SOURCE: PreCash

PreCash

November 30, 2011 11:20 ET

PreCash Announces PreCash Secure Payment Services

Company Extends Agency Services to Help Prepaid Stored Value and Other Companies Navigate Regulatory, Compliance and Risk Environment

HOUSTON, TX--(Marketwire - Nov 30, 2011) - PreCash, a leading payments and transaction processing company, today announced the launch of PreCash Secure Payment Services. With its Secure Payment Services, PreCash offers Money Service Businesses (MSBs) agent agreements that ensure compliance with applicable state and federal regulations and include risk management and settlement features. PreCash agents are able to sell, load or unload prepaid debit stored value products and can transmit money for the purpose of prepaid wireless refills and bill payment.

"Payments companies function in a complex regulatory environment with myriad state and federal laws, license requirements and expenses," said Steve Taylor, CEO, PreCash. "As an industry leader in compliance and risk, PreCash Secure Payment Services offers companies operating prepaid retail load networks, non-bank financial institutions and other MSBs peace of mind and considerable savings of both time and money by extending agency to help them navigate this landscape with confidence."

PreCash is MSB licensed in 48 states and has been selling and loading prepaid cards, offering prepaid wireless refills and providing walk-in bill payments as an MSB for nearly fifteen years. The company makes significant investments to rigorously maintain its licensing, develop transaction risk and fraud management systems and staff a dedicated team of experts focused solely on compliance and risk. Offering MSB agency is a natural extension of the company's assets.

"PreCash had the foresight years ago to invest in MSB compliance and risk management to support our own suite of retail payment services," adds Steve. "With best-in-class collection rates we saw the potential of offering agency to partners. We now have customers realizing the value of our services, and we see PreCash Secure Payment Services as a significant growth opportunity."

Details about PreCash Secure Payment Services can be found at www.PreCash.com.

About PreCash, Inc.
PreCash improves lives and business through payments and is a leader in payments services and transaction processing. We help cash-paying and underserved people access mainstream financial services, help financial institutions deliver their customers faster transactions, and help our partners generate revenue and build stronger bonds with consumers. We offer bill payment processing solutions, walk-in payments services, Visa® prepaid card and MasterCard® products and solutions and mobile financial solutions for service providers, financial institutions, consumers, the mobile industry, retailers and more. PreCash serves more than 3 million consumers and touches more than 2 billion dollars in payments annually. Our products are serviced in more than 100,000 retail locations nationwide. Founded in 1998, PreCash is headquartered in Houston, Texas, with additional offices in Portland, Oregon. For more information, visit www.PreCash.com.

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