Sekurus International’s SekurPay™ Finance Solutions provides the means for credit unions and banks in solving bad credit problems by making it possible for a vehicle buyer to purchase a car, truck or any other vehicle even though the buyer has a history of slow credit, repossession or bankruptcy. SekurPay™ Finance Solutions has a variety of solutions designed to fit the needs of any franchise dealership, independent dealership or finance company whose goal is to protect their assets. Through the proven SekurPay™ payment protection device, the solution assists the vehicle owner in changing their payment behaviour.

The SekurPay™ Finance Solutions solution are flexible, legal payment protection solutions that may use telematics technology to turn credit challenged prospects into paying customers. SekurPay™ reminds the vehicle operator when payments are due or it will disable the vehicle if the loan payments are not made on time.

SekurPay™ Finance Solutions are the most economical and powerful Payment Protection Solutions and stand-alone mobile tracking devices available today using telematics technology. Telematics is the blending of computers and wireless telecommunications technologies, ostensibly with the goal of efficiently conveying information over vast networks to improve a host of business functions. Utilising GSM/GPRS, TCP & UDP IP and CSD communication together with GPS technology, SekurPay™ Finance Solutions provides comprehensive payment protection and asset security facilities to the loan financer.

Sekurpay™ Finance Solutions core functionality and business benefits add a layer of flexibility to those organizations where payments are required to be managed in a more flexible manner. This enhancement offers the flowing key benefits to such organizations in terms of flexible contract management and installation procedures:

• Simplifies the management of contracts
• No “catch up codes” required
• Handle Bankruptcy cases
• Handle changing consumer credit laws.
• Enable banks to provision and control units.
• Simplifies pre-installation
• Reduce support requirements

SekurPay™ Finance Solutions allow the company to accept partial payments and release codes for proportionate periods. Thus in cases where a client wishes to pay half of the scheduled installment it is possible to release a code which would enable the vehicle for half of the payment cycle.

SekurPay™ Finance Solutions makes it possible to change a number of contract parameters without reprogramming the device. It also facilitates the extension of an existing contract or creation of a sub contract without reprogramming the device, thus eliminating the need for additional codes. SekurPay™ Finance Solutions allows changes to the following without reprogramming:

• Number of installments
• Installment date
• Amount of Installment