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May 28, 2015

CashPass selects Cachet’s mobile money platform for Visa Prepaid Debit Card program

CashPass, a prepaid debit card provider and program manager to businesses, has selected Cachet Financial Solutions’ Select Mobile money platform for CashPass Visa Prepaid Debit Card program.

By Verdict Staff

CashPass, a prepaid debit card provider and program manager to businesses, has selected Cachet Financial Solutions’ Select Mobile money platform for CashPass Visa Prepaid Debit Card program.

CashPass Network offers prepaid card distributorships for businesses and online enrolment for new cardholders.

The platform will allow CashPass Visa cardholders to select from a range of services that aid them to better manage prepaid cards and money, including account management, transaction history, card-to-card transfer and other valuable services.

The Select Mobile Money app will include location-based technology that can locate nearby reload locations and ATMs.It will also allow CashPass Visa card distributors to divide customers based on behavior and send relevant marketing notifications to keep their customers engaged.

Issued by Metropolitan Commercial Bank of New York (member FDIC), the CashPass Visa Prepaid Debit Card will be accepted wherever Visa is accepted.

CashPass operations director Michael Rabon said: "We expect a mobile app to significantly enhance the overall value of a CashPass prepaid card distributorship and bring more businesses to choose the CashPass Network."

Cachet president and CEO Jeffrey Mack said: "More and more financial institutions are recognizing the value in tying prepaid to the mobile environment to win over today’s mobile-centric consumers and new Millennials."

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