Cuentas Signs Exclusive Agreement For International Bill Pay Services from USA To Mexico

MIAMI, FL / ACCESSWIRE / November 24, 2020 / Cuentas, Inc. (OTCQB:CUEN) ("Cuentas"), a leading FinTech provider of mobile banking and payment solutions who is serving Hispanic and Latino communities, signed a 5 year exclusive agreement with Corporación en Investigación Tecnológica e Informática, S.A.P.I. de C.V. (CITI-SAPI), a Master Bill Pay Provider in Mexico for payments initiated from Cuentas Mobile App Cardholders in the US to allow Mexican Americans living in the US to pay major utilities and other bills for their families living in Mexico on a Non-Contact basis, without having to receive cash nor make lines at the utility payment centers.

This agreement will revolutionize the way Mexicans living in the US can support their families back home by using the Cuentas Mobile App to make major Non-Contact Bill Pay services so people living in Mexico do not have to make lines to receive cash and then make other lines to pay the bills, saving fees while avoiding the risks of cash in their pockets.

The following Bill Pay services in Mexico are among the most widely used and are already connected via API between Cuentas and CITI-SAPI: CFE (electricity) , TelMex (landline), TelCel (postpaid), TelNor, Gas Natural, AT&T (postpaid), Telefonica Movistar (postpaid), major cable & satellite providers such as IZZI, Sky/VeTV and Dish Network as well as water bills.

Cuentas is also in the final stages to complete its agreement with a leader in major cross-border money transfers that will help the same population to combine International Money Transfers with International bill pay to Mexico in the Cuentas Mobile App. For more information, please see the 2020-Q3 SEC 10Q report recently filed. https://cuentas.com/cuentas-2020Q3.pdf

"I am very pleased after working for many years in the Mexican market, to team up with CITI-SAPI to help improve the Mexican lifestyle tremendously to allow them to pay major bills on a Non-Contact, Real-Time basis which is very important during this COVID-19 pandemic," stated Arik Maimon, co-founder and CEO. "This, for me was by far my biggest life mission to support our friends in Mexico and improve their lives dramatically. VIVA MEXICO!"

"The ability to have a corresponding partner in the US to combine and facilitate International Bill Pay together with International Remittances for the largest corridor in the world, which is from the US to Mexico, is a tremendous achievement and should help to improve the quality of life of Mexican residents," stated Humberto García Marín, CEO of CITI-SAPI. "The fact that we are negotiating for a deeper relationship to provide cross-border financial and everyday services to people in the US and in Mexico gives us great hope for the future".

The parties are in continued negotiations to solidify their relationship whereby Cuentas would license the Cuentas brand for use by the Mexican group who is planning on offering a Mexican Bank-issued prepaid debit card and other services for residents of Mexico.

The Cuentas Mobile App and Cuentas Prepaid Mastercard® services provide a comprehensive financial solution for the unbanked, underbanked and underserved U.S. Hispanic & Latino community, providing access to the U.S. financial system to those who are unable to open a traditional bank account or prefer not to bank at a traditional financial institution while enabling greater functionality than a traditional bank offers.

About Cuentas

Cuentas, Inc. (OTCQB: CUEN) is an e-banking and e-commerce service provider with proprietary technology aimed at providing solutions for the underbanked and un-banked Hispanic and Latino population. Its services include, but are not limited to, mobile banking, online banking, prepaid debit, ACH and mobile deposits, cash remittance, peer to peer money transferring, and providing access to bank accounts for customers who previously could not obtain bank accounts. The proprietary Cuentas General Purpose Reloadable (GPR) Card provides holders with a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. For more information, visit https://cuentas.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 including that we will meet the standard for listing on NASDAQ or successful in our launch of the Cuentas GPR card and mobile app. 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.

Investor Relations

Cuentas, Inc.
800-611-3622
info@cuentas.com
CITI-SAPI
Sendero Sur 285, Col. Contry, Monterrey, NL 64860, Mexico
Tel: +52-81-1001-0460

SOURCE: Cuentas, Inc.

ReleaseID: 618171