MINNEAPOLIS, Oct. 04, 2016 (GLOBE NEWSWIRE) -- Cachet Financial Solutions (OTCQB:CAFN) , a leading mobile FinTech provider of cloud-based remote deposit capture (RDC) and mobile money solutions, has partnered with Viamericas Corporation , a portfolio company of the International Finance Corporation (IFC) - World Bank Group, to integrate Viamericas’ top-ranked international money transfer capabilities into Cachet’s award-winning Select Mobile™ Money SaaS solution.
Viamericas’ global network provides cash payout or same-day direct deposits from the U.S. to Mexico, Central and South America, the Caribbean, the Philippines, India and other countries. The network includes thousands of bank and nonbank payout locations in both urban centers and remote rural communities.
Cachet’s Select Mobile Money cloud-based SaaS platform allows hundreds of financial institutions and alternative financial service (AFS) providers across the U.S. to provide their prepaid cardholders a full suite of convenient financial services in one easy-to-use mobile companion app. Available for both iOS or Android mobile devices, Select Mobile Money helps users better manage their prepaid cards and personal funds, including account management, transaction history, card-to-card transfer, check-to-card loading with immediate good funds option, and other convenient services.
The app also features location-based technology that can pinpoint nearby reload locations and ATMs, as well as a national mobile coupon network with local deals. Advanced features include fingerprint authentication and multi-language support.
The integration with Viamericas adds fully-integrated, seamless and secure international money transfer capabilities, including single sign-on, complete transaction histories and easy repeat transactions with previously saved recipients, all of which are available through Viamericas’ Vianex Money Transfer as a Service (MTaaS) platform.
“Our partnership with Cachet and the integration of our platforms brings the convenience and efficiency of international mobile money transfer to the banked and unbanked alike,” said Paul Dwyer, CEO of Viamericas. “By integrating our MTaaS platform with Cachet’s award-winning prepaid card app, this partnership furthers our mission to unite immigrant families globally and help them achieve their goals by providing low-cost, reliable and secure international remittance through the channels most used by our customers."
Jeff Mack, president and CEO of Cachet Financial Solutions commented: “In today’s mobile world, people expect mobile access to the financial services they rely upon every day, which means not having to make a special trip to a bank or service location just to send money to family or friends abroad. For both new and as an upgrade on existing deployments, we can now offer this service on our Select Mobile Money platform as an easy to use, fully-integrated international money transfer feature powered by Viamericas.”
For prepaid card program providers, adding this new international money transfer feature can broaden the appeal of a prepaid card and further extend its life, and thereby create stickier, more profitable customer relationships. Powerful back-end analytics also enable card program providers to segment card users, allowing them to send relevant push notifications and in-app messages that can keep users engaged.
As a unique ‘white label’ offering with multi-tenant capabilities, Select Mobile Money enables quick and easy deployment of a variety of branded cards and matching companion mobile apps — all managed by a singular backend platform. To learn more about Select Mobile Money, visit www.cachetfinancial.com or email info@cachetfinancial.com .
About Viamericas Corporation Viamericas Corporation offers money transfer, bill payment, check processing and top-up services at agent locations across the United States, online at viamericas.com and a network of thousands of pay-out locations throughout Latin America, India and Asia. Viamericas provides easy, fast and safe international payments and superior customer service. The International Finance Corporation (IFC) – member of the World Bank Group – is Viamericas’ largest institutional shareholder. For more information, visit www.govianex.com .
About Cachet Financial Solutions, Inc. Cachet Financial Solutions is a leading cloud-based, SaaS technology provider serving the financial services industry with mobile money and remote deposit capture solutions for PC, Mac and mobile. Founded in early 2010, Cachet has quickly grown into a technology leader and trusted partner of some of the largest and most respected financial organizations. With remarkable growth, an impressive client base and award-winning technology, Cachet continues to drive innovation and deliver world-class solutions to financial institutions of all sizes. Cachet believes that its industry-leading solutions can help the company’s clients increase customer retention and revenue opportunities. Cachet's cloud-based technology platform simplifies development, deployment and servicing of consumer and commercial solutions—minimizing cost and accelerating speed-to-market for Cachet’s clients. Enabled by Cachet's suite of business and consumer solutions, financial institutions can better serve the needs of all their customers. For more information, visit www.cachetfinancial.com .
Forward-Looking Statements This press release contains certain statements that would be deemed "forward-looking statements" under Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1933. Words such as "may," "likely," "anticipate," "expect" and "believes" indicate forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements.
Forward-looking statements reflect our current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. We discuss many of these risks in greater detail in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015, filed with the Securities and Exchange Commission on April 14, 2016, under the heading "Risk Factors" and in the other reports we file with the Commission. You are cautioned not to place undue reliance on these forward-looking statements. Also, forward-looking statements represent our estimates and assumptions only as of the date of this press release. Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.
Media Contact: Judy German, VP & CMO Cachet Financial Solutions, Inc. 952.698.6991 jgerman@cachetfinancial.com Investor Relations: Matt Glover or Najim Mostamand Liolios Group, Inc. 949-574-3860 CAFN@liolios.com
