Second on stage, PreCash launched Flip:
"Flip is the first app offering immediate mobile check deposit (IMCD) and free bill pay transactions to underbanked consumers.
IMCD is a significant convenience for those who currently cash checks at check cashing stores. Current mobile check deposit solutions take up to three days, or require the user to have a bank account. For people living paycheck-to-paycheck, that wait is simply too long. With Flip, consumers can deposit checks into a prepaid account and access their money immediately. There is no bank account required and no need to take time away from work or family to go to a check-cashing store. Combine that with free bill payment transactions, and Flip is the first viable mobile solution for consumers who need or choose bank alternatives."
Product Launched: September 2012
HQ Location: Houston, TX
Company Founded: 1998
Metrics: With $71M in revenue in 2011, PreCash serves more than 3M consumers and processes nearly $3B dollars in payments annually. With a workforce of about 200 in offices in Houston and Portland, OR, PreCash is a leader in payments services and transaction processing
Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)
Introducing Blair Jeffery (SVP, Sales & Business Development) and Alex Vertiz (VP, Product Strategy & Marketing)