CHICAGO – Payment Over Mobile Solutions, dba Yezzi, announced on Oct. 24 its acquisition of Rhode Island prepaid service company MunchCard LLC.
The MunchCard acquisition, finalized earlier this year, will allow Yezzi to issue its own prepaid cards to customers, who can then load their cards at retail locations and run transactions on-the-go via the Yezzi mobile application.
“We’re delighted to partner with MunchCard to expand on the services they so effectively offered to college students,” said Aaron Gillum, CEO of Yezzi, in a release. “They have a proven card management system, which we plan to leverage for our Yezzi product launch. We are excited to add MunchCard to our growing suite of services.”
Yezzi, a Chicago-based financial services company dedicated to help unbanked and immigrant communities around the world, provides a platform for “global gifting,” allowing customers to send money to family and friends or pay their bills.
“We are excited to work with Yezzi to extend the MunchCard technology to new customers and locations beyond Providence,” said Ben Vishny, co-founder of MunchCard, of the acquisition.