Exclusive: Alpha Modus and SurgePays sign LOI for commercial integration

Investing.com -- Alpha Modus’s financial services unit and wireless fintech firm SurgePays have signed a Letter of Intent for a commercial integration and distribution partnership, Investing.com has learned.

Alpha Modus and SurgePays are targeting subprime and underserved consumers, aiming to broaden financial access, improve store engagement, and provide better digital services to consumers across the U.S.

The companies are looking to create extensive distribution channels by leveraging SurgePays’ retail footprint, which currently includes more than 8,000 independent merchants. They are also positioning to expand into up to 100,000 retail locations.

Furthermore, sources said Alpha Modus will aim to integrate its soon-to-be expected digital wallet, “Alpha Cash,” which is seen as central to the collaboration.

The move is expected to make it easier for the financially underserved to cash checks, transfer cash, and pay bills.

Under the Letter of Intent, the companies are expected to integrate, preload, and promote Alpha Cash as the primary financial services partner across SurgePays’ assets.

Looking ahead, the LOI outlines a pathway to integrate SurgePays Top-Up and benefits enrollment platforms with the Alpha Cash mobile wallet, as well as deploying SURG’s ClearLine POS engagement technology across Alpha Modus Financial Services’ merchant network.

The companies are now working towards definitive agreements, which will cover pricing, technical integration, revenue-sharing models, and a pilot deployment.

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