Winner
Financial Services
For approximately 65 million Americans, living without credit cards or banking relationships is a part of everyday life. Fortunately, PreCash Inc. can help.
With Chairman and CEO John Chaney’s vision, PreCash is one of the nation’s largest providers of convenient, real-time payment systems that convert cash into electronic payments. Chaney began running PreCash in 2001, and he quickly converted the Houston-based company of 175 software developers with no focus on current revenue and no sense of customer service into a company with a professional sales force selling its products to generate immediate revenue.
One of PreCash’s products is the Vision Prepaid Visa, which was incorporated into the business in 2004 with Chaney’s guidance. This prepaid debit card allows customers to manage their money better. This unique service provided by PreCash is accepted at more than 35,000 retail locations worldwide. PreCash also e-mails or texts transaction activity to clients in order to ensure clients are aware of their current account balance and transactions. Chaney’s company also has partnered with companies like Sprint and T-Mobile to accept PreCash bill payments.
Because of Chaney’s vision, the underbanked population of the U.S. is no longer forced to use high-fee, untraceable, inaccurate money orders, predatory check cashing services, or deal with overdraft and low-balance fees.
Despite the recent economic downturn, Chaney is continuing to drive innovation at PreCash. Chaney plans to add a saving feature to the Vision Prepaid Card and potentially offer a small line of credit. PreCash will also increase its advertising budget to reach more potential customers.
How to reach: PreCash Inc., (713) 600-2200 or www.precash.com
