Alpha Modus Holdings Inc. (NASDAQ: AMOD) and SurgePays Inc. (NASDAQ: SURG) announced a multi-year commercial integration and distribution agreement to deploy the Alpha Cash mobile wallet across SurgePays' prepaid wireless and convenience-store retail channels.

The agreement enables integration into SurgePays' consumer-facing ecosystem, including ProgramBenefits.com and SurgePays' distribution network that serves underbanked Americans. SurgePays will promote Alpha Cash across point-of-sale marketing channels, digital intake flows, and wireless activation pathways including Lifeline programs.

The initial deployment phase includes up to 25,000 devices enabled with Alpha Cash access, with a revenue-sharing model tied to consumer usage. Alpha Modus will fund consumer activation incentives and compensate SurgePays on a per-activation basis, while providing SurgePays a share of downstream wallet revenue from enrolled users for a defined period.

"This agreement should move Alpha Cash into live distribution channels that already reach the consumers we are targeting," said William Alessi, chief executive officer of Alpha Modus Holdings. "We will be embedding directly into the onboarding flows and platforms that serve millions of underbanked Americans."

Jeremy Gies, executive vice president of SurgePays, said the pilot allows the company to evaluate enrollment economics at scale before expanding beyond the initial partnership phase.

According to the FDIC's 2023 National Survey cited in the announcement, approximately 24.6 million U.S. households rely on alternative financial services for everyday transactions. The FinHealth Spend Report indicates U.S. consumers reliant on alternative financial services spend an estimated $347 billion annually in fees and interest.

The agreement formalizes a previously announced partnership between the companies, according to the press release statement.