Below is our recent interview with Eric Solis, the Founder and CEO at MovoCash:
Q: Could you provide our readers with a brief introduction to your company?
A: MovoCash (MOVO®) is a financial technology company that is radically transforming the payments and digital banking industry and has pioneered a new category: ON-DEMAND Mobile Banking (“ODMB,”) with End-to-End CONTACTLESS Payments. Our platform solution delivers differentiated experiences focused on fraud protection technologies and a comprehensive set of banking and payment features, all in a single app.
● MOVO® is a patented financial ecosystem, whose “Digital Cash” technology called, HyperBIN® empowers the underlying architecture that uses digital payment tokens to deliver real-time bank accounts, debit cards, issuance, activation, secure and settled banking, merchant payment and P2P transactions, all without human intervention, all FDIC insured and ON-DEMAND, within an end-to-end CONTACTLESS technology, redeemable at 45 million merchants and over one million ATMs worldwide.
● With a 250% growth rate from 2018 to 2019 and again from 2019 to 2020, MOVO®’s innovative and patented technology has made MOVO® one of the fastest-growing digital cash networks.
MOVO®’s ultimate goal as a company is to provide quality financial services to anyone, anywhere, anytime and in any currency. Our solutions are tailored to be inclusive and provide an all-in-one mobile app for all of your digital banking, payments and crypto-conversion needs.
Q: Any highlights on your recent announcement?
A: ● MOVO® uses radical innovation to put you in total control of who can access your money and how much, even without previously having a bank account!
● MOVO® is purpose-built on 3 issued patents, for an end-to-end, self-contained financial ecosystem (called HyperBIN® and uses digital tokens). It is designed to be “ON-DEMAND” and “CONTACTLESS” to empower customers to instantly and securely receive, save, send and spend money from their mobile phone.
● MOVO® is a comprehensive set of “digital cash” banking, payment and crypto-conversion features, for consumers, and in the future for businesses as well.
● MOVO®’s 7 core solutions include: MOVO Cash®, MOVO CASH Cards®, MOVO Pay®, MOVO Digital Banking, MOVO Chain®, MOdallion® (in Beta) and MOVO Biz (on our solutions roadmap).
● Already ahead of the curve for years, MOVO® has been providing consumers faster access to their money and greater control over how they can spend it. Whether that be a traditional debit card, sending a P2P payment, making a payment from a mobile wallet, converting it to cryptocurrency (in Beta), or saving it in their bank account – all on one centralized platform. MOVO’s recent launch of the ON-DEMAND Mobile Banking (“ODMB”) app with End-to-End CONTACTLESS Payments is further transforming and redefining the way consumers think about digital payments and what they expect – providing a digital payments solution with top-notch fraud protection and compliance security.
Q: Can you give us more insights into your offering?
A: MOVO®’s ecosystem solution delivers differentiated experiences focused on a comprehensive set of banking and payment features:
● CASH Cards® are first of its kind solution for ON-DEMAND minting of ultra-secure, customizable, single and/or multi-use payment cards, delivering complete control of who gets access to your money and how much. CASH Cards® eliminates card on file fraud and offers smart budgeting capabilities to track, spend and budget only what is needed.
● MOVO Pay® (P2P2P®) is our fast peer-to-peer payments solution that enables users to send digital cash to anyone using an email or mobile number for instant spending, right from the app.
● Compatibility and Interoperability of MOVO® reduces the need for multiple apps. Our platform is compatible with all popular forms of payment and financial apps, reducing the friction to send or receive funds directly.
● At sign-up, customers receive a ready-to-use MOVO Digital Debit Card®, which is automatically activated for use right away everywhere Mastercard® is accepted. There is no activation fee, direct deposit fee or minimum deposit. Customers can load, spend, pay and receive digital cash right from their phone.
● With a digital MOVO® Debit Mastercard®, Tap & Pay feature makes it easy and convenient to pay at contactless capable merchant terminals.
● Load Cash on the Go – Find the nearest Mastercard rePower® locations to easily and conveniently load cash at thousands of stores, or easily transfer funds from another bank account to MOVO® or from PayPal, Venmo, Square, Cash, Google Wallet, and other payment platforms.
Q: What can we expect from your company in the next 6 months? What are your plans?
A: As for the future, MOVO Biz – We are taking our patented HyperBIN® ecosystem to small businesses domestically and around the world. MOVO Biz will use a cloud-based payment architecture designed to eliminate traditional POS transactions and toggles, by creating a Digital Cash Brand Network. This will push payment transactions between consumers and merchants, speeding up payment, settlement, reconciliation, all while reducing chargebacks, disputes and driving down costs across the entire transaction chain with ON-DEMAND and end-to-end CONTACTLESS payments.
Q: What is the best thing about your company that people might not know about?
A: Actually, there are 3 key things to know about MOVO®
1. MOVO®’s CEO and founder, Eric Solis, is a visionary, author and FinTech expert with three+ decades of experience in financial services.
2. MOVO®’s 3 issued patents and 11 pending define and protect its “first-of-its-kind” financial ecosystem technology (called HyperBIN®) upon which 7 integrated banking, payments and crypto-conversion solutions have been built.
3. MOVO® has proven it can compete and differentiate itself in a massive Fintech industry with trillions in velocity (throughput) and tens of billions of dollars in revenue and growing.
MOVO® is reinventing mobile banking as you know it by delivering what no other bank has done by providing End-to-End CONTACTLESS Payments. We are inclusive and welcome all customers – providing them access to their digital cash in real-time, every time. MOVO® offers world-class payment solutions, customer support, security, convenience, low fees, fast transactions, visibility into spending, in one app. To download, visit movo.cash/app. For additional information, please visit movo.cash.