LiteLink Technologies unit uBUCK Technologies has formed an alliance with Deltec Bank & Trust to sell its prepaid debit cards to the latter’s customers.
Under the strategic alliance agreement, uBUCK prepaid cards will be available via the uBUCK platform to banks and Deltec’s investment account customers.
In addition, Deltec will integrate and market the cards into its digital wallet, exchange relationships and private banking contacts.
uBUCK CEO James Youn said: “We are very excited to enter into a strategic partnership with Deltec, a highly regarded financial institution with a range of private banking and fiduciary expertise. This partnership opens up uBUCK to a large network of financial services providers across the globe.”
The strategic commercial agreement will be executed in phases. Initially, prepaid debit cards will be offered to the partners’ existing bank and wealth management clients.
Subsequently, the partners will market the card programme to private bank networks in the Caribbean, South America, Asia and Europe.
They will also work on a technology platform to link the cards and create white label card programmes to their current digital asset exchange clients.
uBUCK Technologies is a fintech focused on digital payments and wallets. The company provides an online payments platform and pin voucher solution called uBUCK Pay.
Consumers, businesses and merchants can use uBUCK Pay for online shopping and ATM withdrawals. The mobile wallet comes with zero wire or transfer fees, said uBUCK.