The payment solutions provider hasn’t been disclosed yet, however the press release mentions that it is a prepaid and mobile payments provider and the goal of the partnership is to help expand its demographic and geographic reach by integrating the mobile channel into the company’s prepaid debit card programs offered to commercial clients. The provider’s general purpose reloadable (GPR) prepaid card program is the first of several mobile deployments the company expects to launch in the US over the next 6-12 months, powered by Cachet’s Select Mobile Money prepaid mobile platform.
Through Cachet’s Select Mobile Money platform, cardholders will have access to a range of mobile account services, including the ability to view balances and transaction detail, pay their wireless bill, transfer funds and reload money, all from inside the mobile app. Cardholders will also have the ability to access their deposits within minutes with an “instant good funds” feature, via Cachet’s check guarantee partner, Ingo Money.
The app will also offer location-based technology that can pinpoint nearby reload locations and ATMs. Additionally, back-end analytics will enable the prepaid provider’s clients to segment their cardholders based on behavior as well as send relevant marketing messages to keep their cardholders engaged in using the mobile application.
Cachet’s platform is also now offered with the option for Apple Pay integration and Apple Watch functionality.
Cachet Financial Solutions (founded in 2010) 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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now