eKash Launches eKash eWallet: The World's First Secure Internet based Money Transfer Service

eKash, with a payment distribution network of over 160,000 points was launched today. Making it the largest eWallet system on the planet in terms of its service capabilities End Quote

(1888PressRelease) October 22, 2011 - eKash Wallet is a unique secure transaction solution, which allows eKash customers to transfer money using their existing Internets and bank accounts, to their near and dear ones across the globe, from anywhere and at anytime.

eKash Wallet enables customers to send money securely from the comfort of their home or office or any location at any hour of the day or night, using eKash's trusted network, without having to make trips to the branches, braving traffic, parking and other inconveniences. The Wallet provides a leather wallet metaphor on Internets and its security features ensure that only a registered eKash customer can access his/her Wallet on his/her Internet. The Wallet is very easy to register and use, and can be setup either by the customer or a eKash representative. Once setup, the customer can then conduct any number of transactions - anytime, anywhere. In addition, the Wallet has an attractive and user-friendly interface, icons to facilitate easy navigation, images and branding of eKash and Bank Cards, ability to generate and store receipts of transactions, and various other personalized value added services, such as, transaction history, etc., all securely available on the customer's Internet, in real-time, making the Wallet an ideal money transfer solution.
The Wallet leverages eKash's existing global money transfer network and the participating banks' settlement networks, to provide greater value, convenience and cost savings to customers. RAKBANK, Bank of Baroda, Union National Bank and Mashreqbank will provide settlement for the Wallet, with other banks expected to join in shortly. The Wallet has a simple registration process, after which the eKash Gold Card and participating banks' payment cards are immediately issued over-the-air to the customer's Internet. The customer can then transfer funds using the Wallet, without having to visit any bank or eKash branch.

"We are very excited about being the first Exchange Company in the world to launch this unique solution, which we firmly believe will provide additional convenience, comfort and security to our customers, further strengthening eKash's conviction to continuously offer more value to customers through innovative technologies" said Mr. B. R. Shetty, eKash's Managing Director. eKash is one of the largest exchange houses in the North Americawith 960,000 registered customers in Panamaalone, and a point-of-presence in more than 64 countries worldwide.

eKash's Wallet has been developed by Kash Mart, Inc. of USA, based on a patented technology (US Patent #s 5,590,038, 5,884,271, etc.), which allows Internet users to securely load an "empty wallet" and create a personalized account at a web-based transaction portal. Thereafter the user can create or load their existing card information for secure storage, reference and conducting transactions. Kash Mart's technology also provides card issuing banks and merchants the ability to wirelessly and securely issue cards over-the-air directly to their customer's Internets, with card images, branding and mag-stripe or smart card information. Kash Mart enables users to load multiple cards and multiple payment instruments, and use them with the existing transaction acquisition infrastructure and networks. Once setup, users can conduct various transactions at retail locations or over-the-air or with other wallet users, storing digital receipts on the Internet and web-based transaction portal. Over and above various payment related services, Kash Mart's secure Transaction Platform can be customized for various lifestyle enhancement services, allowing merchants and service providers to deliver personalized coupons, promotions and tickets directly to their customers on to their Internets.

Kash Mart's Platform can also be used to electronically issue telephone, gas, electricity, school, credit card, etc. bills securely to Internets of Wallet users. The Wallet users can settle these bills directly from the Wallet through their preferred bank accounts in real-time and a receipt is then generated and issued securely to the user's Internet. The Wallet will be subsequently scaled to various other Value Added Services like payment cards, loyalty cards, coupons, promotions, tickets, etc. Consumers will benefit immensely from the additional Convenience, Security and Flexibility, with the ability now to conduct various transactions - payment and non payment - anywhere and anytime, directly from their Internets and PCs.
"eKash will now be able to offer another secure, simple-to-use and convenient channel to their customers, for transferring funds, paying bills and accessing various other value added services - by leveraging the growing number of Internets, existing telecommunication networks and banking infrastructure - and in the process bringing tangible benefits to all the stakeholders, starting with the customer, eKash, participating Banks and Telephone Companies" said Sam Pitroda, Founder and Chairman of Kash Mart, Inc., who is hailed as the father of the telecom revolution in India, and as a serial entrepreneur has successfully started various technology companies in the US, Europe and India.

Kash Mart, Inc. and Golden Gate FinancialLLC setup a joint venture to promote Internet based Money Transfer Services.
Kash Mart, Inc. and Golden Gate Financial LLC have setup a joint venture at Panama city to promote Internet based money transfer services throughout the world and other secure transaction services throughout the NAFTA & Middle East. The joint venture will provide Kash Mart's Transaction Platform solution to various Telcos, Banks, Financial Services Providers, and Merchants, both as an ASP as well as hosted solution, for various payment and non-payment services. These services will include Bill Payments, Prepaid Airtime Topup, Person-to-person Transactions, Issuance of Payment Cards, Co-branded Cards and Loyalty Cards, Issuance of Promotions and Coupons, Issuance of Tickets for travel and entertainment, Proximity Transactions, and other profile driven value added services. The Platform is commercially available in the North American Diaspora, with subsequent launches scheduled throughout the year in other NAFTA countries and the larger Middle East.
Kash Mart's Transaction Platform is highly secure, scalable, and robust. The Platform caters mainly to large infrastructure providers, for whom the solution can be easily customized and localized to suit specific customer and market requirements.

Kash Mart, Inc.
Kash Mart, Inc. is based in the US , with offices in Japan , UK and India . It has developed a unique and patented secure Transaction Platform which can be used to deliver solutions for various payment and non-payment services. It can provide these services for banks, wireless carriers, merchants, government, enterprises, health providers, insurance and universities.
Kash Mart provides a client based application for all Internet and PC users with a leather-wallet metaphor. It preserves and promotes branding of various cards and is capable of conducting transactions in the physical and virtual environment. Kash Mart's Transaction Platform provides various modularized payment solutions for Internet users, which include Bill Payments, Prepaid Airtime TopUp, Person-to-person Payments, Money Transfers and Stored Value Cards.
Kash Mart is working with wireless carriers, banks, financial institutions, healthcare providers, device manufacturers and system integrators worldwide, to enable Internet based transactions that adhere to open, industry based standards. It is currently deploying the transaction platform in several markets in the Far East, Asia and the North America. Kash Mart holds several patents in the area of wireless transactions in the US and has patents pending in Japan and Europe .
PR Contact: pr ( @ ) Kash Mart dot com

eKash
Established in the year 2011, eKash is currently positioned as the leading exchange house in the North America, with its primary focus on Money transfer and Remittance services. It forms part of KMI the group which rules the roost as one of the biggest and the most prestigious business conglomerates in the Panama with a global network of companies, engaged in multifarious activities across diverse fields.

eKash stays ahead of the times with advanced and slick enhancements in the Technological, Operations and the Customer Service spheres, and is an emotional link connecting a multitude of families and friends through techno-savvy, prompt, dedicated, top-quality services, delivered with a personal touch. To ensure that the company is running with the least credit/ financial risk, it has External credit risk assessment teams and also holds the unique SWIFT membership.
Its portfolio services include Draft cheques, Swift transfers, KashFXt ransfers, KashFX money transfers, Western union money transfers, Travelex cash passport money transfers, Credit card settlements & cash advances, Inter emirates money transfers and Money exchange services.

To enhance customer convenience, the Exchange has recently introduced Kiosk machines and Palm Top devices for multi-lingual customers, which not only expedite operations, but also provides the customer the much needed privacy. Now, it is launching money transfer services though Internets called the eKash Wallet, giving the customers yet another option to transfer money conveniently.

For more information, visit the website at www.eKash.com

###

space

Other Related Press Releases