MIAMI, FL / ACCESSWIRE / August 14, 2019 / Cuentas, Inc. (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.”