CUEN - Cuentas Launches Cuentas Mobile Service and Signs $4 Million Distribution Agreement
Cuentas announces the launch of its Cuentas Mobile service and signs distribution agreement to sell its telecommunications, fintech and value-added products in selected markets. Activates its expansion plan targeting multi-billion dollar hispanic diaspora telecommunications market.
MIAMI BEACH, Fla., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Cuentas, Inc. (NASDAQ:CUEN, CUENW)), the developer of an alternative financial ecosystem for the underbanked, is excited to introduce its Cuentas Mobile telecommunications services in designated markets and initiate a partnership with a well-established retail distribution network. The launch of our telecommunications services is a significant milestone in the ongoing execution of Cuentas' strategic plan and product development.
Under the terms of the comprehensive agreement, its new distribution partner will initiate an initial order of 5,000 SIM cards. In addition to this, Cuentas is poised to offer cross-selling opportunities for its domestic and international mobile service top-up, gift cards, and transit cards. The company anticipates an estimated annual revenue of $4 million from this agreement. Its expansion plans will extend to new geographic markets, with a strong focus on serving Hispanic diaspora clients, providing them with a tailored and competitive product.
Moreover, Cuentas will incorporate the cutting-edge digital and mobile protection software of WHEN Group ((World Health Energy Holdings, OTC:WHEN), branded as "Cuentas 360." This software will provide an advanced layer of security, encompassing digital and mobile application scanning and protection, catering to groups of up to five lines within a family plan. It's worth noting that "Cuentas 360" is a core component of the software package included in our forthcoming planned acquisition of WHEN Group, which was recently announced.
Mr. Arik Meimoun, CEO of Cuentas stated: "I am proud of this achievement. This marks a turning point for the company and a successful milestone ...
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