Cachet Financial Solutions, a provider of prepaid mobile money management solutions, teamed up with a top five commercial bank in the US to implement a prepaid mobile platform for a major supermarket chain.
Select Mobile Money prepaid mobile application from Cachet will offer the retail chain’s customers a full suite of convenient mobile account services.
It will also allow prepaid card users to view balances and transaction details, reload money, including check-to-card loads with "instant good funds," and transfer funds.
Equipped with back-end analytics and messaging capabilities, the supermarket will be able to segment cardholder behavior and send relevant marketing messages.
Jeffrey Mack, president and CEO of Cachet Financial Solutions, said: "Mobile functionality has become an essential component to the financial services industry in the last 10 years."