VIENNA, Va.—Navy FCU’s Visa Buxx app, which is powered by Cachet Financial Solutions’ Select Mobile Money prepaid platform, has been named as a 2015 Paybefore Award winner in the Judges' Choice category.
The awards recognize excellence in the worldwide prepaid, mobile and emerging payments industry, and are presented annually by Paybefore, a publisher of information for emerging payments executives.
The NFCU Visa Buxx App was selected by a panel of five industry experts who served as judges for this year's competition, which included entries from around the world.
"This year's Paybefore Awards have demonstrated once again that payments companies are committed to driving out the inefficiencies of cash and checks, while also increasing value for clients and end users," said Loraine DeBonis, Paybefore editor-in-chief and chair of the judging panel. "We're proud to recognize Cachet Financial Solutions, Inc., Navy Federal Credit Union, and Visa Inc. for their contributions to advancing electronic payments and financial services."
NFCU Visa Buxx, a student-geared program, uses Minneapolis-based Cachet's Select Mobile Money prepaid mobile application to view balances, request money from parents through SMS, email or in-app notification, and use the locator feature to easily locate the nearest branch or ATM. Parents have access to their student's balances, can transfer funds directly from their Navy Federal debit and credit cards, and have the ability to suspend their teen's card.
The NFCU Visa Buxx App now will vie for Best-in-Category distinction, which will be announced during the Paybefore Awards ceremony on Feb. 24.