How they describe themselves: mCASH enables you to pay and get paid easily using your mobile phone. On the back end, we are directly connected to bank infrastructure, and credit and debit card systems, transacting in real time, creating a link between the old and the new payment systems. Our transaction engine is run on Google’s Cloud Platform, enabling us to handle the complex transaction and settlement processing from users, merchants, and different bank accounts. Contrary to the hype around big data, we focus on small data, your data, shared with your active consent to enable connection between you and merchants based on context and location.
How they describe their product/innovation: We offer real-time, person-to-person transactions with your mobile phone number as the destination address and a funding source of your choice. You can charge your bank account, debit or credit card, pre-paid balance, or a line of credit. Furthermore, mCASH enables merchants to accept payments in any channel using the hardware they already have, including mobile merchants using a smartphone.
The underlying payments engine, running on Google App Engine, is the core of mCASH. The payments engine handles several thousand transactions per minute, advanced fraud and AML prevention, complex transaction processing, and ensures API based secure and real-time communication between FIs, off and online merchants, and end users.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms