Second, Emida demonstrated a cash alternative for underbanked consumers:
"Cash and Transact allows consumers to apply cash to their virtual mobile account without requiring an existing bank account or credit card collateral. Account holders can load value to their Cash and Transact account and then transfer cash or pay for goods and services with anyone, anytime, from anywhere. The Cash and Transact vision is to create a borderless community connected by transactions via the Cash and Transact mobile wallet.Cash and Transact is an ideal cash alternative for just about anyone, but especially for unbanked subscribers. There are no credit checks, and the system is much safer than carrying cash in many parts of the world. Cash and Transact is as convenient as cash - users can pay bills, buy groceries, transfer money to family and friends in remote locations and much more - all from their mobile handset."
Product Launched: November 1, 2012
HQ Location: Foothill Ranch, CA
Company Founded: April 4, 2006
Metrics: 86 employees globally and annual revenue of $1.4B across 54,000 active locations
Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)
Introducing Ron Kraft (VP, General Manager North America) and Mark Beckner (CTO)