KyckGlobal Partners with MetaBank and MoneyGram to Provide Gig Economy Payments to the Underbanked
ATLANTA, Nov. 12, 2019 /PRNewswire/ -- KyckGlobal, Inc. has partnered with MetaBank®, a wholly-owned subsidiary of Meta Financial Group, Inc.® (Nasdaq: CASH) (“Meta”), and a federally chartered savings bank headquartered in Sioux Falls, South Dakota, and MoneyGram International, Inc., a global provider of innovative money transfer and payment services, to offer an array of innovative disbursement options to underbanked individuals. KyckGlobal will serve as the front end and customer acquisition vehicle; MoneyGram will be the exclusive provider of cash pickup for payees, while MetaBank will sponsor the program. Verticals for initial solicitation will include the specialty consumer lending market and multi-level marketing (“MLM”) companies.
KyckGlobal is a next-generation platform that provides access to a robust array of popular payment types. KyckGlobal will add value to the groundbreaking partnership by consolidating multiple types into a single point of settlement, and through the provision of its exclusive arrangement with MoneyGram. MoneyGram has roughly 350,000 agent locations around the world; KyckGlobal is headquartered in Atlanta, GA.
“The Federal Reserve Bank estimates there are 55 million unbanked and underbanked adult Americans,” said Ashish Bahl, CEO and founder of KyckGlobal. “The growing gig economy has ushered in a host of new payment options that can meet the needs of the underbanked, where traditional banking has fallen far short. That’s precisely the purpose of our new partnerships with MoneyGram and MetaBank.”
“Meta is committed to supporting financial literacy and products that help move people toward financial freedom,” said MetaBank EVP and Head of Payments Sheree Thornsberry. “This exciting partnership with KyckGlobal will lift up the millions of Americans that do not have access to the kinds of financial products and services that many of us take for granted.”
“This partnership provides precisely the kind of opportunity MoneyGram looks for to expand choice among new and existing customers,” said Alex Holmes, CEO and chairman of MoneyGram. “KyckGlobal is an invaluable partner in reaching this group of consumers who may need more options for sending and receiving money, both digitally and in-person.”
KyckGlobal helps companies streamline outgoing payments with a next-generation cloud-based platform that delivers a robust array of the most popular payment types – all with a single point of reconciliation. The KyckGlobal solution automates IRS compliance, promotes customer loyalty, and improves employee retention. Founded in 2018 by fintech executives and entrepreneurs, KyckGlobal is headquartered in Atlanta. For more information, visit www.kyckglobal.com.
About Meta Financial Group
Meta Financial Group, Inc.® (Nasdaq: CASH ) is the holding company for the financial services company MetaBank® (“Meta”). Founded in 1954, Meta has grown to operate in several different financial sectors: payments, commercial finance, tax services, community banking and consumer lending. Meta works with high-value niche industries, strategic-growth companies and technology adopters to grow their businesses and build more profitable customer relationships. Meta tailors solutions for bank and non-bank businesses, and provides a focused collaborative approach. The organization is helping to shape the evolving financial services landscape by directly investing in innovation and complementary businesses that strategically expand its suite of services. Meta has a national presence and over 1,200 employees, with corporate headquarters in Sioux Falls, S.D. For more information, visit the Meta Financial Group website or LinkedIn.
About MoneyGram International, Inc.
MoneyGram is a global leader in omnichannel money transfer and payment services that enables friends and family to affordably, reliably and conveniently send money for life’s daily needs in over 200 countries and territories.
The innovative MoneyGram platform leverages its leading digital and physical network, global financial settlement engine, cloud-based infrastructure with integrated APIs, and its unparalleled compliance program that leads the industry in protecting consumers.
For more information, please visit www.moneygram.com.
SOURCE Meta Financial Group, Inc.