SOURCE: Zenbanx

Zenbanx

November 12, 2015 09:00 ET

Consumers Send 14 Greeting Cards a Year and Include Cash up to 78% of the Time

E-Cards Popular for Recipients Living Internationally

REDWOOD CITY, CA--(Marketwired - November 12, 2015) - Today, Zenbanx released a survey that shows people who use e-cards are twice as likely to be gifting money internationally than people who continue to use paper cards. The findings come from a new holiday survey of more than 1,000 people (18+) who were polled about their giving and receiving experiences.

The survey results show that people send an average of 14 cards per year and 78% of the time that includes cash when sending cards. E-cards are most popular for birthdays, especially adult birthdays (32%), to congratulate someone (20%), just because (17%) and as a thank you (17%). The survey also found that people prefer to give a gift rather than receive one, 79% prefer to give and 21% prefer to receive. People prefer to give gift cards or cash (65%) compared to giving a tangible gift (35%).

Birthdays and Christmas/Hanukkah are the top gift giving and receiving occasions. In terms of gifting cash, it is most frequently given to kids, mainly ages 10-19 (65%). Of the survey participants, 46% preferred to receive cash rather than a gift card or tangible gift as it allows them to choose what they like (58%), convenience (25%) and save (16%).

The survey findings coincide with a new feature within the Zenbanx app that gives people the ability to send an e-card together with cash. The e-card can be occasion specific and allows the recipient to open it immediately and respond back via mobile. The recipient can then deposit the money into their bank account. 79% of the people surveyed were very interested in the e-card concept.

"A greeting card that includes money and can be sent electronically combines tradition, convenience and security," commented Arkadi Kuhlmann, CEO and Founder of Zenbanx. "With Zenbanx's themed icons, customers can celebrate birthdays, holidays, anniversaries and a host of other occasions by sending cards with money, letting the recipient choose exactly the gift they want."

The majority of the people polled expressed an interest in both sending and receiving E-cards, as E-cards were convenient, instantaneous and would save them money on postage.

Methodology

The survey was conducted by C+R Research in the US from October 21-23, 2015, and included over 1,000 participants.

About Zenbanx:

Zenbanx is a financial technology provider that offers mobile, multi-currency accounts through relationships with regulated financial institutions. A Zenbanx account enables customers to hold balances denominated in up to five of the nine currencies offered in a single account and conveniently and securely exchange among currencies and transfer funds domestically or internationally for a flat rate -- all from their mobile. Zenbanx accounts in Canada are offered by DUCA Financial Services Credit Union Ltd. (DUCA), in Toronto, and will be available in Q4 in the US through a strategic alliance with WSFS Financial Corporation. All customer funds held in a Zenbanx account are subject to the security and insurance protections of a regular bank account.

Zenbanx was founded in 2012 by Arkadi Kuhlmann (former CEO and founder of ING Direct Canada and USA) to make money global, mobile and secure. Zenbanx is backed by significant investor funding and co-founded by seasoned executives from the banking, foreign exchange and financial technology industries. Incorporated in Delaware, Zenbanx has offices in Wilmington, Delaware; Redwood City, California; and Toronto, Ontario. For information about the Zenbanx account, visit www.Zenbanx.com.

About WSFS Financial Corporation

WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the largest and oldest bank and trust company headquartered in the Delaware Valley with $4.9 billion in assets on its balance sheet and $9.4 billion in fiduciary assets, including over $1 billion in assets under management. WSFS operates from 56 offices which are located in Delaware (45), Pennsylvania (9), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking and trust and wealth management. Other subsidiaries or divisions include Christiana Trust, WSFS Investment Group, Inc., Cypress Capital Management, LLC, Cash Connect®, Array Financial and Arrow Land Transfer. Serving the Delaware Valley since 1832, WSFS is the seventh oldest bank in the United States continuously operating under the same name. For more information, please visit wsfsbank.com.

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