MINNEAPOLIS (10/9/14)--League Service Corporation (LSC), a subsidiary of the Illinois Credit Union League, has selected Cachet Financial Solutions to power LSC's CU Money prepaid mobile application.
LSC is a CUNA Strategic Services alliance provider.
More than 900 credit unions currently offer LSC's CU Money product to their members.
Cachet Financial Solutions' Select Mobile Money is a cloud-based platform that gives mobile device users access to a mobile prepaid charge card account with mobile management features such as check-to-card fund loading and card-to-card transfer. Users also have the ability to access their deposits within minutes using an "instant good funds" feature, instead of the industry standard of three to five business days.
The Select Mobile Money platform will support both LSC's general purpose reloadable and travel card programs. By linking prepaid card programs to the mobile environment, Select Mobile Money creates stickier member relationships and extends the life of the prepaid card.
Cachet's Select Mobile Money platform also provides its clients with analytics and the ability to communicate with end users by push messaging.