The Veratis Insurance Group, a subsidiary of The Veratis Group, entered into the rapidly emerging mobile payments and cash marketplace through an agreement with Global Benefits Group to market a version of their ATMSafe program that is designed to insure cash transactions on smartphones and other mobile devices.

ATMSafe is the engine driving Veratis Group’s CashGuardPlus mobile program, providing safety and security for various financial platforms: mobile cash transactions, ATMs, remittance cards, and payroll. This new payments protection service offers a distinct opportunity to add major revenue enhancements to transactional services.

According to James Fridl, president of the Veratis Group, “CashGuardPlus was introduced to provide owners of any mobile device, using any technology, payment application, or service, the safety and security of an enhancement program that replaces cash stolen from a mobile smartphone, prepaid card, or during an ATM robbery.”

The Veratis Group will market the service to financial institutions, retailers, affinity and travel groups, insurance companies, card issuers, card reader manufacturers, and phone companies.

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