User:Ericksonv/sandbox

Vogogo is an easy way to access and utilize electronic payment services. The web-based service provides users with multiple online payment options giving them the flexibility to choose the payment method that best suits their needs. The secure online payment platform offers options including credit card, electronic bill payment, peer-to-peer, and direct debit (called eCheck) transfers for individuals, businesses, landlords and more. Vogogo does not require technical expertise to use and is free to sign-up.

Creation
Vogogo was founded by Geoff Gordon and Stan Carney in 2008 in Calgary, Alberta, Canada. The company also has a second office in Palo Alto, California. The service was conceptualized based on market need. After developing software for the online payment industry for many years, founders Gordon and Carney saw a need to develop a more efficient online payment gateway. With Vogogo, the goal was to make electronic payments very easy to access and utilize. It's completely web-based and the only requirement for users is that they have an active bank account and a computer, tablet or smartphone with Internet access. Vogogo is wholly owned by Redfall Technologies Inc. and is registered under Redfall Technologies Inc. with FINTRAC.

Funding
The company was initially boot strapped off of revenues from the parent company Redfall Technologies Inc. Vogogo is currently going through a funding round.

Users
Vogogo is for everyone; anyone who collects or sends payment can use this payment processor quickly and easily. Vogogo’s primary users are business owners, landlords and parents/caregivers. Vogogo’s primary users spend a lot of time online reading articles, banking, shopping, downloading music and now, collecting payment. Business owners can collect payment for their goods or services with just a few clicks and can easily track invoices and transact refunds.

Landlords can sign up tenants with nothing more than a cheque. If both the tenant and the landlord are signed up for the service, transactions are free, can be automated, and are easily tracked.

Parents make up one of the last groups who still write hundreds of cheques to pay for childcare, extra-curricular activities, school fees and more. Vogogo offers a safer, faster and more convenient option to replace these clunky cheque transactions.

Vogogo Advantage
Vogogo is one of few online payment merchants providing a secure, convenient, online payment service that boasts low fees, easy-to-use interface and multiple payment options where users can get started in just a few clicks of their mouse.

Business Model
Vogogo does not charge sign-up or monthly usage fees and users can transfer funds among each other for free. Transaction fees for eCheck (direct debit or electronic funds transfer) and online bill payments are just $.99 per transaction, while credit card transactions cost users $.25 plus 2.2% of the total transacted amount.

Users can automate payment, set up multiple payees, track invoices and process refunds with Vogogo. The interface can also be easily integrated for free onto online stores for simple, convenient and secure online payment.

Fintrac
Vogogo is classified as a financial intermediary service provider and falls into the Money Service Business (MSB) sector with respect to Anti Money Laundering and Counter Terrorist Financing (AML-CTF) compliance management. Financial Transaction Reports Analysis Centre of Canada (FINTRAC) provides regulatory oversight to the MSB industry and as such Vogogo is registered with FINTRAC. Vogogo has established and maintains an AML-CTF compliance regime that meets or exceeds all the requirements under Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Vogogo supports and encourages the efforts of FINTRAC to mitigate money laundering and terrorist financing within Canada.

Proprietary Encryption
Encryption is the process of transforming data using an algorithm to make data unreadable except to those possessing the decryption key. This is the basic explanation of the proprietary encryption technology Vogogo utilizes to keep your data private and secure. Vogogo does not use third party encryption technology. The company builds its own encryption technology in order to ensure absolute algorithm and decryption key privacy and data integrity.

PCI DSS Compliant
Vogogo is a Payment Card Industry Data Security Standard (PCI DSS) compliant card processor. Using Vogogo for payment processing needs also makes users PCI DSS compliant which is a requirement for everyone accepting credit cards for payment. The Payment Card Industry Data Security Standard is an information security standard for organizations that handle cardholder information for the major debit, credit, prepaid, e-purse, ATM, and POS cards. Defined by the Payment Card Industry Security Standards Council, the standard was created to increase controls around cardholder data to reduce credit card fraud via card data exposure. Validation of compliance is done annually by an external Qualified Security Assessor (QSA) for organizations handling large volumes of transactions.

Third Party Verified
Vogogo has been verified and approved by industry leading trust and security providers such as Entrust.

Operations
Vogogo employs a core group of 15 people. The organization is run by the three C-level executives and includes the development team, customer care, accounting, finance and marketing people.

Redfall Technologies
Redfall Technologies is a software and technology company whose approach to creating software goes beyond the numbers and head-on into helping people and companies function better. They have a committed focus toward creating solutions that simplify and liberate. Redfall is built on a foundation of innovation, creativity and forward thinking. It's a special group of talented individuals dedicated to providing real solutions for a complicated world.

FINTRAC
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Canada's financial intelligence unit, was created in 2000. It is an independent agency, reporting to the Minister of Finance, who is accountable to Parliament for the activities of the Centre. It was established and operates within the ambit of the Proceeds of Crime (money Laundering) and Terrorist Financing Act (PCMLTFA) and its Regulations.

FINTRAC's mandate is to facilitate the detection, prevention and deterrence of money laundering and terrorist activity financing, while ensuring the protection of personal information under its control.

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Canada's financial intelligence unit, was created in 2000. It is an independent agency, reporting to the Minister of Finance, who is accountable to Parliament for the activities of the Centre. It was established and operates within the ambit of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its Regulations. FINTRAC's mandate is to facilitate the detection, prevention and deterrence of money laundering and terrorist activity financing, while ensuring the protection of personal information under its control.

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Canada's financial intelligence unit, was created in 2000. It is an independent agency, reporting to the Minister of Finance, who is accountable to Canadian Parliament for the activities of the Centre. It was established and operates within the ambit of the Proceeds of Crime (money Laundering) and Terrorist Financing Act (PCMLTFA) and its Regulations.

FINTRAC's mandate is to facilitate the detection, prevention and deterrence of money laundering and terrorist activity financing, while ensuring the protection of personal information under its control.