LAS VEGAS, NV -- (Marketwire) -- 11/20/12 -- Security First International Holdings, Inc. (PINKSHEETS: SCFR), a leading provider of mobile financial products and services for consumers, is targeting the well-positioned American Express Prepaid consumer market as M-Cash moves to stake a claim in the growing industry of reloadable prepaid card funding providers.
The announcement marks an important position for the company, which is the first of its kind to provide a convenient way for consumers to securely fund prepaid re-loadable cards without needing cash -- directly from an Android mobile device carrier bill.
American Express, known for catering to a more affluent clientele with its signature green charge cards, has successfully attracted a broader swath of consumers with the launch of its Reloadable Prepaid card in mid-2011, and recent union with Walmart offering reduced service fees through its Bluebird initiative. The M-Cash "no cash" funding gateway will represent an alternative to cash for many types of customers, primarily the 25% of US households, accounting for nearly 43 million of under banked people.
"M-Cash is for everyone," said Brian Fowler, President. "We understand the 'sea change' that is occurring in banking, the cost impact to consumers of traditional checking accounts and how this has driven the emergent market of reloadable pre-paid cards as a viable alternative to such basic checking accounts. It's a very large market that spans demographics."
Reloadable pre-paid cards provide security, credit-building initiatives and convenience to consumers who lack full access to traditional checking and savings accounts. However, prepaid card are currently limited to cash and credit re-load options. M-Cash will attract consumers with the convenience of facilitating a cashless reload, representing an alternative to cash for many customers. M-Cash plans to capitalize on the market of issuers reporting an excess of $120 million in cardholder fee revenue on 524.5 million transactions, in 113 card programs.
"We are very excited to have been approved as an American Express Affiliate Reload Partner. We've seen the rapid growth of Amex prepaid card holders and identify M-Cash as a perfect fit in this market," says Teresa Ambroz, CEO.
The company's M-Cash mobile reload service is a convenient way for consumers to securely fund prepaid reloadable cards with any Android mobile device direct carrier bill, and is available to all American Express prepaid card holders through Google Play for a onetime charge of $4.95.
About Security First Holdings International Inc. (PINKSHEETS: SCFR)
Security First Holdings International Inc. (PINKSHEETS: SCFR) creates innovative possibilities that extend Security First International Holdings is a company focused on providing innovative financial payment products and services to consumers globally. We provide new possibilities for the mobile commerce market through technology and platforms that will create a meaningful financial impact on all consumers. Through a mobile technology that works in combination with Android devices, direct carrier billing and prepaid reloadable cards; Security First International Holdings, Inc. is re-defining the conventional application of funding sources for prepaid reloadable cards.
A technology company redefining mobile shopping, Security First International Holdings, Inc. is bringing together alternative consumer financing solutions designed to create a consumer mobile shopping lifestyle that is a more connected, powerful experience.
Our mission is to be the leader in innovative consumer financial products.
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