Debby: Difference between revisions
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(Created page with "Category PaxPay is an online payment solutions platform that originates in Packilvania. It was founded in 2005 by Sahool Jawer in the city of Kemer which remains its legal home and center of operations. PaxPay facilitates online transactions from e-commerce websites and mobile applications by facilitating communication to and from clearing houses via a centralised and uniform user interface and user identity management system. PaxPay is available as both a mo...") Tags: Mobile edit Mobile web edit Visual edit: Switched |
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[[Category:Packilvania]] [[Category:Companies]]
{{Infobox organization
| native_name = ''Debee'' ([[Packilvanian]])
| logo = Debby.png
| abbreviation = DBB
| named_after = Staynish word "debit"
| formation = {{Start date and age|2007|05|25}}
| founder = Sawool Jawer
| type = For profit publicly traded limited liability company
| headquarters = [[Kemer]], [[Packilvania]]
| services = Mobile and online payments
| leader_title = Chief Executive Officer (''muSharif muBas'')
| leader_name = Shovaal Watham
}}
'''Debby''' is a group of mobile payment services that originated in [[Packilvania]] run by the Debby Group. It was created in Sawool Jawer in 2007. It is owned by the Debby Holdings company and is part of the Debby Group. The Packilvanian Financial Regulatory Board gave formal approval for the company in 2008. It was first traded on the Bingol Stock Exchange in 2014. Two years later it launched on the Auroran Stock Exchange in [[Kirib]]-denominated stocks. Debby is a "nickname" of the [[Staynish]] word "debit".
Debby started as an online payment portal whereby individuals would load their card data. Users would use their Debby account to make payments. Debby would contact the user's bank and ask them to deposit the money to the vendor's account. The service was convenient because users did not need to load their card information on websites directly. This was especially attractive to many people who were using online payments for the first time and did not trust online commerce websites.
Debby developed a mobile application that allows the user to scan the vendor's QR code to pay to make a purchase. The Debby mobile application was given additional features which allowed users to send money to each other by making requests to their respective banks to transfer money between their accounts. Debby launched overseas and aimed to cut the fees paid by users for international transactions. What Debby did was set up accounts in foreign banks in which they maintained liquidity. Users no longer needed to have bank accounts of their own. They could load money directly to Debby which in turn pays money to other users. This enables people to manage transactions without having bank accounts.
In 2019, the Packilvanian Banking Association issued a formal complaint against Debby to the Packilvanian Financial Regulatory Board as they felt that they were assuming all of the financial risk for the transactions that were being done on the Debby platform. Furthermore, they complained that Debby was depriving them of the income they would generate from having clients deposit funds directly into their coffers. Some banks issued a counter proposal, stating that Debby was pooling the financial risks that would arise from individual users. This conflict among the banks gave rise to a ruling by the Financial Regulatory Board stating that the government would make requests for Debby to maintain minimum reserves.
Despite the initial scare among investors, confidence in the company resumed especially as the ability of the company to meet its payment commitments improved due to the minimum liquidity requirements. Just like [[Buddy]], there are two versions of the mobile and online Web platforms used by the users. Users in [[Packilvania]] use a version of their applications whose data is held and processed in [[Packilvania]] while the version used overseas stores data in [[South Hills]] and [[Great Morstaybishlia]] under a subsidiary Seated in [[Fort Jubrayn]], [[Staynes]], [[Great Morstaybishlia]]. According to the [[Law of Packilvania]], user data from and in Packilvania can be required by the law enforcement and [[intelligence agencies of Packilvania]] as per the [[surveillance and censorship in Packilvania]]. PlexisCards from [[Plexis]] can be loaded onto the Debby platform.
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