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TheStreet Open House

Fastacash™, A Secure Global Social Payments Platform, Announces The Completion Of Series A Funding

Stocks in this article: AWAY

"We are offering a new way of transferring value with just a secure link. People or companies can now share stories, photos and experiences when sending value. Every action of sharing is accompanied by an emotional sentiment," said Vince Tallent, Chairman and CEO, fastacash™.

He added, "Our solution is adaptable across multiple platforms. We are looking to work closely with our partners from different industries to understand the respective consumer behavior and to offer the best use of the link generation technology, which will lead to an enhanced end consumer experience. Our vision is to create a global network by connecting our partners, where moving value can be simple, secure and done across multiple social networks and messaging platforms."  

As the technology enabler who provides the know-how and expertise, fastacash™ will work with companies, including banks, remittance service providers, mobile operators, social networks, gaming companies and consumer brands, to integrate their solutioninto their partners' existing or new systems.

With the completion of Series A funding, fastacash™ will focus on partnerships and the expansion of its global footprint. "The concept of transferring value through social networks is unique and represents huge market potential given the increasing dominance of social platforms in people's lives. The fastacash™ technology is going to change how people transfer value and we are confident that fastacash™, with its experienced leadership team and innovative technology, is entering the market at the right time and poised for great success," said Amit Anand, Managing Partner, Jungle Ventures, a venture firm focused on supporting startups that showcase strong technology and innovation capabilities across Asia Pacific.

At Money2020, fastacash™ also announced the official launch of its services in the United Kingdom. Partnering with UK-based cross-border remittance service provider VFX Financial PLC, fastacash™ will enable cross-border remittance services from the UK to Kenya under its own brand name. With fastacash™, people in the UK can send money to M-Pesa account holders or any bank account holders in Kenya across social networks in a cost-effective and convenient way.

fastacash™ plans to launch in Indonesia and Russia within the year. It has partnered with Indonesian payment service provider (PSP), Doku, a pioneer in the electronic payments industry offering one-stop Internet payment services. In Russia, its partner is international payments and money transfer system, UNISTREAM.

*Alternative ePayment refers to payment    methods that are used as an alternative to  credit card    payments, such as real-time bank transfer, offline credit transfer, direct debits, eWallets, paper-based payments and mobile payments.

About fastacash™

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