AUSTIN, Texas–(BUSINESS WIRE)–MOCA, a digital-first next-generation card-based payment platform provider, at present introduced a strategic funding from Woodforest Monetary Group, Inc. and an affiliated entity. Proceeds from the $3,000,000 Collection B funding will enable MOCA to extend its attain domestically in addition to develop its present footprint in The Caribbean and Latin America. Woodforest Monetary Group, Inc. is the father or mother firm of Woodforest Nationwide Financial institution, headquartered in The Woodlands, Texas.
MOCA’s Digital-First Subsequent-Technology Card-Based mostly Cost Platform permits neighborhood banks and credit score unions in addition to choose fintechs to supply a versatile, best-in-class fee resolution to their prospects. Along with EMV-enabled contactless playing cards, MOCA’s system permits cardholders to create digital playing cards on demand, challenge supervised playing cards to members of the family, provision playing cards to their favourite digital pockets, and make real-time P2P funds. A cardholder can create purpose-driven playing cards, resembling a card for on-line purchases and even create a separate card for every on-line payee. Cardholders may also benefit from Mia, MOCA’s browser-based on-line fee assistant, to create single-use card numbers instantly from a service provider’s web site utilizing a proprietary browser plugin.
“We instantly acknowledged the advantages to neighborhood banks, credit score unions, and their prospects of MOCA’s next-generation fee platform,” mentioned Andrew Paur, Government Vice President and Chief Working Officer of Woodforest Nationwide Financial institution. “In the present day’s account holders demand superior and versatile methods to deal with their cash. MOCA gives that and extra. Their administration workforce’s deep and profitable expertise growing and promoting merchandise to neighborhood monetary establishments was additionally a major think about our funding choice.”
MOCA plans to make use of the funding proceeds to boost its state-of-the-art fee resolution, construct out its workforce, develop its gross sales attain, and guarantee best-in-class customer support.
“MOCA couldn’t ask for a greater associate than Woodforest Monetary Group,” mentioned John Burns, CEO of MOCA. “This strategic funding will enable us to proceed to construct out our workforce and considerably ramp up gross sales. We’re honored for the boldness Woodforest Monetary Group has proven in us as we enter the subsequent section of our progress.”
About Woodforest Monetary Group
Woodforest Monetary Group, Inc. is the father or mother firm of Woodforest Nationwide Financial institution, headquartered in The Woodlands, Texas. Celebrating greater than 40 years of neighborhood banking service, Woodforest Nationwide Financial institution has efficiently stood among the many strongest neighborhood banks within the nation, proudly providing excellent customer support since 1980. Woodforest at the moment operates over 760 branches in 17 states throughout the USA and is an Excellent CRA rated establishment. For extra details about Woodforest Nationwide Financial institution, please go to www.woodforest.com.
MOCA, headquartered in Bastrop, Texas is a fintech firm based and managed by neighborhood monetary establishment and fee business veterans. With effectively over 100 years of business expertise, MOCA’s principals have been offering innovative monetary merchandise to neighborhood banks and credit score unions for many years. Our Why is straightforward: We consider individuals shouldn’t have to decide on between the non-public, localized service a neighborhood monetary establishment can provide and best-of breed monetary merchandise. We consider you’ll be able to have each. For extra info, please go to mocapay.com.