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PALO ALTO, Calif. -- m-Via announced its launch of Boom, a new mobile money service that allows unbanked and underbanked members to make transfers from $5 to $5,000 through their mobile phones. Members can also make purchases and withdrawals at Boom merchants and Boom ATMs.
Boom's partner network includes 7-Eleven Inc. powered by PayNearMe, Allpoint ATM Network, PayXchange and Mexico's Diconsa retail network. Members will have access to 15,000 U.S. cash load locations, and more than 150,000 Boom ATMs in the United States and Mexico, according to Boom.
"The beauty of m-Via's solution is that while it is complex behind the curtain, it's incredibly simple for consumers to use," said Jesus Delgado-Jenkins, 7-Eleven's senior vice president of merchandising, marketing and logistics. "This service with m-Via is another first -- and a very convenient way for our customers to share money using any cell phone."
m-Via CEO Bill Barhydt added, "Traditional money transfer services are unsafe, expensive and inconvenient for recipients who have to travel to pick up money. Our core consumer is a hard-working immigrant who sends money home to support their extended family. They are the last person who should be forced to pay exorbitant fees for money transfer services. Boom is a breakthrough service that addresses these problems by leveraging new mobile and banking technologies, and a massive agent and ATM network, combined with a consumer experience that is simple, secure and even fun."
Free Boom account registration is available at www.useboom.com.