MINNEAPOLIS, Oct. 07, 2015 (GLOBE NEWSWIRE) -- Cachet Financial Solutions (OTCQB:CAFN), a leading provider of mobile money technologies to banks, credit unions, and alternative financial services (AFS) providers, will deploy its award-winning Select Mobile™ Money platform to support U.S. expansion plans of a leading global payment solutions provider.
To help expand its demographic and geographic reach, the prepaid and mobile payments leader is partnering with Cachet to integrate 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 U.S. 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 full suite of convenient 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. Powerful 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.
“We’re delighted that a leading global prepaid provider has selected Cachet and our Select Mobile Money platform to support their U.S. expansion plans,” said Jeffrey Mack, president and CEO of Cachet Financial Solutions. “With Cachet’s industry-leading mobile platform, prepaid providers can now extend prepaid card life and expand their demographic and geographic reach by offering 24-hour access to secure and convenient mobile financial services.”
About Select Mobile™ Money
Cachet’s award-winning Select Mobile Money prepaid mobile platform is a cloud-based SaaS solution that enables financial institutions to offer their prepaid cardholders a full suite of convenient financial services in one easy-to-use mobile application. Available for iOS and Android systems, the Select Mobile Money platform can be integrated with existing card programs or used to develop a new prepaid card program, complete with feature-rich mobile app and general purpose reloadable (GPR) or payroll prepaid card. The platform’s powerful back-end analytics enable financial institutions to segment customers based on behavior and send relevant marketing notifications that keep customers engaged in using the app. The Platform is also now offered with the option for Apple Pay™ integration and Apple Watch™ functionality. To learn more about Select Mobile Money, contact Cachet at firstname.lastname@example.org.
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 world’s largest and most respected financial organizations. With remarkable growth, an impressive client base and award-winning technologies, Cachet continues to drive innovation and deliver world-class solutions to financial institutions of all sizes.
The company's industry-leading solutions help clients to increase customer engagement, grow revenues and gain competitive advantage. Cachet's cloud-based technology platform simplifies development, deployment and servicing of consumer and commercial solutions—minimizing cost and accelerating speed-to-market and ROI. Enabled by Cachet's complete suite of business and consumer solutions, financial institutions can better serve the needs of all their customers. For more information, visit www.cachetfinancial.com.
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 and includes, among other things, discussions of our business strategies, future operations and capital resources. Words such as "may," "likely," "anticipate," "expect" and "believes" indicate forward-looking statements.
These statements involve known and unknown risks, uncertainties and other factors which 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 include statements about the anticipated closing of our initial public offering and the number of shares to be sold in the offering.
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 Current Report on Form 10K filed with the Securities and Exchange Commission on April 14, 2015 under the heading "Risk Factors" and in the other reports we file with the Commission. Given these uncertainties, you should not attribute undue certainty to 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 email@example.com Investor Relations: Darin McAreavey EVO & CFO Cachet Financial Solutions, Inc. 952.698.5214 firstname.lastname@example.org