American fintech firm American Standard Wallet (ASW) is set to roll out prepaid cards in the US.
ASW offers prepaid cards primarily to the non-bankable and un-bankable Mexican workers residing in the US and the Latino community to eliminate high cash checking fees, and money order purchase fees.
The new prepaid card on the Mastercard platform will be accepted at 30 million merchant locations and at more than one million ATMs across the globe, or wherever a Mastercard is accepted.
Featuring lock and unlock card access, and the dynamic CVV technology, the ASW Mastercard has zero liability, and is FDIC insured, which makes it reliable and safer than cash.
ASW said that it is also planning a cross-border remittance network to Mexico through ASW prepaid card system. The new service will enable un-banked or self-banked Mexican-American consumers to transfer money card to card from US to Mexico in real time on any technological device.
Additionally, ASW has unveiled plans to expand its card to card remittance programme by launching it in the Philippines and in South Korea which will allow Filipinos and South Koreans residing in the US to transfer money card to card instantly and with ease.