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News Arriba Offers Consulting 07/08 Arriba Introduces Money Services Platform 01/08 AML and Regulatory Expert Joins Advisory Board 09/07 Arriba Forms Advisory Board 07/07 Arriba Attends AMME Annual Convention 07/07 Arriba At Fiesta de Patrias 09/06 Arriba Teams Up With AMME 07/06 Arriba Card, Inc. Formed To Help Hispanic Consumers 04/06
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Arriba Introduces Money Services Platform January 6, 2008 - Arriba Financial Services, Inc. has announced that it will begin marketing the Arriba Money Services Platform in the late spring of 2008. The manufacturer of the platform, Secure Check Cashing Services, designed this to be a best-in-class system that will allow check cashing companies to reduce their risk - and thus their charges to the consumer.
The company researched all available systems and designs before proceeding with Secure Check. "The team at Secure Check is spectacular," continued Mr. Goth. "Gus Brikho has decades of experience in the check cashing industry and has a product that I believe is the best on the market. Even better, they are entrepreneurial like us, and are open to all kinds of additions to the platform. We couldn't have asked for a better partner." "This system validates the customer by taking their picture, recording their fingerprint, and scanning an acceptable ID. The check is scanned into the system and the bank and account can then be verified. We also offer social security lookup and checking account inquiries directly from the platform. Once a customer is registered with the system, they can just walk in, place their finger on the scanner, hand the check to the clerk and collect their money. By reducing the risk to the merchant, we believe that we can dramatically lower the fees charged to consumers - the beginning of the process of saving them money." The platform currently supports check cashing and bill payment, using secure Internet connections to validate identities, checking accounts and make payments. Over 10,000 billers are on the bill pay network. In the future, Arriba plans to add the Arriba prepaid debit card to the platform, along with international money transfer, prepaid long distance and cell phone products, repatriation services, and more. The platform is priced extremely competitively, about one-third the cost of its larger competitors. Arriba plans to offer leasing terms to retailers and will work on co-marketing programs to add traffic to its partners stores. "This is just the first step for Arriba," summarized Goth. "We can now work our way into the market, offering a superior value proposition to both our retail partners and our end-user customers. This system represents our first opportunity to begin revenue generation, and we are very excited about it." |
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"When
we formed Arriba Card, Inc. in 2006, we initially believed that by
offering a superior product with lower costs and more convenience, that
we could win this market over," said Jay Goth, CEO. "However,
after our pre-marketing campaigns, conversations with community leaders
and the input from our friends at AMME, we realized that there will be a
transition period. Instead of expecting rapid adoption of stored value
cards, we needed to meet the market where it currently does
business."