Unified Signal / Valorus’ white label fintech solution allows companies to issue secure branded mobile wallet/virtual bank accounts with physical and virtual Visa debit cards to customers and employees.
AUSTIN, TX – January 15th, 2020 - Valorus, the technology company that helps enterprise-level organizations expand their brand into financial services, launched today enhanced features to its white label fintech solution that include the world’s first Worldwide Virtual Debit Card, allowing international customers all over the world to buy goods and services online. Valorus is the first company in the world to offer this type of program, having worked for more than a decade with banks and Visa to support this product.
More than $500 Billion was sent from individuals across borders to friends or family in 2018, according to the World Bank, and that number is expected to increase in 2020. "The cost of sending that money is very high with average costs of 7-11 percent,” said Paris Holt, CEO of Valorus Technologies. “We are revolutionizing these international money transfers and remittances with zero cost, and we’re giving companies a way to offer that service to customers and employees with a branded, white-label offering."
Other new features include the ability for primary debit card holders to quickly add up to five personalized companion cards that can be provided to family members located anywhere around the world. Companion card customers have their own balance and can manage their own account which is also linked to their own personalized mobile wallet account.
Since its inception, Unified Signal and Valorus has onboarded and launched more than 150 brands and millions of customers with its technology solution over the past 12 years, allowing companies to seamlessly issue a branded mobile wallet/virtual bank account to customers and employees; enable customers and employees to send funds both domestically and internationally in real time, eliminating the need for Western Union and MoneyGram; create a person-to-person payment offering where customers and employees can transfer, pay, and request money; eliminate payroll fees and reduce merchant processing fees; allow customers to quickly and securely purchase goods and service online as well as finance existing products and services; reduce or eliminate credit card processing fees; and much more.
The Valorus mobile wallet platform interops with multiple payment technologies and financial institutions around the world via the Valorus MCN (Mobile Clearinghouse Network) allowing for extremely secure, seamless, and real-time money movement for companies and users of the mobile wallet domestically and across borders. Valorus also includes multi-layered AI based security to ensure that customer’s information does not fall into the wrong hands, including secure encryption and multifactor authentication; its proprietary AFIDS (AntiFraud and Intrusion Detection System); and AES 256bit encrypted data layers embedded within a highly secure SSL layer.
"We did the hard part of creating a powerful FinTech solution, so companies don’t have to,” said Paris Holt, CEO of Valorus Technologies. “We developed all the software and hardware, created the virtual machines, ran through vigorous security screening and assessments, negotiated with major financial institutions, and tested the FinTech solution in the market. We did the R&D, so companies can have a branded fintech solution ready for customers and employees can launch to market quickly and cost efficiently."
Designed for large retailers, hospitality companies, gig economy platforms, service providers such as wireless MVNOs, HR/payroll, labor platforms and more, Valorus also helps companies develop a customer adoption playbook and marketing plan to ensure success, including a suite of value-added offerings such as loyalty programs, music streaming, wireless and wellness service enablement – all customized to add the most value to a company’s customers and employees. With Valorus, companies can generate new recurring fintech revenue streams, averaging $3-$5 per user per month, provide a better deal on financial services their customers already use, drive greater brand loyalty and create additional in-person and online traffic. For more information, please visit www.valorus.com
Valorus is a joint venture between Carnegie Technologies, an umbrella company incubating and delivering innovative products and services and creating new markets in the technology landscape, including Fintech, IoT, Satellite, Communications, Mobile Entertainment, Music Streaming and more; and Unified Signal, which first developed a powerful mobile wallet and virtual bank for the United States Department of Defense to military specifications and since has served million other customers and has enabled more than 150 brands to launch a variety of offerings over the past 20 years. The Valorus white-label fintech solution provides companies with an enterprise-grade fintech platform that is secure, cost-efficient and easy to use. The suite is interoperable with virtually all global payment platforms via the Valorus MCN (Mobile Clearinghouse Network), making it a highly cost-effective option for consumers looking to manage their money online and move money for free and in real-time to loved ones abroad.