TAS Group, listed among the top 100 FinTech companies in the IDC rankings and a leading provider of software solutions to payments and financial institutions worldwide, and Cascade Financial Technology Corp (“Cascade FinTech”), a USA based payments service provider, announced today that Cascade FinTech will adopt TAS Group’s innovative cashless 3.0 payments platform to insource a broader part of its core business processes and increase its independence from third-party outsourcers.
Cashless 3.0 allows card issuers and processors to design and issue a wide range of card and mobile payments products to the market faster than ever before. After a thorough evaluation of the technology, Cascade FinTech determined that the platform was fit to handle its future expansion plans. The new cashless 3.0 platform, deployed through the cloud, will significantly enhance Cascade FinTech’s delivery capabilities in the payments market.
Cascade FinTech was founded in 2014 and is based in Las Vegas, Nevada. It provides general purpose reloadable prepaid card services, debit cards, person-to-person (P2P) mobile payments, and end-to-end wearable solutions. By adopting cashless 3.0, Cascade FinTech will be able to quickly and independently design, implement and launch new programs and products.
“We are very pleased to be collaborating with Cascade FinTech, which is a fast-growing innovator in the world of digital payments,” commented Dario Pardi, TAS Group’s Executive Chairman. “This is not just an additional deployment of cashless 3.0 technology in the region, but the start of a long-term strategic partnership that will enable Cascade to quickly realize its growth strategy for both the issuing and processing side of its business.”
“Currently, the biggest pain points for Program Managers are the per-transaction schemes implemented by the traditional processors that start with guaranteed minimum fees”, continued Pardi. “TAS Group offers a cloud-based model and flexible licensing terms to better match the Issuers and Program Managers’ business models, radically decreasing their costs.”
“The strategic partnership with TAS Group will play a key role in positioning Cascade FinTech as a preeminent provider of complete payments solutions,” commented Spencer Schmerling, CEO, Cascade FinTech. “Getting in control of our own payments infrastructure is another step in differentiating our Cascade Cloud from our competitors. Through this partnership, we are able to leverage TAS Group’s 35+ years of experience as a leading FinTech software provider in the payments cards space.”
John Bamforth, Cascade FinTech’s CTO, added, “We value the deep technical and business domain expertise of TAS Group, as well as the agility and flexibility built into their software architecture and customer management approach.”