Vivipay targets underbanked Hispanic community

Source: Vivipay

ViViPAY (ViVi), a subsidiary of ViVi Holdings Inc. and a leading provider of “Fintech” financial technology solutions, announced today it has signed an agreement with the National Hispanic Christian Leadership Conference “NHCLC”.

Under the agreement, ViVi will offer its financial ecosystem solution with a digital wallet linked to a Mastercard or Visa, that gives parishioners that attend one of the NHCLC’s more than 40,118 million-member churches a low-cost option to a traditional bank account with no credit check.

ViViPAY has developed a complete ecosystem of financial solutions for the unbanked and underbanked populations. According to a 2015 FDIC study, over 40% of the U.S. Latino community are unbanked or underbanked without access to basic financial services that everyone deserves. Members also receive access to Claro mobile services integrated directly into their digital wallet.

The ViVi financial ecosystem is a simple solution to manage money and maintain financial control as it offers convenience, security and ease of use. To utilize the product, the user simply downloads the free digital wallet app and deposits funds to their digital wallet according to their budget. This can be done by depositing a check directly through the app, having their paycheck or government check direct deposited, or by depositing cash at any of the thousands of deposit locations throughout the country. They are then able to use the digital wallet, much like a bank account, to pay bills, transfer money, access health benefits, and even make donations directly from the app.

“The focus of this partnership is to offer solutions that are highly sought after by the NHCLC’s members and offer an easily accessible service for those with little or no credit or who do not have a bank account or credit card, allowing access to basic financial services with additional benefits and rewards,” said Jose Ferreira, CEO of ViVi Holdings Inc.

Customers can utilize their linked ViVi Mastercard or Visa, which can be used in millions of locations worldwide wherever Mastercard and Visa are accepted. It can also be used at ATMs nationwide to withdraw money 24 hours a day. In addition, the digital wallet marketplace offers Claro discount mobile service and free membership to the ViVi discount club, which gives members discounts of up to 50% at over 300,000 locations nationwide and features exclusive savings from popular restaurants, retailers, hotels, theme parks and more, with up to 50% off from America’s top brands and local stores. These discounts are available in the app using the ViVi “Show Your Phone” mobile coupons.

“Via this new sponsorship, VIVI is providing members of the NHCLC with a simple solution to connect them with cutting edge, inexpensive banking alternatives that will empower the community giving them the opportunity to access the basic financial services that everyone deserves” said Samuel Rodriguez the president of the NHCLC.

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