Cyphermint Partners With PayStar to Provide Prepaid Visa® Debit Services to Worldwide Commun

Wednesday 8 December 2004 10:22 CET | News

Cyphermint, provider of secure electronic payment solutions, will partner with PayStar Corporation, a provider of stored value debit cards, banking debit card load centers and kiosks. This strategic alliance of Cyphermint and PayStar will supply Worldwide Communications Group, Inc.s (WWCG) underserved low income Government Section 8 housing recipients with Cyphermints PayCash Now(tm) Visa® Debit Card.

The PayCash Now Visa® Debit Card, issued by BANKFIRST, will serve as the vehicle to deliver the nationwide ATM debit card services for the program called the Community Technology Network Project (CTNP). WWCG developed the CTNP stored value card program and is the administrator of the project. PayStar will offer the ATM debit card program to approximately 16 million existing SEC8 families. The CTNP Project provides a convenient venue for participants to access the Internet and several substantial discounted medical programs for underserved families. The CTNP ATM Card will provide the participants who may not qualify for credit or checking accounts, a flexible and secure cashless payment option. Additionally, recipients of the program will be able to render payment for rent, utilities and pay for discounted program benefits without the use of a major credit card, a checking account or actual cash. The CTNP Card Program will generate a significant number of new PayCash users and may potentially equate to 200,000 or more new PayCash customers for Cyphermint in 2005.

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Categories: Payments & Commerce | Payments General
Countries: World
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