Mississauga, ON, March 24, 2022 – TruCash Group of Companies Inc., a leading global payments provider, announced that NextBank International, the global banking fintech division of NextPlay Technologies, Inc. (Nasdaq: NXTP), have partnered to launch NextBank Payments. This will facilitate (but not be limited to) Mobile Wallets, Mobile Payments, Credit cards, Debit Cards and Prepaid products. In addition, NextBank can now offer its banking services to TruCash’s millions of account holders worldwide.
NextBank plans to offer its new credit card services to partners throughout the world, operating under a special license that allows customers to bank globally in multiple currencies. The partnership with TruCash enables NextBank to issue cards to customers in nearly every country around the world, further expanding NextBank’s services.
“We chose NextBank as a partner because they solve fundamental challenges faced by all international business like ours,” said TruCash president, Diana Fletcher. “This includes the unification and organization of multiple international banking relationships and various international accounts. NextBank’s ability to extend banking services to multinational and international customers from a safe, U.S.-regulated bank is unique and long overdue in our digitally-connected world.”
Through its unique partnerships with top global networks, TruCash provides customized prepaid Visa® card solutions that offer a full range of payment options, benefits and rewards. TruCash will provide NextBank a comprehensive mobile wallet, which includes (but will not be limited to) debit and credit card infrastructure. This supports the implementation and management of loyalty programs for credit card issuance, merchant acquiring services and worldwide remittance services.
“As an award-winning leader in the space, TruCash is a great partner for launching our first card services,” explained Todd Bonner, chairman of NextPlay Technologies and head of NextPlay’s fintech division. “They bring more than 25 years of experience in financial services along with worldwide coverage that we believe aligns perfectly with our mission and complementary capabilities.”
The new partnership will also involve NextBank providing TruCash customers depository services (subject to customary compliance requirements), as well as commercial loans, residential mortgage loans, micro loans and wire transfers.
We expect that exchanges and digital services providers with customers around the world will benefit from the reach and scope of NextBank’s expanded capabilities once the partnership is fully established. Traditional businesses with international operations will be able to unify their banking through TruCash’s worldwide capabilities with top global networks.
Once implemented, NextBank customers can access NextBank credit card and international banking services via the NextBank Wallet mobile app. An Apple iOS version is available from the Apple store here and an Android version is available here.
These joint offerings from TruCash and NextBank are expected to benefit from the rapidly growing global financial technology market, which is projected to grow at a compound annual growth rate of approximately 25% from 2022 to approximately US$324 billion by 2026, according to a Market Data Forecast.
About NextPlay Technologies
NextPlay Technologies, Inc. (Nasdaq: NXTP) is a technology solutions company offering games, in-game advertising, crypto-banking, connected TV and travel booking services to consumers and corporations within a growing worldwide digital ecosystem. NextPlay’s engaging products and services utilize innovative AdTech, Artificial Intelligence and Fintech solutions to leverage the strengths and channels of its existing and acquired technologies. For more information about NextPlay Technologies, visit www.nextplaytechnologies.com and follow us on Twitter and LinkedIn.
About TruCash Group of Companies
TruCash Group of Companies has more than 30 years of experience in Payments, Loyalty and Banking solutions. TruCash Group, spearheaded the development of Mondex and Visa Cash payment card chip technology, and developed Loyalty programs for Canada’s big banks. TruCash is a pioneer in creating innovative banking products, working with and developing core banking solutions for non-profits, private Companies and governments across the globe. The TruCash Platform enables companies to easily launch and manage multiple reward, incentive, payment and loyalty programs with increased speed and flexibility. For more information about TruCash Group of Companies, visit http://www.trucashuniverse.com/ and follow us on Instagram @trucashuniverse and LinkedIn.
SOURCE: NextPlay Technologies, Inc.