Mobile financing app hits $1B milestone

Handle Financial has announced that more than $1 billion dollars in bills have been paid through Prism, its popular mobile app dedicated to helping consumers take control of their finances. The milestone comes as Prism’s biller network continues to expand. As a financial management tool that allows users to automate tracking bills and account balances, enable mobile reminders for due dates, and make free bill payments, Prism’s user base grew substantially in the last year.

The platform enables users to pay supported billers with credit or debit cards, even if those billers don’t provide that option themselves. For example, certain types of bills, such as auto loans or utilities, often cannot be paid with a card. Many billers only accept payments directly from a bank account. Prism’s new payment options work behind the scenes to convert card payments to ACH. For a small fee, Prism users can pay any bill via methods that aren’t typically available to consumers, giving them greater flexibility.

The average American juggles 9.8 bills every month, and for many, it’s a complicated, tedious task. Prism simplifies this process by compiling real-time bill information in an easy-to-navigate, centralized app. Users can link bills within Prism to automatically receive up-to-date bill totals organized by due dates, and then select from multiple payment options, like credit, debit, prepaid cards, or bank accounts.

Based on its early success, Prism plans to add other payment options such as cash payments, social money apps, and third-party wallets. Prism also plans to increase the number of billers that users can link to and pay within the app.

“Financial stress is one of the biggest issues families and individuals face. We created Prism to help them easily manage their finances and stay in control of bills at all times so that they can reduce or eliminate this stress once and for all,” said Richard Kang, Senior Vice President of Consumer Channel, Handle Financial. “Consumers have wholeheartedly embraced Prism and the power it gives them, as we’ve experienced through its widespread adoption. We look forward to helping even more users get ahead in 2018.”