Stored Value

4thID’s Stored Value platform allows customers to transfer funds to a 4thID-hosted account, which are then used for future IoT transactions. These funds are loaded into stored value accounts via credit/debit cards, ACH, or other supported tender types. The fees applied to laundry and other IoT-based transactions are then used to recover the fees 4thID incurs when Consumers load funds to their stored value accounts.

Funding Stored Value Accounts

A stored value account is funded via a Consumer’s credit card or bank account.

  • Credit and Debit cards are common for funding stored value accounts 
  • ACH is the preferred means of funding stored value accounts due to lower transaction fees
  • Funds are instantly available for spending

Top-Up only

4thID offers a stored value solution to help merchants keep prices low, and therefore only allowsfunds to be withdrawn from stored value accounts by spending on laundry machines and other IoT devices.

  • Top up is the process of loading funds on to stored value accounts
  • It is not possible to transfer funds from stored value accounts to a consumer’s bank account
  • Consumers may only withdraw funds from stored value account by spending on laundry cycles and other IoT devices

Low transaction fees

Stored value accounts allow for low transaction fees as we only incur processing fees during top-up events.  4thID then recovers these top-up fees via low transaction fees to merchants

  • Merchants will charged just 3.25% and $0.02 for each laundry transaction
  • 4thID uses these transaction fees to recover top-up processing fees

Auto-top up

Consumers have the ability to auto-top up their stored value accounts when reaching a minimum threshold

  • Low stored value account balances introduce friction when purchasing laundry cycles
  • 4thID therefore allows a Consumer preference to auto-top up when balance is low
  • Users may define minimum balance and auto-top up amount