PALO ALTO, Calif.--(BUSINESS WIRE)--May 13, 2021--MovoCash, Inc., a California-based Fintech company, announced today the launch of a first-of-its-kind ON-DEMAND Mobile Banking (“ODMB”) app with End-to-End CONTACTLESS Payments in partnership with Mastercard® and Coastal Community Bank. MOVO’s patented ecosystem technology, called HyperBIN®, is built to use digital tokens to manage the convergence of traditional banking solutions with mobile payments, blockchain, distributed ledger, cryptographic and AI technologies.
Our patented ‘Digital Cash’ Brand Network is what every consumer will expect from this day forward,” said Eric Solis, CEO; Founder of MovoCash, Inc. “ODMB will fundamentally shift the way people act and think about digital transactions.”
HyperBIN® delivers real-time bank accounts and debit cards. This includes instant delivery, issuance, activation, secure and settled banking, merchant payment and P2P transactions redeemable at 45 million merchants and over one million ATMs worldwide.
MOVO’s ecosystem solution delivers differentiated experiences focused on a comprehensive set of banking and payment features. CASH Cards® are ON-DEMAND minting of ultra-secure, customizable, single and/or multi-use payment cards, delivering complete control of who gets access to your money and how much. MOVO Pay® (P2P2P®) allows users to send digital cash to anyone using an email or mobile number for instant spending.
“Coastal Community Bank was looking for an innovative digital bank that will take fintech to the next level,” said Eric Sprink, President and CEO of Coastal Community Bank. “We’re thrilled to partner with MovoCash, a digital leader that brings a unique solution with top-notch fraud protection and compliance security to the market. MOVO is changing the payments game, we are excited to join them on this journey.”
Banking services provided by Coastal Community Bank, Member FDIC. The MOVO® Digital Debit Mastercard® is issued by Coastal Community Bank, member FDIC, pursuant to license by Mastercard International. MOVO accounts are FDIC insured up to $250,000 per depositor through Coastal Community Bank, Member FDIC. Fees apply.
MovoCash, Inc. is a financial technology company and creator of MOVO ON-DEMAND Mobile Banking app with End-to-End CONTACTLESS Payments. MOVO offers world-class payment solutions, customer support, security, convenience, low fees, fast transactions, visibility into spending, in one app. To download, visit movo.cash/app. For additional information, please visit movo.cash.
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Source: Company press release.