MINNEAPOLIS — Navy Federal's Visa Buxx app has been selected as the winner of a 2015 Paybefore Award in the "Judge's Choice" category.
The Visa Buxx app, powered by Cachet's Select Money Mobile prepaid platform, was selected by a panel of five judges who are experts in the industry. This year's competition included entries from around the world.
Navy Fed's Visa Buxx is geared at students and uses the Cachet application to let users view balances, request money from parents through texts, e-mails or in-app notifications, as well as use a locator feature to easily find nearby ATMs. Parents, in turn, have access to students' balances and can easily transfer funds from Navy Federal credit or debit cards, as well as the ability to suspend usage of the teen's card.
"This year's Paybefore Awards have demonstrated once again that payments companies are committed to driving out the inefficiencies of cash and checks, while also increasing value for clients and end users," Loraine DeBonis, Paybefore editor in chief and chair of the judging panel said in a statement. "We're proud to recognize Cachet Financial Solutions Inc., Navy Federal Credit Union and Visa Inc. for their contributions to advacnign electronic payments and financial services."
Buxx will now compete for the Best-in-Category award, which will be announced during the Paybefore Awards ceremony on Feb. 24 at the All Payments Expo. Visitors to paybefore.com can vote in the category through January 28. Those ballots, counted as one-sixth fo the total, will be combined with the five judges' selections to determine the winner.