MINNEAPOLIS, July 23, 2014 (GLOBE NEWSWIRE) -- Cachet Financial Solutions (OTCQX:CAFN), a leading provider of prepaid mobile money management solutions, has partnered with a top five commercial bank in the U.S. to implement a prepaid mobile platform for one of the world's largest supermarket chains.
Cachet's award-winning Select Mobile™ Money prepaid mobile application will offer supermarket customers a full suite of convenient mobile account services. Select Mobile Money will also allow prepaid card users to view balances and transaction detail, reload money, including check-to-card loads with "instant good funds," and transfer funds from inside the app. Powerful back-end analytics and messaging capabilities will allow the supermarket to segment cardholder behavior and send relevant marketing messages to keep its customers engaged in using the mobile application. The program is scheduled to go live late summer.
"Our selection by a top U.S. bank affirms the tremendous value proposition of our Select Mobile Money platform, and particularly its unique features and capabilities," said Jeffrey Mack, president and CEO of Cachet Financial Solutions. "It also reflects the commitment of our partner and the supermarket to enhancing the quality of the customer experience.
"Mobile functionality has become an essential component to the financial services industry in the last 10 years," continued Mack. "Cachet is at the forefront of this trend with the most secure and robust technology offering in the market."
About Select Mobile Money
Cachet's Select Mobile Money prepaid mobile platform is a cloud-based SaaS solution that enables financial institutions to offer their prepaid cardholders a full suite of convenient financial services in one easy-to-use mobile application. Available for iOS and Android systems, the Select Mobile Money platform can be integrated with existing card programs or used to develop a new prepaid card program, complete with feature-rich mobile app and branded general purpose reloadable prepaid card. The platform's powerful back-end analytics enable financial institutions to segment customers based on behavior and send relevant marketing notifications that keep customers engaged.
To learn more about Select Mobile Money, contact Cachet at info@cachetfinancial.com.
About Cachet Financial Solutions, Inc.
Cachet Financial Solutions is a leading cloud-based, SaaS technology provider serving the financial services industry with mobile money management and remote deposit capture solutions for PC, Mac and Mobile. Our industry-leading solutions help clients to increase customer/member engagement, grow revenues and gain competitive advantage. Cachet's cloud-based technology platform simplifies development, deployment and servicing of clients' consumer and commercial solutions—minimizing cost and accelerating speed-to-market and ROI. With our complete suite of business and consumer solutions, financial institutions can better serve the needs of all their customers/members. For more information, visit www.cachetfinancial.com.
Forward-Looking Statements
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