Fast, Free & Secure: The Prósperos Platform Accelerates Latino Prosperity

Say Adios to Fees for Check Cashing and Sending Money, and Say Hello to More Savings

LOS ALTOS, Calif., Sept. 4, 2024 /PRNewswire/ -- Prósperos, a financial technology company, is delivering a free mobile banking platform that replaces costly solutions for check cashing and international remittances. The Prósperos platform helps customers save more of their hard-earned money so they can better provide for their families while securing their financial future.

Founded in 2023 by technology executives Vinay Pai and Salvador Chavez, Prósperos provides a fast, free and secure mobile banking platform.

• The Prósperos platform provides two bank accounts and two credit cards– one for the account holder in the USA and one that is sent to their family in Mexico.
  
  
• With Prósperos, customers simply move money between two bank accounts, and the funds are available within 5 seconds for their family in Mexico. With traditional solutions for money transfer, customers pay exorbitant fees and must still wait days for the money to arrive in Mexico.
  
  
• Prósperos welcomes customers into the modern financial system where their money is secure and conveniently accessible through a credit card for everyday purchases or cash withdrawal.
  
  
• Prósperos does not charge any fees to customers or require a minimum balance. Prósperos makes money from credit card interchange fees that are already paid by merchants, which allows us to offer a free product to consumers.
  
  
• Customers who were previously paying $100 or more in monthly fees with traditional solutions are able to save more of their hard-earned money. And they no longer need to wait in lines to cash their paycheck or send money to Mexico.
  
  
• Say adios to fees and hello to more savings with Prósperos.

"Prósperos is what the Latino community has been waiting for– free banking for them and their families in Mexico. For years we have understood the barriers to many being able to open a bank account here in the USA. Prósperos is a unique financial platform that is free, gives customers financial power and also recognizes the needs of their families back home in Mexico. Farm and essential workers are the economic engine of our country, and every dollar matters for them. Prósperos' mission to provide free banking opens the doors to access and financial equity. Thank you Prósperos for believing in the community and being the first solution to let us send money home to Mexico with no fees. This is genius and powerful!" - Dr. Belinda Hernandez Arriaga, CEO and Founder of ALAS.

"As we've been onboarding customers to Prósperos, we've seen farm workers spending 1-2% of their income on check cashing fees, which can amount to $120 or more each month. On top of that, they often spend $30-$40 on fees for remittances to Mexico. With Prósperos, they're realizing they have more money to put better food on the table each week while saving for their future." - Salvador Chavez, COO and Cofounder, Prósperos.

"We are excited to offer a free product that lets our customers hold on to more of their hard-earned money. Being part of the modern financial system with Prósperos has many benefits for our customers. Their money is safe, secure and easily accessible via the Prósperos credit card. And Prósperos is the fastest way to provide money to families in Mexico. Within five seconds, the money's available." - Vinay Pai, CEO and Cofounder, Prósperos.

About Prósperos

Prósperos has built a modern financial platform that will benefit 400M Spanish-speaking consumers in the Western hemisphere. By leveraging enterprise-strength financial technology previously available only to businesses, Prósperos replaces costly check cashing and remittances with a fast, free and secure solution that allows customers to save for their financial future.

For more information visit www.prosperos.ai

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SOURCE Prosperos, Inc.