Contis Group, a provider of end-to-end payment solutions, has been chosen to power MoneyMona’s eCurrent account, Visa prepaid debit card and rewards programme.
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With the help of Contis’ end-to-end service capabilities and Visa e-money platform, MoneyMona’s digital current account and debit card promotes effective money management by allowing users to transfer essential funds into digital ‘envelopes’, helping unbanked account holders to control the family budget and put money aside for regular bills.
In addition, cardholders can generate cash back through purchases made in-store and online at a range of popular retailers. Multiple companion cards can also be obtained, enabling the facility to be used as a flexible and convenient joint account.
Roy Welch, managing director of MoneyMona, said: “Products like ours provide essential support to the 3.7 million people in the UK that don’t have access to, or simply don’t want, a traditional bank account.
“Our solution enables anyone that is outside the traditional banking system to set up standing orders, make secure payments and manage their money online quickly and conveniently, regardless of their financial status and credit history.”
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By GlobalDataMike Fromant, managing director of Contis Group, said: “MoneyMona selected Contis because the scalability and flexibility of our e-money and rewards platform enables it to develop the offering in line with the changing demands of its customers.
“As a principal member of Visa, Contis can offer a much wider range of services than most e-money institutions. MoneyMona has recognised these benefits and we look forward to a long and successful partnership.”
