My entry card idea, incarnated as a chip card.
The person down and under gets an ID check and an Association marked ATM card, verified by the local charity. Charities do a lot of ID verification now, we simply make their procedure universal for the ATM card. The Charity association guarantees cash on demand recovery from 1-5%. The amount of insurance is determined by local work history. Charities manage a secure credit history for their clients. The entry card also has an S and L function, in partnership with one of the banks.
Now, any person having one of these cards will fair much better than one without it in the high risk payday loan business. The creditor transaction costs are lower because the local charity knows this person's work history, and has already priced it.
The entire card operation is funded by large wealthy donors. Helps the poor directly, it gives them a trusted ledger service at zero cost. The card is invalid when income exceeds a threshold.
Get the No Activity letter from the regulators
The association obeys one government rule, kicks folks off the card when they make too much money. In return, government enforces no card regulations. Regulations costs drop. Any employer can hire a owner of this card and pay direct to the card account, bypassing all government taxes and reporting. There is a maximum hourly wage, a cap on this regulatory release as well as a monthly and annual wage cap. Minimum wage rules may apply.
The Association card function is compatible in other forms; as a virtual card on the computing device works, or it can be embedded in a hardware wallet or a walk up teller account.
Motto, all charities agree:
No matter how poor, you can have a S/L cash card
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