• Aug. 20, 2017, 9:33 pm

Pin4 buys majority stake in HalCash International

 

Independent cashless card network Pin4 has purchased a majority equity ownership stake in HalCash International, the companies announced today.

Pin4 is the United States operating brand of HalCash North America, and was formed in 2015 to bring the HalCash system to the United States. HalCash International is based in Madrid, where a group consisting of ABANCA, Bankinter, Banco Popular, Cajamar and Caja Laboral developed their patented, mobile phone-based technology enabling careless cash withdrawals at ATMs with the need of bank accounts or credit or debit cards. The system is protected by a patented dual-PIN authorization process.

In a release Pin4 said the acquisition allows for an accelerated growth strategy that will grow the system into a global careless cash network.

“This expansion turns ATMs into mobile money terminals by combining the 4.8 billion global mobile phone users with the 3 million globally deployed ATMs.”

The HalCash system provides access to more than 8,000 Spanish ATMs and is used by corporate clients to deliver real-time payments. The system is expected to cross the 1,000,000 annual transaction threshold this year.

“Today’s consumers are both mobile-centric and global,” Pin4 CEO Richard Witkowski said. “The ability to disburse funds to this consumer base regardless of card and bank status is invaluable to our customers—from retailers and marketing companies to banking institutions and remittance companies. Pin4 was built to meet this need. And, now, we are properly positioned to rapidly take this capability global.”

Richard Witkowski

Richard Witkowski

 

 

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