Consorteum Holdings Launches Mobile Check Cashing Program

Consorteum Holdings, Inc. announced that it has launched its mobile check cashing program.

According to the company, the introduction of this service will offer those that are currently using check cashing facilities a much more convenient way to cash their payroll checks. After two years of development with its partners, Consorteum has now proceeded to the pilot phase of its check cashing program in the Toronto, Ontario region. The first stage of the pilot implementation will be the deployment of this new service on several trucks. The drivers will be able to offer their clients the convenience of real-time check cashing services and load customer funds directly onto a personalized prepaid Credit Card right at the mobile truck's location.

"Consorteum has been very eager to deploy this program and sees significant growth and opportunity within the check cashing industry," said Quent Rickerby, President & COO of Consorteum Holdings. "Not only are we bringing the convenience of a check cashing service to the customer directly, but we're also mitigating the overhead costs of a brick-and-mortar store front."

Consorteum noted it will charge the customer a percentage of the value of the check as a convenience fee for processing the transaction. It is expected the program will be fully deployed across other regions of Ontario in early 2010 and generate significant transactional volumes for the company within a year. The program is expected to expand into several U.S. regions in late 2010.

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