Cachet acquires prepaid mobile platform business unit from DeviceFidelity

Wednesday 12 March 2014 11:48 CET | News

Cachet Financial Solutions, a provider of remote deposit capture (RDC) services, has acquired DeviceFidelitys Moneto prepaid mobile platform and a core VISA prepaid mobile money platform.

In addition to the core VISA prepaid mobile money platform and the prepaid mobile application platform, the acquisition includes strategic relationships with Mastercard, MoneyGram and Navy Federal Credit Union. Cachets extended prepaid mobile offering is set to enable program managers, processors, banks and credit unions to provide their customers an enhanced prepaid mobile application.

The Moneto prepaid mobile platform architecture enables clients to add a number of features, such as cash loading, ‘Good Funds’ for cheque to card loads, card balance and history, loyalty and rewards, person-to-person (P2P) transfers, expedited bill pay and remittance. The mobile application enables users to access, manage and use their prepaid card from their mobile phone. Additionally, the platform also provides clients with a mobile payment feature that enables NFC on the iPhone and Android devices, for contactless payments.

Cachet Financial Solutions is a financial services technology company specializing in commercial and consumer remote deposit capture (RDC) solutions for iOS, PC and mobile.

DeviceFidelity is a US-based mobile contactless payment services company which develops plug-and-play technologies that enable institutions to deploy their services and applications on mobile phones worldwide.

In December 2013, Cachet Financial Solutions has entered a partnership with YellowPepper, a Latin American mobile financial network provider, to provide mobile remote deposit capture services for the latter’s YEPEX mobile banking network.

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Keywords: Cachet, Cachet Financial Solutions, prepaid, mobile, platform, business, moneto, DeviceFidelity, remote deposit capture, RDC
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce