MiCash launches reloadable prepaid debit card with money remittance function

Pre-paid financial service provider MiCash launches a reloadable prepaid debit card with an integrated worldwide remittance function, aimed at unbanked or underserved consumers. The card is particularly targeted at immigrants working in the US who seek to send money home to their families.

The MiCash reloadable prepaid card allows cardholders to make electronic purchases, pay their bills online, make cash withdrawals at millions of available ATMs worldwide and employ such services as free direct deposits and mobile banking. Additionally, the cards can be used to carry out international card to card as well as card-to-cash transfers.

Card-to-cash transfers require that MiCash cardholders set up family members or friends as recipients then proceed to transfer funds to them via an online account or a call customer service. Recipients can take possession of the funds at over 12.000 Bancomer Transfer Services locations in such countries as India, China, Mexico, the Philippines, South and Central America.