Boost Mobile boosts underbanked

US Boost Mobile is launching a new money service aimed at underbanked customers.

The prepaid mobile service provider’s OmniMoney product means users can secure payments, make withdrawals, transfer money and send remittances.

VISA is the scheme provider, offering a virtual and physical card.

Store cash deposits are available at various locations.

“We’re looking to provide basic services for historically excluded communities – where 60 million Americans are underbanked1," said Stephen Stokols, who heads Boost Mobile. "Not only do Boost Mobile customers have access to low-cost unlimited wireless services, but now they are empowered to take control of their finances with new tools through the OmniMoney app."