×

Navy Federal Credit Union's Visa(R) Buxx App Wins Top Honors in 2015 Paybefore Awards

MINNEAPOLIS, Minn., March 10, 2015 (GLOBE NEWSWIRE) -- Cachet Financial Solutions, Inc. (OTCQB:CAFN), a leading provider of cloud-based SaaS mobile money technologies to financial services organizations, announced today that Paybefore has selected the Navy Federal Credit Union Visa® Buxx app, powered by Cachet's Select Mobile™ Money, as Best in Category in the Judges' Choice category of the 2015 Paybefore Awards.

"We're honored to be recognized alongside Navy Federal Credit Union and Visa for our outstanding prepaid mobile platform and the incredible success of our client," stated Jeffrey Mack, president and CEO, Cachet Financial Solutions. "I'm very proud of our team and ongoing commitment to delivering mobile innovations that drive growth for our clients in the prepaid and financial services industry."

The Navy Federal Visa Buxx app was selected by a panel of five industry experts who served as judges for the competition, which included entries from around the globe. Paybefore also invited online voting and received more than 21,000 votes cast for the nominees in each category. For nine years, Paybefore Awards has conferred the most prestigious recognition of excellence in the worldwide prepaid, mobile and emerging payments industry.

"This year's winners have demonstrated that mobile and prepaid are a powerful combination," said Loraine DeBonis, editor-in-chief of Paybefore and chair of the judging panel. "The judges were particularly impressed by how quickly members have embraced the (Navy Federal) app, and its potential to drive card usage and retention."

"It is extremely difficult to win a Paybefore Award because the level of competition has been elevated to a very high standard," said Marilyn Bochicchio, CEO of Paybefore. "Each winner should be viewed as an industry leader and proud of its accomplishments."

Cachet Financial Solutions was recognized alongside Navy Federal Credit Union and Visa. Navy Federal's Visa Buxx, a student geared program, uses 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.

About Paybefore

Paybefore is the leading information provider to prepaid, mobile and emerging payments industry professionals, offering the latest news, commentary and analysis. Paybefore's family of industry publications includes: Paybefore.com; Pay News; Pay Gov; Pay Week; Pay Op-Ed; Pay Magazine, a biannual print publication featuring in-depth articles on the opportunities, challenges and trends in the global payments industry; and the only industry directory, Pay Connect buyer's guide, available online and in print. Visit us at www.paybefore.com.

About Cachet Financial Solutions, Inc.

Cachet Financial Solutions is a leading cloud-based, SaaS technology provider serving the financial services industry with mobile money management and remote deposit capture solutions for PC, Mac and mobile. The company's industry-leading solutions help clients to increase customer/member engagement, grow revenues and gain competitive advantage. Cachet's cloud-based technology platform simplifies development, deployment and servicing of consumer and commercial solutions—minimizing cost and accelerating speed-to-market and ROI. Enabled by Cachet's complete suite of business and consumer solutions, financial institutions can better serve the needs of all their customers or members. For more information, visit www.cachetfinancial.com.

Forward-Looking Statements

This press release contains certain statements that would be deemed "forward-looking statements" under Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1933 and includes, among other things, discussions of our business strategies, future operations and capital resources. Words such as "may," "likely," "anticipate," "expect" and "believes" indicate forward-looking statements.

These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Forward-looking statements include statements about the anticipated closing of our initial public offering and the number of shares to be sold in the offering.

Forward-looking statements reflect our current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. We discuss many of these risks in greater detail in our Current Report on Form 8K filed with the Securities and Exchange Commission on February 12, 2014 under the heading "Risk Factors" and in the other reports we file with the Commission. Given these uncertainties, you should not attribute undue certainty to these forward-looking statements. Also, forward-looking statements represent our estimates and assumptions only as of the date of this press release. Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.

CONTACT: Media Contacts: Judy German Vice President, Chief Marketing Officer Cachet Financial Solutions 952.698.6991 jgerman@cachetfinancial.com Investor Relations: Matt Glover or Michael Koehler Liolios Group, Inc. 949.574.3860 CAFN@liolios.com

Source:Cachet Financial Solutions