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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 reloadable pre-paid cards as a viable alternative to such basic checking accounts. It's a very large market that spans demographics."
Reloadable 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 reloadable 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.
About Security First Holdings International Inc. ( PINKSHEETS : SCFR )
Security First Holdings International Inc. ( PINKSHEETS : SCFR )
creates innovative possibilities that extend Security First
International Holdings is a company focused on providing innovative
financial payment products and services to consumers globally. We
provide new possibilities for the mobile commerce market through
technology and platforms that will create a meaningful financial impact
on all consumers. Through a mobile technology that works in combination
with Android devices, direct carrier billing and prepaid reloadable
cards; Security First International Holdings, Inc. is re-defining the
conventional application of funding sources for prepaid reloadable
cards.
A technology company redefining mobile shopping, Security First International Holdings, Inc. is bringing together alternative consumer financing solutions designed to create a consumer mobile shopping lifestyle that is a more connected, powerful experience.
Our mission is to be the leader in innovative consumer financial products.
More information about Security First International Holdings, Inc. ( PINKSHEETS : SCFR ) is available at:
www.scfrinc.com
https://play.google.com/store/apps/details?id=com.wMCash
http://www.youtube.com/user/mcashpromo
https://www.facebook.com/MCashOfficial
https://twitter.com/MCash_Official/followers
FORWARD-LOOKING DISCLAIMER
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about the business plan and prospective financial condition of Security
First Holdings International, Inc. The forward-looking statements are
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cause our actual results, levels of activity, performance or
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Security First Holdings International, Inc. can successfully execute its
operating plan; its ability to integrate acquired companies and
technology; its ability to retain key employees; its ability to
successfully combine product offerings and customer acceptance of
combined products; general market conditions; and whether Security First
Holdings International, Inc. can successfully develop new products and
the degree to which these gain market acceptance. Actual results may
differ materially from those contained in the forward-looking statements
in this press release.
©2012 Security First International Holdings, Inc. (SCFR). The information contained herein is subject to change without notice. The only warranties for SCFR products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. SCFR shall not be liable for technical or editorial errors or omissions contained herein.
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