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 payment technology company.
Under the terms of the 5-year agreement, InComm will act as the processor for the soon to be launched Cuentas prepaid debit card. Cuentas’ General Purpose Reloadable (GPR) debit card will be a complete solution for the unbanked Latin American community of 20 million people, allowing only access to the US financial system for those without the necessary paperwork to do their banking at a traditional financial institution. This exclusive general-purpose reloadable card provides an FDIC-insured bank account with international payment, bill payment, ATM, direct deposit, cash reloading and mobile banking capabilities.
The Cuentas portfolio will offer unique products and services such as toll and public transport, digital content, games, internet shopping, food and restaurants as well as mobile top-ups.
“I am pleased to announce our strategic partnership with InComm, a world-class payment technology provider for industry-leading companies,” said Arik Maimon, Founder and CEO of Cuentas. “This relationship, a natural extension of our previous pilot programs, will instantly provide Cuentas with a truly national FinTech presence, which, when paired with backend partners, allows our unique model to expand nationwide with minimal cost for Cuentas. I look forward to achieving our operational goals and delivering best-in-class banking solutions to the underbanked Latin American population, thereby creating long-term value for our shareholders.
“Cuentas has worked diligently to develop and integrate this important relationship with InComm, a true leader in FinTech,” said Michael De Prado, Founder and President of Cuentas. “We look forward to delivering this unique, innovative and cost-effective financial solution aimed at the unbanked and underbanked segments of the population,” added De Prado.
By creating more value in every transaction through innovative payment technologies, InComm creates seamless and valuable business experiences. InComm’s unique products and services – which range from gift card malls to enhanced payment platforms – connect businesses across a wide range of industries, including retail, healthcare, tolls and public transport, incentives and financial services to an ever-expanding consumer base. With more than 25 years of experience, more than 500,000 distribution points, 386 global patents and a presence in more than 30 countries, InComm leads the payments industry from its headquarters in Atlanta, Georgia. Learn more at www.incomm.com.
Cuentas, Inc. (OTCQB: CUEN) is a FinTech service provider with proprietary technology to deliver solutions to the underbanked and unbankable Hispanic and Latin American population. Its disruptive services include, but are not limited to, mobile banking, online banking, prepaid debits, bill payment, ACH and mobile deposits, remittances, money transfer between individuals and bank accounts to customers who previously could not get bank accounts. . The Cuentas General Purpose Reloadable (GPR) proprietary card offers holders of digital wallets, discounts on purchases at major physical and online retailers, free telecommunications services and the ability to purchase digital content. The card will be available in more than 31,000 bodegas. For more information, visit www.cuentas.com
This press 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. The statements contained in this press release, which are not purely historical, are forward-looking statements and include all statements regarding beliefs, plans, expectations or intentions regarding the future. With the exception of historical information presented here, the matters discussed in this press release contain forward-looking statements that are subject to certain risks and uncertainties which could cause actual results to differ materially from future results, performances or achievements expressed or implied by these statements. Statements which are not historical facts, including statements preceded, followed by or containing words such as “estimate”, “anticipate”, “believe”, “plan” or “foresee” or similar statements are statements prospective. The forward-looking statements contained in this press release include statements relating to other publicly available information about the company.