Cyphermint Introduces the PayCash NOW Visa Debit Card
This Prepaid Card Will Provide Universal Access for the Unbanked Consumer to Securely Purchase Goods and Services
January 24, 2005, Marlborough, Massachusetts - Cyphermint, Inc., a leading provider of secure electronic payment solutions, announced the introduction of the PayCash NOW™ Visa® Card, a prepaid payment card that provides consumers without traditional banking relationships a flexible and secure cashless payment option.
Issued by BANKFIRST, the PayCash NOW Visa Card can be used everywhere Visa debit cards are accepted - at millions of brick-and-mortar and online merchants worldwide. The PayCash NOW Card also provides access to funds through the Visa®/Cirrus® ATM networks.
Traditionally, consumers without credit cards have not been able to shop on the Internet. These "unbanked" consumers have also had difficulty booking hotels and purchasing airline tickets. Cyphermint's PayCash NOW Card helps these consumers open new doors to easily and securely access and pay for goods and services where they have been previously unable.
"Our goal is to provide the underbanked population with a complete and secure purchasing option," said Joe Barboza, President and CEO, Cyphermint. "The PayCash NOW Card does just that, while offering consumers a product that has a similar look and functionality as a traditional credit card, with easy funding options and low transaction costs."
This innovative card will also provide unbanked and underbanked consumers with enhanced ATM capabilities, including PIN security (personal identification number), as well as the option for direct payroll deposit.
The PayCash NOW Card does not require a bank account, security deposit or credit check and can be funded and reloaded at thousands of walk-in bill-pay locations across the country. The card can be used as a money-management tool for any budget-conscious consumer who would like to keep their spending in check, as the cardholder can only spend up to the amount loaded onto the card.
For more information on the PayCash NOW Visa Card, or any other stored value card products, please contact Cyphermint Sales at 508-787-4800 or visit www.paycashnow.com.
About Cyphermint
Headquartered in Marlborough, Mass., Cyphermint is a provider of Global Electronic Cash Payment and eCommerce infrastructure/integration solutions. Our core technology, PayCash™ is used in three major areas: (1) Internet Cash Payment Systems, for secure eCommerce services for the un-banked and emerging consumer market, featuring the PayCash NOW™ Visa® Debit Card (2) Kiosk Solutions - delivering Web-enabled highly secure self-service B2C merchandising systems, and (3) The PayCash Retail System featuring our Touch-Screen POS System. Cyphermint's kiosk software solutions provide retailers with secure end-to-end integration to kiosk networks and provides existing kiosk networks with eCommerce capabilities. Cyphermint's core technology, the PayCash System provides un-banked consumers access to financial services such as Internet shopping, bill payment, and debit cards. Cyphermint software solutions provide complete turnkey solutions that deliver secure web-enabled transactional, financial self-service and merchandising services to merchants and consumers.
About BANKFIRST
BANKFIRST is a privately held financial services company with employees across operations in South Dakota, Minnesota, and Arizona. The company provides customers nationwide with deposit accounts and credit card products with premium benefits and features under the Action Card brand. The company also offers ATM sponsorships, and stored value, or prepaid cards such as gift cards, payroll cards, promotional cards, flexible spending account cards, and debt management cards to name a few. For more information, please visit www.bankfirstcorp.com.
