PreCash, which provides payment services focused on the underbanked, is launching a mobile wallet designed for that audience's unique needs.

Most mobile wallets are designed for bank customers, who have multiple cards to link to their phones for payments. Unlike those, the focus of PreCash's FlipMoney wallet is not on rewards or making wireless payments at the point of sale. Flip's features at launch focus on getting money into and out of a PreCash prepaid card account in real time.

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