In addition to changing life as we know it, this COVID-19 pandemic has also reinforced the enormous inequalities in our s...
Food stamps don't work online
In 2019, 38M Americans received food stamps. That's more than 10% of the U.S. population. The way that people shop has changed over time, but food stamps have remained the same. Currently, food stamps only work at limited physical stores and online retailers do not accept them. Millions people in America and Puerto Rico use federal assistance as their main source of food income. All_ebt is creating a way for all of them to access digital economies.
Democratizing digital economies
All_ebt aims to allow food stamp recipients to expand the use of their benefits to any online retailer. This is a big deal because people on Food Stamps only have limited options of where they can online right now.
Built on top of a banking grade card issuing platform, All_ebt is an end-to-end technology layer that enables Food Stamp specific check out processes and blocks the purchase of prohibited items such as alcohol & tobacco. All_ebt will also give traditionally low-income consumers advanced banking tools to help them budget and manage their monthly food stamps.
We believe that technology should help solve real day to day human problems. Access to healthy food and basic financial services should be a priority for technology. Through its relationship with Stripe, All_ebt is certified directly with all major card networks as an issuing processor and will bring support for Apple Pay and Google Pay for the first time to millions of people that have been left out of the digital economy in the US and globally.
A card that allows food stamp recipients to use their benefits online
Upon launch, All_ebt aims to give its users one card that they can use to shop online at any retailer that accepts VISA. In order to sign up, users must have a valid EBT card, mailing address, and pass an ID verification test.
Potential users in all 50 U.S. states and Puerto Rico.
All_ebt aims to give its customers the ability to shop at any online retailer that accepts VISA cards online.
Traction & Growth Strategy:
There are Food Stamp users in every U.S. state and Puerto Rico. This gives us a wide market to target as we plan our launch strategy. Although we have not launched yet, we have a number of users on the waitlist for our product and we aim to continue growing our user base in the coming years.
Potential Users in all 50 states
Planning a pilot program in Los Angeles
Federal Lifeline Program Database outreach (20 million+)
In-person at Social Service Offices
Groundwork laid to pursue pilot programs with major retailers like Instacart.
"A desperately needed service!"
Although we have not launched yet, All_EBT has experienced an outpouring of support from potential customers and other interested parties.
Hear from our supporters:
"Hi, I think what you're doing with All_ebt is so fantastic and is such a desperately needed service! People need this now! So great work!" — Stephanie
"Very important and necessary. So many on assistance are disabled or in areas that make shopping difficult. Crazy that there is nothing in place like this, yet." — Angel
"I'd like to buy groceries online through Amazon, specifically Amazon Prime Now and Amazon Prime Pantry. Finding a way for ebt recipients to pay retailers with systems already in place? Genius." — Billy
"Unique, impactful idea with a visionary founder! All_ebt's solution offers greater access and dignity at a critical moment of a person and family's life while engaging a massive untapped market of online commerce. Get involved in All_ebt continued growth!" — Neetal Parekh , Advisor
"Eli is using this revolutionary technology to make the lives of real people better. " — Jason Ridgen, Host of Podcast Talking Cryptocurrency
"Excited to be a part of the team. Addressing the issue of hunger in America has been my life's work, so I am hopeful that I can support the work that you all are trying to accomplish in a meaningful way." — Jordan Vernoy, Feeding American .org
Monthly subscription fee $4.99 per month
All_ebt plans to charge a monthly subscription fee of $4.99 per month per user.
All_ebt is also testing out other merchant business models and transaction-based models such as a 2.9% transaction fee plus a flat fee of $.30 every time our service is used. *Note all fees will be paid for by the merchant or out of the customer's cash assistance balance. Not their Food Stamp budget which is limited to food items only.
Addressing the needs of over 30M Americans
All_ebt recognizes that low-income Americans are an overlooked group with real purchasing power. In the United States and Puerto Rico, over 30 million people receive food stamp benefits. This translates to $50B+ spent each year. That's over $50B that can't be used at online retailers.
Overlooked by traditional tech innovation
Low-income Americans represent an under-served consumer market with huge purchasing power. Recent venture capital investments into the space such as Andreessen Horowitz & Kleiner Perkins Caufield & Byers $12.8M investment into JoinPropel help validate this market opportunity for us and our investors.
How we measure up:
We believe that access to healthy food and basic financial inclusion are a human right.
All_ebt is building software for the 54 million Americans that live on Food Stamps and are often underserved and overlooked by Silicon Valley technology innovation
All_ebt strives to build technology that serves underrepresented populations and be a leader in the fintech space.
All_ebt strives to become the EBT Cash App for people receiving food assistance and a global on-ramp for cryptocurrencies that want to reach the long tail of low-income consumers in the US and abroad on financial aid.
Y Combinator Hackathon winners and backing from Facebook and more.