, a start-up entrepreneur with several well-timed exits. Influenced by the business models of Wish.com, Amazon and Aliexpress this upstart start-up provides an exciting shopping experience uniquely paired with a robust digital wallet.. Users are able to choose from over 1.5 million of the most trendy fashions, incredible household gifts and even electronics. Building on the social nature of online shopping, consumers can shop, save and earn Rewards and iPoints just sharing with friends and relatives - all within the user friendly App.

You can learn more about Passfeed by clicking on the website link here or downloading the App for free here on your Android or iOS device.

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If you would like more information about this topic, please call: Dennis Sary, Marketing Director at (929) 332-2099, or email at [email protected].