Cuentas Partners with InComm Payments to Make New Transit Card Available at Hundreds of New York City Retail Locations

Rhea-AI Summary

Cuentas (NASDAQ: CUEN, CUENW) has partnered with InComm Payments to sell transit cards at local retailers in New York City. This collaboration enables riders to easily purchase and reload their transit cards at participating bodegas and shops, enhancing accessibility to the city's public transportation.

The transit cards support full-fare and pay-per-ride options, with additional fare structures planned for future phases. Cuentas aims to serve the Hispanic and Latino communities with its innovative payment solutions.

Positive

• Partnership with InComm Payments enhances retail distribution of transit cards.
• Transit cards improve accessibility for underserved communities in NYC.
• Variety of fare options supports diverse rider needs.

Negative

• None.

Riders can now purchase tap and go transit cards at local bodegas and neighborhood retailers

MIAMI, FL / ACCESSWIRE / March 21, 2022 / Cuentas, Inc. (NASDAQ:CUEN & CUENW) ("Cuentas"), a leading fintech provider of mobile banking and payment solutions focused on Hispanic and Latino communities, today announced that it has partnered with InComm Payments, a leading payments technology company to distribute transit cards (tap and go) at participating retail locations in New York City.

Cuentas, in partnership with InComm Payments and prepaid telecom and digital provider SDI Black 011 (SDI), has integrated with New York City's new fare payment system to enable retail sales and reloads of transit cards.

Transit smart cards are the newest and easiest way for riders to pay for public transportation. They are currently accepted across all subway stations and on all buses, allowing riders to tap and go throughout New York City.

"Everyone needs a fast and easy way to pay for transit fares and making these cards available at retail locations gives all riders better access to the tap and go system," said Jeff Johnson, CEO of Cuentas. "Our payments card technology, together with InComm Payments' transit solutions and SDI's retail software capabilities, are enabling access in this essential retail channel, with more locations to come online in the coming months."

"Transit programs like this need retail locations upon which riders can consistently rely," said Michael Herold, Vice President of Business Development at InComm Payments. "This retail access makes it easy for consumers, especially those who may be cash-preferred, to purchase fares and reload their transit accounts. These local retailers, meanwhile, benefit from the additional foot traffic."

Riders can simply purchase transit cards at retail and then tap and ride at participating New York City transit stations throughout the region. Once purchased, they can reload their existing card at any of these retail locations or in the Cuentas app. Cuentas customers can also use their Cuentas card and account to reload transit cards directly in the Cuentas app.

Transit cards currently support a full-fare, pay-per-ride option, including free transfers. Additional fare options will be available during future phases of the rollout, including reduced fares, student fares, special programs, and more.

About Cuentas
Cuentas, Inc. (Nasdaq: CUEN & CUENW) is a fintech e-banking and e-commerce service provider with proprietary technology that delivers digital financial services to the underbanked and un-banked Hispanic and Latino population. Our products and services expand access to mobile and online banking services including prepaid debit, ACH deposits, access to cash via ATM, peer-to-peer, domestic and international money transfers, add cash at more than 70,000 locations. The Cuentas General Purpose Reloadable (GPR) Card includes a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. Learn more at https://cuentas.com/

About InComm Payments
InComm Payments is a global leader in innovative payments technology. Leveraging dynamic technology and proven expertise, InComm Payments delivers enhanced end-to-end payment platforms and emerging financial technology solutions that help businesses grow across a wide range of industries including retail, healthcare, tolling & transit, incentives, mobile payments and financial services. By enabling omnichannel connections to an ever-expanding consumer base in an increasingly digital ecosystem, InComm Payments creates seamless and valuable commerce experiences across the globe. With three decades of experience, over 500,000 points of distribution, 402 global patents and a presence in more than 30 countries, InComm Payments leads the payments industry from its headquarters in Atlanta, Ga. Learn more at www.InCommPayments.com.

Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as "believe," "plan," or "expect" or similar statements are forward-looking statements.

Media contacts

Anthony Popiel
Dalton Agency
404.876.2800 x 1309
apopiel@daltonagency.com

Nilce Piccinini
InComm Payments
404-935-0377
npiccinini@incomm.com

Investor Relations
Cuentas, Inc.
800-611-3622
info@cuentas.com

SOURCE: Cuentas, Inc.

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FAQ

What is the new partnership Cuentas has announced?

Cuentas has partnered with InComm Payments to distribute transit cards at local retailers in New York City.

What are the benefits of the new transit cards for riders?

The transit cards allow riders to easily purchase and reload fares at various retail locations, improving access to public transportation.

When did Cuentas announce the partnership with InComm Payments?

Cuentas announced the partnership on March 21, 2022.

What payment options do the new transit cards support?

The transit cards currently support a full-fare, pay-per-ride option, with plans for additional fare structures in the future.

How can customers reload their transit cards?

Customers can reload their transit cards at participating retail locations or through the Cuentas app.