Cuentas Announces Prepaid Card Processing Services Agreement with InComm
MIAMI, FL / ACCESSWIRE / August 14, 2019 / Cuentas, Inc. (OTCQB:CUEN), a leading FinTech provider of mobile banking and payment solutions serving Latino and Hispanic consumers, has entered into a processing services agreement with InComm, a leading payments technology company.
Per the terms of the 5-year agreement, InComm will act as a processor for the Cuentas prepaid debit card, which is soon to be launched. The Cuentas General Purpose Reloadable (GPR) debit card will be a comprehensive solution for the 20 million strong unbanked U.S. Latino community, uniquely enabling access to the U.S. financial system to those without the necessary paperwork to bank at a traditional financial institution. This proprietary general-purpose reloadable card provides an FDIC insured bank account with international remittance, bill pay, ATM, direct deposit, cash reload and mobile banking capabilities. The Cuentas Wallet will have unique products and services such as Tolling and Public Transportation, Digital Content, Gaming, Internet Shopping, Food & Restaurants as well as Mobile Topups.
“I am pleased to announce our strategic partnership with InComm, a world-class payments technology provider to industry-leading companies,” said Arik Maimon, Founder and Chief Executive Officer of Cuentas. “This relationship, a natural extension of our prior pilot programs, will instantly provide Cuentas with a truly nationwide FinTech presence, which when paired with backend partners, enables our unique model to scale nationwide with minimal expense to Cuentas. I look forward to executing upon our operational goals and providing top-tier banking solutions to the underbanked Latino population, creating long-term value for our shareholders.”
“Cuentas has worked diligently to develop and integrate this important relationship with InComm, a true leader in the FinTech field,” said Michael De Prado, Founder and President of Cuentas. “We look forward to provide this disruptive, cost effective, unique financial solution set to the unbanked and underbanked population segments," added De Prado.
By building more value into every transaction through innovative payment technologies, InComm creates seamless and valuable commerce experiences. InComm’s unique products and services - which range from gift card malls to enhanced payment platforms - connect companies across a wide range of industries including retail, healthcare, tolling & transit, incentives and financial services to an ever-expanding consumer base. With more than 25 years of experience, over 500,000 points of distribution, 386 global patents and a presence in more than 30 countries, InComm leads the payments industry from its headquarters in Atlanta, Ga. Learn more at www.incomm.com.
Cuentas, Inc. (OTCQB:CUEN) is a FinTech service provider with proprietary technology to provide solutions for the underbanked and un-bankable Hispanic and Latino population. Its’ disruptive services include, but are not limited to, mobile banking, online banking, prepaid debit, bill pay, ACH and mobile deposits, cash remittance, peer to peer money transfer, and bank accounts to customers who previously could not obtain bank accounts. The proprietary Cuentas General Purpose Reloadable (GPR) Card provides holders with digital wallets, discounts for purchases at major physical and online retailers, free telecom, and the ability to purchase digital content. The card will be available in over 31,000 bodegas. For more information, visit www.cuentas.com
This news release contains "forward-looking statements", as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as "estimate", "anticipate", "believe", "plan" or "expect" or similar statements are forward-looking statements. Forward-looking statements contained in this news release include statements relating to other publicly available information regarding the company.
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SOURCE: Cuentas, Inc.
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Released August 14, 2019