Cachet Financial Solutions, a provider of cloud-based SaaS mobile money technologies to financial service providers, will deploy its Select Mobile Money platform for Sole Financial's Visa Paycard, according to a press release.

Sole Financial, a payroll card services provider with more than 50,000 cardholders, offers U.S. employers Sole Paycards to increase direct deposit participation. 

The Sole Paycard enables unbanked employees to receive their paychecks via direct deposit to a payroll card. Users will have access to a full suite of mobile account services through Cachet's mobile service. Cardholders can view balances and transaction detail, pay their wireless bill, transfer funds and reload money from the app. Users will also have the ability to access their deposits within minutes with an "instant good funds" feature.

The app also will offer location-based technology that can pinpoint nearby reload locations and ATMs. Backend analytics will allow employers to segment cardholder behavior and send relevant marketing messages to keep their employees engaged with the app, according to the announcement.

"We're thrilled to partner with Cachet to bring convenient and secure mobile financial services to our Paycard clients," said Tom Secor, co-founder and president of Sole Financial. "Enhancing the paycard experience with Cachet's proven mobile platform helps us to retain cardholders and attract new payroll partners."