Moneymailme is known as one of the best social payment apps and can be used in over 130 countries. Following the partnership between Moneymailme and Prepaid Financial Services, Moneymailme users will now be able to use both physical and virtual prepaid cards for their banking transactions.

Using the Moneymailme App

Moneymailme is a free and secure chat app which is not only encrypted but also compatible with Android and all types of smartphones. Users simply need to download the app from Playstore and start receiving or sending money at their convenience. There is no subscription fee to use the app and clients can enjoy free transfers for money in the same currency. With Moneymailme, banking transactions are carried out in multiple currencies, including EUR, GBP, USD, CHF, PLN and ZAR. Live exchange rates are also provided before any transaction and money in different currencies can be transferred at really competitive fees.

The Moneymailme app also allows users to message, call, send and receive photos, videos, GPS location and documents. Other functions of this app include video calls, messenger service and an encrypted chat option. Even if the user’s phone is switched off, Moneymailme will send the latter notifications the next time the app will be open.

Moneymailme and PFS Team Up to Launch Prepaid Cards

Prepaid Financial Services (PFS) is a paytech provider that specializes in award-winning payments technology and offers a wide range of banking solutions that include physical and virtual prepaid cards, as well as e-wallets in the UK and the Eurozone.

It has been announced at the Money20/20 Europe conference that Moneymailme, the London-based social money transfer provider has partnered with Prepaid Financial Services (PFS) to facilitate the way that social payments are made. According to Paybefore, a sister publication of Banking Technology, users of Moneymailme will now be able to make purchases and receive funds in their e-wallets, using both physical and virtual prepaid cards.

According to Lee Britton, the PFS Commercial Director, “PFS is delighted to have been chosen to partner with Moneymailme. The Moneymailme proposition will completely change the way social payments are made; the innovative approach and outstanding technology platform have enabled Moneymailme to lead the way. The launch of Moneymailme with PFS today as an important step in enabling social payments to meet the needs and wants of customers globally.”

Using Multiple Currency Wallets

This new project will link Moneymailme to multiple currency wallets. Therefore, every cardholder can have a number of currencies in different wallets. During each transaction, “the money will be debited from the matching currency wallet rather than a traditional base currency card”.

At a press conference at Money 20/20 Europe, Mihai Ivascu, the founder and CEO of Moneymailme claims that these new cards will “provide a valuable spending tool for new and existing Moneymailme users and will be a great option for those wanting to make payments with the money they have in their Moneymailme e-wallets”. Prior to the announcement of this new project, Moneymailme had removed deposit fees for all users so that they can move their money freely.

What People Think About Using Virtual and Physical Prepaid Cards

Now that Moneymailme has canceled all deposit fees, users can carry out micro transactions and other banking payments easily. Mihai Ivascu adds that “social media platforms and easy-to-use technology are incredibly important to young people. As the leading social payment app, we wanted to make sure that we were offering our users a completely seamless solution for them to manage their money. By deciding to remove deposit fees, we are making our platform more accessible for all those seeking a fast, reliable, cheap and enjoyable way to send money to friends and family.” As mentioned in Banking Tech, social money payments have become more simplified on platforms such as Facebook Messenger where users can carry out their transactions without having to leave the app.

As mentioned in Banking Tech, social money payments have become more simplified on platforms such as Facebook Messenger where users can carry out their transactions without having to leave the app.

According to a research, there is a high market potential for e-money transfers and the use of both virtual and physical prepaid cards among its clients. The findings reveal that over 48{8b3f73219b5080a422b1f04099b73d538078b62721cecdfd0086dbdff3438969} of users aged between 18 and 25 believe that using cash for transactions will become outdated within 20 years. Several individuals who were part of this age group also claimed that they wouldn’t transfer money to friends and relatives for under £10.

Money Can Be Transferred Easily Now

Money can be sent and received urgently with Moneymailme, by transferring funds from a smartphone easily. Parents having to send money to their child abroad will find Moneymailme to be very convenient for all their banking transactions. This app also allows users to shop and send gifts to relatives or friends. Chat with them, send seasonal greetings along with instant money transfers as a present. The money transfers can be accompanied with emojis and other features too.

With Moneymailme, money can also be donated to several causes and charity organisations. The social impact of the donations can be followed and tracked through GlobalGiving.

Why is Moneymailme the Best Option for Merchants?

Those looking to expand their business and reach their full potential, Moneymailme’s merchant account is the best option. Not only is it easy to use and manage, but it is the most convenient way to track transactions instead of relying on paper invoices or snail mail. Customers will also be able to enjoy an easy, fun and fast payment solution while buying your products. In addition, Moneymailme allows customers to pay instantly for their purchases.

The process is simple: a form on the website has to be filled and registered, including company and legal representative details. Next, the account has to be verified and specific documents about the company have to be uploaded. The merchant account of Moneymailme requires interested users to hold a valid business license (to validate the legitimacy and legal standing of your company) and a business account (from which applicable fees will be deducted). More than one account may be required to accept e-checks and similar forms of payments.

Moneymailme Offers Complete Security and Privacy

Moneymailme complies with privacy regulation to ensure that the personal data of clients is protected through the latest advanced encryption technology. The complete and individual security settings offer users full control of their money; they can choose to receive confirmations of all the banking transactions on their account by email, online or on their smartphone. An account may be blocked online in case of loss or theft of mobile phones.

 

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Moneymailme is known as one of the best social payment apps and can be used in over 130 countries. Following the partnership between Moneymailme and Prepaid Financial Services, Moneymailme users will now be able to use both physical and virtual prepaid cards for their banking transactions.