MovoCash, a California-based fintech company, is enhancing their customers’ on-demand banking experience with the addition of new money movement options enabled by Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology.
MOVO is revolutionizing payments by empowering customers to deposit, pay, receive, save, send and spend money in seconds, as well as mint and convert cryptocurrency to U.S. dollars, all from their mobile phone. Via a self-contained ecosystem, MOVO delivers a comprehensive set of “digital cash” financial solutions on-demand, all in a contactless environment.
“At MOVO, it is our mission to help connect everyone with secure, convenient and affordable digital banking solutions by providing them with a fast and easy way to access their funds on demand,” said Eric Solis, Founder and CEO of MOVO. “Working with Fiserv allows us to offer card, payment and network solutions under one digital roof, which translates into intuitive, convenient, secure solutions for today’s mobile banking consumer.”
MOVO will enable a range of money movement options with solutions from Fiserv. These include the expansive Accel® debit payments network from Fiserv, which will facilitate increased portfolio profitability and growth while enabling funds access and payments transactions for customers in a matter of seconds.
Customers will also have access to over 37,000 surcharge-free ATMs in convenient locations throughout the United States via MoneyPass® from Fiserv. This will enable MOVO to offer customers the ability to access cash at ATMs with the benefit of avoiding surcharges.
MOVO recognizes that customers increasingly prefer to interact with their primary banking service provider via digital channels, particularly via mobile devices, and understands the traditional debit card is another gateway for customers to access their cash. With this in mind, Fiserv will provide a complete suite of card products and services — card manufacturing, personalization, and fulfillment — a tangible reminder of the relationship between customer and fintech. The ability to handle large capacity production and get physical cards in consumer’s hands quickly will help MOVO to secure top-of-wallet positioning.
“MOVO is shaping a reimagined and immersive financial services experience by delivering on-demand fintech solutions through the channels in which their customers prefer to interact,” said Himanshu Patel, head of Card Services at Fiserv. “We look forward to kicking off our partnership with the MOVO team to support their mission of delivering the personalized financial services experience people expect from a next-generation digital banking provider.”