Viamericas, a Portfolio Company of the IFC – World Bank Group, Partners with Fintech Firm Cachet to Provide Secure Mobile International Money Transfers
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.
Today Cachet Financial Solutions (CAFN), a leading mobile FinTech provider of cloud-based remote deposit capture (RDC) and mobile money solutions, announced that it has partnered with Viamericas Corporation 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.
Paul Dwyer, CEO of Viamericas stated, “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. 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 firstname.lastname@example.org.
Vista Partners recently updated coverage on Cachet Financial Solutions, Inc. (Ticker: CAFN) (“The Company” or “Cachet”) with a twelve-month price target of $21.50.
John Heerdink, Managing Director at Vista Partners, stated, “Cachet enjoys a highly scalable financial technology (“fintech”) SaaS business model with expanding product offerings, recurring revenue streams, extensive cross-sell & upsell opportunities within an existing diverse client base of financial organizations.” Mr. Heerdink concludes, “Cachet’s 2016 revenue guidance reflects an organic revenue growth rate of 84% to 132% year-over-year and after reporting Q2 2016 in August management believes they are on track as they realized 100% YOY revenue growth vs. Q2 2015.”
To download a FREE copy of the Cachet Financial Solutions, Inc. (Ticker: CAFN) research report, please visit http://www.vistapglobal.com and click the “download research” icon to gain access to the report.