- Euro Asia Pay Holdings Inc. (EAP) enters into a collaborative business relationship with MSH International
- Through SideKick, StudyInsured will now be able to reimburse the insurance claims of its customers directly to a reloadable prepaid card
- StudyInsured specializes in travel health insurance for international students in Canada, the United States and around the world
- StudyInsured will initiate a first phase test market for SideKick with its customers in one or more regions of Canada
- Euro Asia Pay Holdings Inc. (EAP) is currently in the grey and is reading at C$0.30 at 1:05 pm ET as of March 31.
Euro Asia Pay Holdings (EAP) has signed a binding memorandum of understanding with MSH International Ltd.
StudyInsured will be able to access EAP’s proprietary payment solution, SideKick.
Through SideKick, StudyInsured will now be able to reimburse its customers’ insurance claims directly to a reloadable prepaid card, which includes both a web application for dispersing payments and a mobile application for customer use.
StudyInsured specializes in travel health insurance for international students in Canada, the United States and around the world.
By making SideKick available as a payment method for customers, StudyInsured aims to assist international students without a local bank account in Canada who generally have difficulty depositing cheques or receiving electronic transfers.
Customers who choose to obtain their insurance claim payments onto a SideKick card will have access to a prepaid card issued by a major card company accepted almost everywhere.
“We are thrilled with this new collaborative business relationship with MSH, through their StudyInsured brand,” said Charles Newton Price, EAP’s Chief Executive Officer.
“We look forward to helping international students obtain their claim payments in an easier and faster way, eliminating the necessity of receiving cheques or opening a bank account,” added Price.
StudyInsured customers will be able to upgrade their SideKick cards to receive funds from their overseas parents.
“Since the creation of the StudyInsured brand in 2003, we’ve been modernizing the market of health care plans for international students in Canada and the world,” declared Leon Dreff, Chief Financial Officer at MSH International (Canada) Ltd.
“The partnership with Euro Asia Pay will support not only our financial team but also provide a new option for thousands of students to receive their claims payments on a SideKick card,” concluded Dreff.
Under the MOU, StudyInsured will initiate a first phase test market for SideKick with its customers in one or more Canada regions to be determined in consultation with EAP.
The test market will continue for a period of six months from the date of the MOU and is expected to lead to the negotiation of a definitive agreement between the parties.
Euro Asia Pay Holdings Inc. is a developer of innovative financial solutions for the next generation of consumers.
Its first product, SideKick™, enables parents to transfer, control and monitor payments to their children in a simple, intuitive manner.
The product includes a student-facing mobile application, a prepaid student payment card and a parent portal, among other features.
MSH International, a subsidiary of SIACI SAINT HONORE, is a world leader in designing and managing international healthcare and death & disability insurance solutions for globally mobile individuals.
Euro Asia Pay Holdings Inc. (EAP) is currently in the grey and is reading at C$0.30 at 1:05 pm ET as of March 31.
