Security First International Holdings, Inc. Announces Partnership With a Bank of America Merrill Lynch ACH Service Provider
LAS VEGAS, NV, Nov 19, 2012 (MARKETWIRE via COMTEX) — Security First International Holdings, Inc. (PINKSHEETS: SCFR), a leading provider of mobile financial products and services for consumers, announces today their partnership with a Bank of America Merrill Lynch third party ACH service provider. This ACH CashPro service provider partnership will enable batch processing and settlement of funds to reloadable pre-paid debit cards for the company’s M-Cash(TM) Wallet.
The company’s M-Cash(TM) Wallet is a convenient way for consumers to securely fund prepaid re-loadable cards without needing cash — directly from an Android mobile device carrier bill.
“In a single daily session, we are now positioned to seamlessly initiate as many ACH transactions that are required to accommodate the millions of consumers looking to fund their prepaid re-loadable cards without cash. Our partnership with a Bank of America Merrill Lynch ACH service provider positions our proprietary funding gateway M-Cash(TM) as a leader today with ‘no cash required’ prepaid card funding,” says Brian Fowler, President.
Bank of America Merrill Lynch has been an ACH industry leader for over three decades and as the number one receiver of ACH payments and the third largest ACH payments originator, they respectfully process billions of transactions annually. Security First International Holdings confidently leverages this partnership to create a standardized and automated agile prepaid card funding strategy, which today is a top priority for all multinational corporations.
“Our M-Cash(TM) product is designed and readied for the adoption of and opening of new reloadable prepaid cards, which today are surpassing basic checking accounts with a trending opportunity expected at $440 billion by 2017. Security First International Holdings, Inc. is riding this wave of growth as the first re-loadable prepaid card provider to marginalize the need for a cash load requirement through collaborations with a Bank of America Merrill Lynch ACH Service Provider and mobile carrier direct billing partnerships,” says Chief Executive Officer Teresa Ambroz.