Cachet Financial, YellowPepper Provide RDC Service to Latin America (Dec. 12, 2013)
Cachet Financial Solutions, a Minneapolis-based provider of remote deposit capture (RDC) solutions, will be providing consumers in Latin America with RDC services for YEPEX, the mobile banking network of YellowPepper Mobile Financial Network.
Growing economies in Latin American countries and continued penetration of smartphones have led to consumer demand for mobile banking services, according to Cachet Financial, which cites data from Deloitte Consulting Group. Mobile banking usage in Latin America is expected to increase more than 65 percent every year until 2015, the consultancy estimates.
“Across the region, Latin American consumers are increasingly seeking advanced mobile payment solutions that allow them the convenience to purchase goods and services from their mobile phones,” said YellowPepper CEO Serge Elkiner. “By partnering with Cachet, our YEPEX Mobile Banking Network is strengthened to meet our customers’ evolving needs.”
It has been a busy year for Cachet Financial. In 2013, the company launched Select Mobile Money, a mobile money management application and technology platform, and Select Mobile Lending, a white-label mobile application for payday loan processing. The company also has integrated its mobile deposit technology with Ingo Money’s Good Funds Network, and the mobile banking apps of Tyfone and Nitro, among other announcements.