PALO ALTO, CA--(Marketwire - Mar 27, 2012) - m-Via™, the company revolutionizing how families save and share their wealth, today announced a new low-cost pricing model for its Boom service that will benefit how the unbanked save, share and spend their money. Along with introducing this new pricing model, m-Via has joined with Allpoint Network to offer Boom users surcharge-free ATM access at more than 37,500 ATMs, conveniently located at destination retail stores across the United States and Mexico. Allpoint Network, a Cardtronics, Inc. affiliate, is America's largest surcharge-free ATM network.
The new pricing model for Boom users now includes three free cash withdrawal transactions at participating Boom ATMs every month, as well as unlimited surcharge-free access at more than 37,500 Allpoint Network ATMs located throughout the United States and Mexico. Boom users can also text the word "balance" to 22334 to look up their balance or text the word "send" to initiate free person-to-person money transfers.
Boom has a membership-based business model for banking and money transfer that gives users a safe, economical and easy way to send and save money. Boom members in the U.S. pay $25 per year for their membership. Boom members outside the U.S. currently receive their Boom account for free upon receiving money from a U.S.-based member. The Boom yearly membership fee is often less expensive than the market going rate for a single money transfer.
"Boom is now the most cost effective way to save, share and spend money," said Bill Barhydt, CEO of m-Via. "Our goal is to eliminate all transaction fees where possible in favor of a simple, membership-based pricing model for a service that is safe, secure and convenient. We continue to develop new ways to help the unbanked, and our new pricing model now offers our target customer the least expensive banking and money transfer option on the market today."
"Consumers expect convenient access to their account, and to their cash. With Allpoint Network, in addition to being convenient, ATM cash withdrawal transactions are surcharge-free, and that fact makes Allpoint a vital customer acquisition and satisfaction enhancer for any prepaid program," said Ben Psillas, president, Allpoint Network. "And with both Allpoint Network and Boom users on both sides of the U.S.-Mexican border, coupled with Boom's support of person-to-person transfers, Boom account holders can retrieve funds, surcharge-free, at Allpoint ATMs conveniently located at premier retailers in both countries."
Boom customers can find the nearest Allpoint surcharge-free ATM quickly and easily using the free ATM locator provided by Allpoint Network.
To get your free Boom account, visit: www.useboom.com or call 1-888-880-6842.
m-Via has revolutionized how families save, share and spend their wealth on a global scale with its Boom mobile banking and money transfer service for the U.S. immigrant population and their extended families. In 2011 m-Via, together with the U.S. State Department, co-founded the International Diaspora Engagement Alliance (IdEA) to engage Diaspora communities in the United States. Founded in 2008, m-Via is headquartered in Palo Alto, California with offices in Los Angeles and Mexico City.
Allpoint Network is the largest surcharge-free ATM network with over 43,000 ATMs in leading national and regional merchant locations across the United States, Mexico, United Kingdom and Australia. Allpoint provides greater access, convenience and savings to customers of financial institutions while providing institutions the tools to compete more effectively for customers. For more information or to find the nearest Allpoint surcharge-free ATM, please visit www.AllpointNetwork.com. Allpoint Network is an affiliate of Cardtronics, Inc.
m-Via and Boom are trademarks of m-Via. All other brands, products or service names are or may be trademarks or service marks of their respective owners. Boom accounts are issued by CBW Bank.