Cuentas announces the launch of its Cuentas Mobile service and signs distribution agreement to sell its telecommunications, fintech and value-added products in selected markets. Activates its expansion plan targeting multi-billion dollar hispanic diaspora telecommunications market.
MIAMI BEACH, Fla., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Cuentas, Inc. (Nasdaq: CUEN & CUENW), the developer of an alternative financial ecosystem for the underbanked, is excited to introduce its Cuentas Mobile telecommunications services in designated markets and initiate a partnership with a well-established retail distribution network. The launch of our telecommunications services is a significant milestone in the ongoing execution of Cuentas' strategic plan and product development.
Under the terms of the comprehensive agreement, its new distribution partner will initiate an initial order of 5,000 SIM cards. In addition to this, Cuentas is poised to offer cross-selling opportunities for its domestic and international mobile service top-up, gift cards, and transit cards. The company anticipates an estimated annual revenue of $4 million from this agreement. Its expansion plans will extend to new geographic markets, with a strong focus on serving Hispanic diaspora clients, providing them with a tailored and competitive product.
Moreover, Cuentas will incorporate the cutting-edge digital and mobile protection software of WHEN Group (World Health Energy Holdings, Inc. – OTC Pink: WHEN), branded as "Cuentas 360." This software will provide an advanced layer of security, encompassing digital and mobile application scanning and protection, catering to groups of up to five lines within a family plan. It's worth noting that "Cuentas 360" is a core component of the software package included in our forthcoming planned acquisition of WHEN Group, which was recently announced.
Mr. Arik Meimoun, CEO of Cuentas stated: “I am proud of this achievement. This marks a turning point for the company and a successful milestone for our team. We have worked hard to launch this service and we are ready to go into new markets. I will announce new agreements and mark presence over the next couple of weeks.”
About Cuentas
Cuentas, Inc. (Nasdaq: CUEN & CUENW) is creating an alternative financial ecosystem for the growing global population who do not have access to traditional financial alternatives. The Company’s proprietary technologies help to integrate FinTech (Financial Technology), e-finance and e-commerce services into solutions that deliver next generation digital financial services to the unbanked, under-banked and underserved populations nationally in the USA. The Cuentas Platform integrates Cuentas Mobile, the Company’s Telecommunications solution, with its core financial services offerings to help entire communities enter the modern financial marketplace. Cuentas has launched its General Purpose Reloadable (GPR) Card, which includes a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. In Q1 of 2023 Cuentas launched Cuentas Casa, an alternative housing development initiative that secured a 10-year supply agreement for a patented, sustainable building system that will provide the bridge between its technology solutions and the affordable housing market. Cuentas has made investments to date in affordable housing projects for over 450 apartments. LINK: https://cuentas.com AND https://cuentasmobile.com
About WHEN Group
World Health Energy Holdings, Inc. (d/b/a WHEN Group) is a holding company comprised of CrossMobile, SG 77, Inc./RNA Ltd, which develops and significantly improves existing cybersecurity solutions in the B2C and B2B marketplace. WHEN Group develops new systems by applying pattern recognition technology based on IOT / mobile / servers and computer activity, analyzing human and device behavior, relationships, and BPM (Business Process Management) to automatically identify and prevent potential danger to individuals and companies. The B2C Cybersecurity division targets families concerned with external cyber threats and exposures in addition to monitoring a child’s behavioral patterns that may alert parents to potential tragedies caused by cyberbullying, pedophiles, other predators, and depression. The B2B Cybersecurity system software development and implementation company is focused on innovative solutions for the constantly evolving cyber challenges of businesses, non-governmental organizations (NGOs) and governmental entities. By deploying a highly experienced development team, RNA Ltd. anticipates both internal and external cyber threats, by identifying behavioral patterns that flag potential cyber compromises.
Additional information is available at: https://www.whengroup.com/.
Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. These forward-looking statements involve substantial uncertainties and risks and are based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including, but not limited to, Nasdaq and shareholder approval of the proposed transaction, our ability to manage our research and development programs that are based on novel technologies, our ability to successfully integrate WHEN operations and product offerings, the sufficiency of working capital to realize our business plans and our ability to raise additional capital, market acceptance, the going concern qualification in our financial statements, our ability to retain key employees, our competitors developing better or cheaper alternatives to our products, risks relating to legal proceedings against us and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
Investor Relations
Cuentas, Inc.
800-611-3622
info@cuentas.com
SOURCE: Cuentas, Inc.
