Business
Cuentas Signs Marketing Agreement with SDI Black 011 and granted option to purchase 51% for $1 Million
Cuentas Signs Marketing Agreement with SDI Black 011 and granted option to purchase 51% for $1 Million.
About this update from Cuentas Inc.
[{"type":"text","content":"MIAMI, FL / ACCESSWIRE / April 14, 2021 / Cuentas, Inc. (NASDAQ:CUEN)(NASDAQ:CUENW) ("Cuentas"), a leading FinTech provider of mobile banking and payment solutions focused on Hispanic and Latino communities signed a Marketing Agreement with SDI Black 011 (SDI), a leading prepaid telecom and digital provider, to incorporate sales of the Cuentas Prepaid Mastercard®, Cuentas Mobile App and digital wallet into its electronic portal while the parties work together to expand the SDI distribution network.The SDI network currently has 31,600 locations in the USA and Cuentas will deposit $200,000 in escrow to jump start the expansion of the SDI network, initially in the New York, New Jersey, Connecticut tri-state area. The initial goal is to sign up 1,000 new targeted prime locations, including convenience stores and "bodegas", especially near Mass Transit stations in CT & NY as the Cuentas App is currently linked with the GO_CT Transit Reload system and plans to be connected to the NY MTA when it expects to start digital sales to the public in September. Up to 250 of these locations may be set up with free WiFi hotspots provided by Cuentas that may generate marketing interest and revenue from the advertising platform.SDI Black 011 (SDI) will promote to its 1 million subscribers the Cuentas Prepaid Debit Mastercard®, the Cuentas Mobile App and when available, the Cuentas Starter Prepaid Mastercard®.Heading this project for Cuentas is Executive Vice President Jeff Jorgge, who recently left Sprint, where he was involved in building its nationwide indirect sales channel. Jeff is uniquely qualified for this position as he has been in the industry for over 20 years and has done similar work with several major companies."I have been involved in indirect channel distribution for the past 15 years in the New York, New Jersey & Connecticut area and am very excited that Cuentas and SDI are working together in this marketing agreement to bring quality products and services to a segment of the population that really needs these financial solutions," stated Jeff Jorgge, Executive Vice President of Cuentas. The Cuentas Mobile App and portfolio of solutions should help to bridge the digital divide for the unbanked, underbanked and underserviced population," added Jorgge.The Cuentas GPR program w...