Cuentas Card and App to Transform Personal Finance for Underbanked Latino Consumers in the United States
MIAMI, FL / ACCESSWIRE / February 3, 2020 / Cuentas, Inc. (OTCQB:CUEN) ("Cuentas"), a leading FinTech provider of mobile banking and payment solutions serving Latino and Hispanic consumers, today announced the long-awaited launch of the Cuentas Mobile App, allowing consumers for the first time to sign up for and use the Cuentas prepaid GPR (general purpose reloadable) Mastercard.
The Cuentas App, available for download now on the Apple App Store and on the Google Play Store for Android, allows consumers to easily activate their Cuentas prepaid Mastercard, review their account balance and conduct financial transactions. Cuentas is introducing free card to card transfers from one Cuentas card to other Cuentas cards which will be a very useful and competitive feature.
The Cuentas prepaid Mastercard acts as a comprehensive banking solution for the 20 million+ unbanked U.S. Latino community, uniquely enabling access to the U.S. financial system to those without the necessary paperwork to bank at a traditional financial institution while enabling greater functionality than a traditional bank account. This proprietary general-purpose reloadable card provides an FDIC insured bank account with ATM, direct deposit, cash reload, free Cuentas card to Cuentas card transfers and mobile banking capabilities, among other key features - such as purchasing discounted gift cards and adding Mass Transit Credits to digital accounts (available in California, Connecticut, Michigan and shortly, New York City). Upcoming App upgrades will also include international remittance and other services.
"It is with great pleasure that I announce the long-awaited launch of the Cuentas App and prepaid Mastercard, which could revolutionize finance for millions of Latino Americans," said Arik Maimon, Co-Founder and Chief Executive Officer of Cuentas. "This unique product, enabled through partnerships with an industry-leading issuing bank and processor, is poised to transform thousands of bodega merchants into financial hubs and make the banking system more accessible to all."
"Arik and I have strived to bring this incredible product to market for years - addressing a clear, unmet need in the financial products marketplace," added Michael De Prado, Co-Founder and President of Cuentas. "I would encourage all of our shareholders to download the Mobile App for themselves using the links above to experience our product firsthand. I would like to thank each of our valued shareholders for their support in making this launch possible and look forward to providing an update on the progress of the Cuentas Mastercard in the near future."
Cuentas, Inc. (OTCQB: CUEN) is a FinTech service provider with proprietary technology to provide solutions for the underbanked and un-bankable Hispanic and Latino population. Its' disruptive services include, but are not limited to, mobile banking, online banking, prepaid debit, ACH and mobile deposits, cash remittance, peer to peer money transfer, and bank accounts to customers who previously could not obtain bank accounts. The proprietary Cuentas General Purpose Reloadable (GPR) Card provides holders with a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. For more information, visit https://ir.cuentas.com.
This news release contains "forward-looking statements", as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as "estimate", "anticipate", "believe", "plan" or "expect" or similar statements are forward-looking statements. Forward-looking statements contained in this news release include statements relating to other publicly available information regarding Cuentas.
SOURCE: Cuentas, Inc.