Today, Dan Bongino announced the launch of his new Payment Processing service, ParallelEconomy.com. In this article, I will break down what ParallelEconomy.com is and how you can join it in 10 minutes or less.
- What is ParallelEconomy.com?
- How to Sign up for ParallelEconomy.com
- Personal Information Needed to Sign Up for ParallelEconomy.com
- Business Information Need to Sign Up for ParallelEconomy.com
- Questions to Prove Your Identity to Sign Up for ParallelEconomy.com
- ParallelEconomy.com Rates Fees Terms & Conditions
- Receive an Encrypted Completion Email from ParallelEconomy.com
- Frequently Asked Questions
What is ParallelEconomy.com?
As someone who recently wrote an article about Align Pay, a previous Dan Bongino-backed Payment Processing service, I was understandably confused as to why he was launching a new service and what the difference between the two services would be. However, after listening to today’s show, I discovered that Dan Bongino has “moved on from AlignPay.” Dan says that there is no ill will between him and AlignPay, but that he wanted a new partner that he felt “could grow his business.”
Dan took what he learned in payment processing and he and his partners have moved on to a partnership with Rumble.com. According to Dan, they are building an entire ecosystem. I would argue that Dan’s prior endeavors up to and including this one represent a strong start to that ecosystem.
According to Dan, this new payment processing solution is “cancel culture resistant.” Additionally, in a press release, Rumble announced that it “has taken a stake in Parallel Economy, a transformative payment processing company. Rumble’s investment in Parallel Economy furthers the company’s mission to build the rails and independent infrastructure for a digital economy immune from cancel culture.”
How to Sign up for ParallelEconomy.com
Signing up for ParallelEconomy.com is very simple. However, it requires a good bit of information that you will need to acquire ahead of time. The first step in signing up is to click the “APPLY NOW” button on the ParallelEconomy.com homepage. Or you can just Click Here. Either way, you should get to where you need to be.
Personal Information Needed to Sign Up for ParallelEconomy.com
There is a decent amount of personal information that you will need to gather in order to sign up for ParallelEconomy.com. I went ahead and grabbed a screenshot of it, but I am going to list it here for you as well. I’m also including the tool tip text (the info from the little “i” icons that you have to hover over to read) since it can be a bit hard to get to for some folks.
- Legal First Name – Your first name as listed on your government ID (Driver License, Passport).
- Legal Full Middle Name – Your full middle name as listed on your government ID (Driver License, Passport).
- Legal Last Name – Your last name as listed on your government ID (Driver License, Passport).
- Title – Your given title at your company (e.g., Business Manager, Treasurer, CEO).
- Date of Birth
- Social Security Number
- Ownership Percentage – How much of this business do you personally own?
- Residence Address – Your home Address.
- City – Your home address City.
- State – Your home address State.
- Zip Code – Your home address Zip Code.
I will note that in Dan Bongino’s Locals.com announcement, there were a number of people questioning why they had to enter a Social Security number and deciding against doing so. To that, I should point out that any payment processing solution you sign up with is probably going to ask for the same information. When I signed up for AlignPay, they did the same thing. This is not something that is out of the ordinary and in order to set up the account, they are going to require this information.
Business Information Need to Sign Up for ParallelEconomy.com
In addition to the personal information, there are a number of business-related pieces of information you will need to gather in order to set up your account. Again, I will include a list for you and a screenshot.
- Legal Name – If Sole Proprietor, enter your full name as listed on your government ID (Driver’s License, Passport, etc.). If you have a registered entity (LLC, Corp, etc.), enter the name as registered with your state and the IRS.
- Business DBA Name – This is the name that you want to appear on your customer’s credit card statement. It will identify who they purchased from.
- Physical Street Address – Your company’s physical address (no PO Boxes).
- City – Your company’s physical address City.
- State – Your company’s physical address State.
- Zip Code – Your company’s physical address Zip Code.
- Website Address – Your company’s web URL.
- Goods Sold – This is a dropdown list where you can choose the type of industry your company is in.
- Federal Tax ID (EIN) – This is your Tax Identification Number issued by the IRS. It will consist of 9 digits. If Sole Proprietor, enter your social security number.
- DBA Phone – Company Phone Number.
- Corporate Email – Company Email Address.
- Years Owned – Number of years you have owned the business.
- Type of Ownership – Sole Proprietorship, LLC, Corporation, etc.
- Largest Single Transaction Amount Expected – What is the highest amount you would process in a single credit card transaction? (Numbers only.)
- Largest Monthly Volume Expected – What is the highest amount you would process in credit card transactions in one month? (Numbers only.)
- Bank ACH Routing Number – Your bank routing number is a nine digit code. It is typically the first set of numbers printed on the bottom left side of your check.
- Bank ACH Account Number – The bank account you would like your payments deposited to and fees debited from. Typically the second set of numbers printed on the bottom of your check.
Questions to Prove Your Identity to Sign Up for ParallelEconomy.com
As a final step to signing up for ParallelEconomy.com, you have to answer a series of questions about yourself to prove you are who you say you are. These appear to be questions that generally only the person making the application would know. I am going to include a screenshot of the questions that I was asked. Hopefully you’ll understand that I had to remove my personal information from this page, which is why you’ll see some blank answers. Just be aware that there will be incorrect answers and you have to pick the correct ones. If there are no correct answers, you’ll choose “NONE OF THE ABOVE/DOES NOT APPLY”.
ParallelEconomy.com Rates Fees Terms & Conditions
Upon submitting your information to ParallelEconomy.com, you will have to review and approve their Rates, Fees Terms and Conditions. There is a bit of reading you need to do here, but it shouldn’t take too long. Here is a screenshot:
They also recommend that you download the Merchant Application and Agreement as a PDF. I downloaded mine. You should, also. Once you check all of the boxes and click the yellow “Accept” button, you will be taken to the Thank You Page.
On this page, you get one more chance to “Download the Merchant Application & Agreement.” If you hit the “Parallel Economy” button, it will take you right back to the homepage. At this point you are done.
Receive an Encrypted Completion Email from ParallelEconomy.com
You should receive an email in your inbox thanking you for submitting your signed merchant agreement. My email came from (application@firstonboard.net). It was actually an encrypted message, which made me feel a bit more secure in the notion that they are actually taking my data security seriously. All in all, the process took me approximately 10 minutes of actual data input. Obviously, I spent a little longer than that gathering all this information for all of you, but it really isn’t that hard to sign up.
Frequently Asked Questions
What is ParallelEconomy.com?
ParallelEconomy.com is a censor-resistant payment processing company launched by Dan Bongino, along with Jeffrey Wernick and Rumble.com.
When was ParallelEconomy.com launched?
ParallelEconomy.com was launched on January 18, 2022.
What’s the difference between ParallelEconomy.com and AlignPay?
In his show on January 18, 2022, Dan Bongino said that he had moved on from AlignPay. He said, however, that there is no ill will between them, but that he needed another partner to help his business grow.
Why does ParallelEconomy.com require my Social Security Number?
Merchant Services Providers are mandated by the federal government to request Social Security Numbers in order to verify applicant identities and prevent illicit activities.
Is ParallelEconomy.com a Bank?
No, ParallelEconomy.com is not a bank. ParallelEconomy.com is a censor-resistant payment processing platform.
Is ParallelEconomy.com a Credit Card?
No, ParallelEconomy.com is not a credit card. ParallelEconomy.com is a censor-resistant payment processing platform.
Why is my browser giving me warnings when I try to visit ParallelEconomy.com?
Some people have reported receiving warnings from their browser when trying to visit ParallelEconomy.com. If this occurs, you should probably try a different browser or check your security settings.
If you appreciated this article and would like to support the work I am doing here, please consider becoming one of my Patrons. I am Noah Davis, creator of SanctuaryCounties.com. Parallel Economies is my brand new website. Please click here to join the Sanctuary Counties Patreon and support the creation of more content like this. Thank you so much and God Bless America!
I posted this as a supporter of Dan Bongino’s. “I like the idea behind Parallel Economy but very concerned about Jeffrey Wernick, an major AirBnB and Uber investor involvement. I quit AirBnB a few years back when after eight years of hosting five properties they asked for a copy of my passport to verify my identity and at the time they would accept nothing else. They amended their ID policy back in October 2020 to include other means of id, but the remaining scariest part is they retain copies of all ID’s FOREVER and they share it with Facebook and Google whether or not you have an account with either.” I simple want an answer and I cannot find whether or not my data will be shared and with whom. P.E. is asking for sensitive information, as do all other payment sites I use but found too late that the information I gave is being shared across joint owned/linked platforms, for example; Square to Facebook to Instagram. What kind of guarantee or assurance, if any, does Parallel Economy offer? Also if they seriously want to compete with the big guys they are going to have eliminate the monthly fee and early termination fee.
Terri,
These are all great points! It would be great to get Dan Bongino to comment on if they share data with any other companies. Another good question would be how they secure the data they collect. If I hear Dan remark on either of those things (or any other related matter) I’ll update the article.
Thank you so much for your feedback!
I second those comments to the letter. Hopefully Dan will read the comments and address them. I’m also concerned as to what P.E. would be willing to turn over to the government if asked for client data and would it at least entertain a challenge to that kind of request from the feds.
Great questions, Nelson! I don’t know if Dan reads the comments section here, but if he ever does address those issues, I’ll be sure to update the article. I hope you have a wonderful day!
I own a small retail store. I would definitely jump ship and use this for credit card transactions. But I need to know if and how it works with credit card readers, and if a card reader is available.
Kysa, great question! I just checked the FAQ, and it says the following about card readers:
What equipment will I need?
The Parallel Economy and our partners can provide a credit card processing terminal that is EMV and NFC capable to accept face to face and/or mobile payments like Apple Pay and Samsung Pay. This terminal will work with our software to be able to process in person payments. You won’t need any additional hardware.
Here’s a link to the FAQ:
https://www.paralleleconomy.com/faq/
I hope this helps!
ND, not to rain on the parade but VISA, & possibly other credit cards, are starting to track people (e.g., gun purchases). It’s only a matter of time before these credit card companies start declining purchases. If we don’t come up with payment approaches that completely by-passes the banks, credit unions, & credit card companies, this isn’t going to end well.
MAGA/SA!
I agree with you! Sadly, this article was written prior to all this special codes for gun purchases nonsense… Honestly, the only payment approach that bypasses all the entrenched powers is crypto. Specifically, Bitcoin. I can’t tell you what to do, but I don’t know of any other viable options. There’s one other viable cryptocurrency that I know of, and am rather interested in called Carbon12. https://carbon12.co/. It’s a cryptocurrency for Christians.
Huh, still no response?
Bob,
I’m sorry, but it appears that I didn’t get your initial question. We recently did a refresh to the website so that we could add a business directory. When the update went live, it may have overwritten your question. I’m terribly sorry for the confusion, but if you could ask the question one more time, I will definitely answer it for you.
[…] things. The culture needs to be retaken. Institutions need to be recaptured — or routes around them […]
[…] fix things. The culture needs to be retaken. Institutions need to be recaptured — or routes around them […]
[…] A calamitous, destructive, painful descent is happening before our eyes. We’re witnesses to history — but the imperative is to be actors against what we’re witnessing. Winning elections, though critical, won’t alone fix things. The culture needs to be retaken. Institutions need to be recaptured — or routes around them created. […]
[…] things. The culture needs to be retaken. Institutions need to be recaptured — or routes around them […]
[…] A calamitous, destructive, painful descent is happening before our eyes. We’re witnesses to history — but the imperative is to be actors against what we’re witnessing. Winning elections, though critical, won’t alone fix things. The culture needs to be retaken. Institutions need to be recaptured — or routes around them created. […]
[…] A calamitous, harmful, painful descent is occurring earlier than our eyes. We’re witnesses to historical past — however the crucial is to be actors towards what we’re witnessing. Profitable elections, although important, received’t alone make things better. The tradition must be retaken. Establishments have to be recaptured — or routes round them created. […]
I am a senior fraud investigator with one of the largest merchant processors in the world. Like so many other companies, it’s woke and their values don’t align with mine. I haven’t seen any kinds of job postings or links. Do they have a fraud department? Like Liam Neeson, I have a special set of skills in high demand and am looking to make a change.
Sorry for the delayed response. To answer your question, I am not entirely sure whether or not Dan Bongino’s company has a fraud department. However, I really hope that they do have one so that you can join them. If I were you, I would reach out to them via the contact form on their home page. Good luck!
What do you mean you aren’t associated with bongino? This page header says joint bonginos parallel economy?
Michelle, I understand that this is a bit confusing. I started this website, ParallelEconomies.com in October, 2021. I had been publishing articles for months by the time Dan Bongino announced the launch of his own website called ParallelEconomy.com. I wrote an article on my website, ParallelEconomies.com explaining the signup process for Dan Bongino’s new website, ParallelEconomy.com. We both have websites with very similar names. However, ParallelEconomy.com is a payment processing website owned by Dan Bongino, while mine is more of an informational website about the Parallel Economy in general, as well as a business directory and store, and is owned by me. I hope that helps clear things up a bit. Thank you very much for your question. God bless!
Is Parallel Economies solely for businesses to send/receive payments?
Or are there also accounts for individuals?
(i.e., Can I create an account here and then go cancel my PayPal account?)
Great questions Matthew! Just a heads up, this website is not associated with Dan Bongino, although we are huge fans of his. As far as I know, Dan’s business (https://www.paralleleconomy.com/), is only for businesses and not for individuals.
If I were you, I would reach out to them via the contact form on their home page for more information. You may also find their FAQ page useful (https://www.paralleleconomy.com/faq/). As for actual PayPal alternatives for individuals, my best suggestion is to get some crypto. Although it is not as widely accepted as other forms of payment at the moment, I believe that there will be a time relatively soon where wide adoption will eliminate the need for you to have a middleman like PayPal between your money and the vendor of the product or service you are trying to purchase. That may not help you in the short run, but I’d rather not have to put my trust in some third party that can decide who I can and cannot do business with and what I can or cannot purchase.
If you do find a decent / non-woke alternative to PayPal for individuals, feel free to comment on here letting me know about it and I will try to review it and write an article about it. Good luck!
i got the application and registration email and cannot figure out anywhere to go from here. There are no help tabs. I can’t find an app. I can even get a phone number. Seriously WTF
I just signed up for this service for my business. I completed the process and it occurred much like the article outlines. My question is how long does it take for approval and follow up emails to establish the online log in etc.
Thank you,
It seems as though this doesn’t help the consumer unless the business belongs. None of the businesses I use accept it.
If businesses you know of aren’t using ParallelEconomy.com, maybe you should recommend it?
Do you foresee being an option to pay private individuals? Or if I owe my sister for items but not business related
Candy, thanks for the question. Honestly, if I were you and I wanted to send money to a family member, I’d probably just use some form of cryptocurrency. I can send Bitcoin from my crypto wallet to anyone else’s crypto wallet in seconds without a single bank or third party being involved in the transaction. Also, more and more companies are starting to accept various forms of crypto as payment. I think that soon, cryptocurrencies will solve this particular problem for us. I have also been keeping an eye on a new cryptocurrency project called Carbon12 that is designed specifically for Christians. Check them out here: https://carbon12.co/
I don’t pay for PayPal why should I pay for your payment service. I am not a business and don’t receive money. I would only buy products.
How is PE implemented on a WordPress website?
Is there an available store WordPress plugin which utilizes PE as a payment processor?
Eric,
Unfortunately, I do not know of one. If you do find one, please post it here as a comment. I might like to find one of those as well.
A bit off topic but in the same arena… Does anyone know about signing up for the business directory on P.E.? I have signed my business up now 3 times and it still is not showing up in the directory. I do not agree with paying a monthly service fee for something I rarely get a call for however I have a business established way back in 1986 so I am definitely someone worth including in the directory. really starting to think Bongino is only in this for the money.
I am suspecting shennanigans on the Part of Big Tech. I cannot sign up for parallel Economies.
I am certainly not “Big Tech”. I think that the website you are trying to sign up for is https://paralleleconomy.com/. The website you are currently on is “paralleleconomIES.com”. It’s plural. I actually launched this website in October, 2021. I wrote this article on January 18, 2022, which is when I found out, along with the rest of the world, that Dan Bongino had launched a website with a domain name that was the singular form of my own. I understand it’s confusing, but I see no reason that I should shut my site down just because someone launched a different site with a similar name. I’m a huge Dan Bongino fan, and hopefully this article has helped some folks figure out how to sign up for his payment processing site, but if you are trying to sign up on THIS site, then you are mistaken. Please head over to ParallelEconomy.com if you are looking to join Dan’s payment processing service.
God bless,
Noah
Noah,
I do not see any of my posts here. I posted my various opinions on parallel economies.
As a matter of fact I see other posts with similar concerns/questions/ideas.
I saved all the screenshots of my comments in this site. I was hopping for a response.
All of them had the ” your comment is awaiting moderation”. If you are going to start the “moderation” stuff a la Fakebook is not going to help in developing the “Parallel Economies”.
I had questions and comments regarding “Parallel Economies”. >>>>Nothing else. If you do not have a response just say so. If I offended you or the spirit of your project, say so.
On my way out, I’m taking another screenshot.
Best
Alfonso
Friends… I just read an email from this site and boy do I feel stupid. I think with the article referring to Dan Bongino for whatever reason I assumed this was his site. As I find out it is not. I will say I appreciate the opportunity to join this site and appreciate the follow up by the moderator of this site. I will definitely remain listed here and using this site for references if possible when I need items. As far as the payment processing, I cannot justify the monthly service charge as I do not do enough credit card business. I receive a no charge option through my quick books even though I am not happy with them I would be losing money at $20 per month.