To kick off their launch, payd is giving away a year of free tuition for students
BURLINGTON, ON, CANADA, Sept 21, 2021 – Canadian Fintech payd announces the launch of payd-app beta, Canada’s first mobile app that helps students and families save and pay for post-secondary education.
To celebrate the launch, payd is giving away a full year of tuition up to $10,000 CAD, every month for the remainder of the year for select students who download the app and set up their profile. Students who download the app in 2021 will have the chance to get their tuition covered by payd
Payd uses a unique approach to address the student debt crisis with the help of an easy-to-use app that makes saving money simple. Connected with all major Canadian banks and credit union payment cards, payd-app beta, allows students to automate savings, earn cashback on purchases, crowdsource personal contributions from family, and leverage investment tools to relieve the financial burden that comes with paying for an education.
By using a first-of-its-kind cardlinking technology, students can easily upload their bank card, set their rounding goals, and leave it to payd to do the heavy lifting. Payd’s solution provides users with a single sign-on, eliminating third party banking apps that require account credentials.
“At payd, our mission is to ensure students don’t graduate with large amounts of debt looming over them. There is over $30 billion of student debt in Canada and it takes the average student 10 years to pay off a $30,000 loan – students can’t get ahead with those stats. We created payd to help the next generation get ahead and to make saving for their education effortless. We
want to be Canada’s first generational savings tool for education, we help students get out of debt, and then help them pay for their kids’ education next!” – Jonathan Hillis, Founder and CEO
Payd has been recently featured as one of the top startups to watch out for in 2021, a finalist in the Innovation Factory Lion’s Lair Competition and was recently accepted into one of the top incubator programs in North America – the DMZ.
“Student debt holds the Canadian economy back in countless ways. The DMZ is thrilled to be supporting payd as they revolutionize the future of post-secondary student debt by helping future generations save and invest their money. Huge potential lies ahead for payd, and I can’t wait to see what’s in store for them next.” – Abdullah Snobar, Executive Director of the DMZ
“We are excited to see how much of a difference payd will make for students in the coming months and years with the launch of their app. As a finalist in the Lions Lair 2021 pitch competition, Innovation Factory was proud to support payd as they grew and prepared for this launch. There is no doubt we all want to see a future where post secondary students manage to graduate without mountains of debt.” – Shannon Graszat, Client Services Manager, Innovation Factory
Payd is focusing its launch efforts in Southwestern Ontario at major colleges and universities and has helped create the first on-campus loyalty program at St.Clair College.
“We are very excited to be partnering with payd to help students save money while still being able to afford on campus amenities is a great outcome for everyone.” – Ryan Peebles, General Manager, St.Clair Student Representative Council
Full details about payd and the $10,000 tuition prize giveaways, can be found at paydapp.ca and on their social channels Instagram, Facebook, Linkedin, Twitter and Tik Tok.
Watch how the payd mobile app works here.
payd is a tool to help students pay off their debt while still in school. Grads get out of debt faster without breaking the bank, and parents save for their child’s education. Our round-up savings, cash-back rewards, investment tools, and crowdsourcing program make saving and paying off student loans easier.