Security First International Holdings, Inc. (Pinksheets: SCFR.PK) Approved as American Express Affiliate Partner, launches M-Cash™ “No-Cash” Prepaid Card Funding Solution ‘For Everyone’
LAS VEGAS, NV – Security First International Holdings, Inc. a leading provider of mobile financial products and services for consumers, is targeting the well-positioned American Express Prepaid consumer market as M-Cash™ moves to stake a claim in the growing industry of reloadable prepaid card funding providers.
The announcement marks an important position for the company, which is the first of its kind to provide a convenient way for consumers to securely fund prepaid re-loadable cards without needing cash – directly from an Android mobile device carrier bill.
American Express, known for catering to a more affluent clientele with its signature green charge cards, has successfully attracted a broader swath of consumers with the launch of its Reloadable Prepaid card in mid-2011, and recent union with Walmart offering reduced service fees through its Bluebird initiative. The M-Cash™ “no cash” funding gateway will represent an alternative to cash for many types of customers, primarily the 25% of US households, accounting for nearly 43 million of under banked people.
“M-Cash™ is for everyone,” said Brian Fowler, President. “We understand the “sea change” that is occurring in banking, the cost impact to consumers of traditional checking accounts and how this has driven the emergent market of re loadable pre-paid cards as a viable alternative to such basic checking accounts. It’s a very large market that spans demographics.”
Re loadable pre-paid cards provide security; credit-building initiatives and convenience to consumers who lack full access to traditional checking and savings accounts; however prepaid card are currently limited to cash and credit re-load options. M-Cash™ will attract consumers with the convenience of facilitating a cashless reload, representing an alternative to cash for many customers. M-Cash™ plans to capitalize on the market of issuers reporting an excess of $120 million in cardholder fee revenue on 524.5 million transactions, in 113 card programs.
“We are very excited to have been approved as an American Express Affiliate Reload Partner. We’ve seen the rapid growth of Amex prepaid card holders and identify M-Cash™ as a perfect fit in this market” says Teresa Ambroz, CEO.
The company’s M-Cash™ mobile reload service is a convenient way for consumers to securely fund prepaid re loadable cards with any Android mobile device direct carrier bill, and is available to all American Express prepaid card holders through Google Play for a onetime charge of $4.95.