Fort Lauderdale, FL (PRWEB) June 2, 2005
Cash Now Corporation, (Pink Sheets: CHNW), Cash Now Corporation, a business aggregator and a pioneer in the sub prime payday loan lending and continuing leader in the payday loan and check-cashing industry, (http://www.cashnow.com) and (http://www.cashnow.net) begins and a worldwide wholesale marketer of a new generation of prepaid financial service products, today announced that it has dynamically expanded its global presence through a new bank debit card for the worldwide marketplace. The companyÂs new ÂElectronic Debit CardÂ is a debit card branded by a major international credit/debit card issuing association and network, and each card will carry the brandÂs flag and hologram to attract cardholders as a prestige product. The company plans to officially launch the new debit card on July 7 2005.
Cash NowÂs newest card product can be issued to people worldwide with official identifications and verifiable addresses. It can be used at more than 800,000 ATMÂs worldwide and POS terminals with PIN-pads, as well as for Internet purchases. The cards can be issued instantly onsite at any registered employer or retail location, and are re-loadable via direct payroll deposit on the Internet, Interactive Voice Response (IVR), card-to-card transfer or retail location loading. Its applications include international or multinational employee payroll, retail or gift cards, travel cards, student cards, affinity group cards and fund transfer cards.
The prepaid market comprises the largest customer base in the world, and most consumers understand how prepaid payment systems work. Cash Now estimates that this market potentially includes approximately 150 million individuals in the United States, of which less than 12 million maintain active prepaid debit card accounts. The worldwide market potential is more than 10 times greater at 1.5 billion individuals, and this market is virtually untapped, representing a tremendous opportunity for products catering to the worldÂs Âun-bankedÂ population, such as Cash NowÂs newest offering. These individuals can be issued prepaid bank debit cards and enjoy the convenience, prestige and security of having money in a safe place Â alongside a variety of value-added Cash Now benefits.
The electronic bank debit card is available to Cash NowÂs licensees right now, and will be available in high quantities after July 7 2005. Cash Now is also bundling this debit card alongside the companyÂs long distance calling program, discount healthcare offering, and its ÂGlobal First RewardsÂ program. These services can bring distributors upfront as well as monthly recurring revenue, and each of the four services can generate more than $ 5.00 per customer per month for the distributor.
Because the cards do not have an embossed account number or name, they cannot be used for under-the-floor-limit, offline transactions. Instead, each userÂs account number is printed on the card, and for added security, the addition of the cardholderÂs name is optional.
Cash Now anticipates that its bundled, integrated prepaid services will increase the value of its prepaid bank debit cards as well as promote the usage and loading of bankcards. Active balances alleviate the card account from being cancelled, and usages bring recurring revenues to distributors.
ÂMost of the un-banked people in the world can use this card for convenience, security, fund transfers, and even personal prestige. It carries a reasonable ATM fee anywhere in the world, so we also anticipate that many small businesses will use the product as a payroll card for geographically dispersed employees,Â said Cash Now President Andrea Zecevic. ÂThe market is enormous, and we already have licensees from the United States, Canada and Australia clamoring for this card. Our new ÂWorld CardÂ will propel and fuel our global distribution capabilities,Â he added. For further information, please visit http://www.cashnowcard.com
Cash Now Corporation, a business aggregator and a pioneer in the sub prime payday loan lending and has ventured in the prepaid/stored-value debit card marketing business. Prepaid debit cards are in great demand by businesses and individuals that do not qualify for bank accounts or credit cards throughout the world. The market for prepaid debit cards is just in its infancy domestically and virtually untapped outside the United States. According to Cash Now, the demographics of telephone calling card users and consumers who can benefit from discount healthcare plans overlap greatly with that of prepaid debit cards users, providing very synergistic cross sell opportunities between these programs.
The company sees huge potential in the worldwide distribution of pre-paid bank debit cards, retail gift cards, telephone calling cards, and healthcare and insurance products, serving a multibillion-dollar global marketplace. Cash NowÂs president Andrea Zecevic adds prepaid debit cards are in great demand by businesses and individuals both domestically and worldwide, with the market outside the United States virtually untapped.
CHNWÂs revenue model strives to create recurring revenue streams from a global customer base through mass distribution marketing channels. Other available and planned products and services for CHNW debit/stored value cardholders and distributors include a Long Distance Calling card, cardholder rewards program (ÂGlobal First RewardsÂ) and discounted healthcare plans.
About Cash Now
Cash Now Corporation (CHNW.PK), a pioneer in the payday loan industry, is developing the most comprehensive menu of services in the cash advance industry, all centered on the Cash Now brand. The company's proven business model includes licensing to corporately operated joint venture locations across the U.S. and Canada. Additionally, Cash Now's Web site is the most advanced payday-lending portal, offering key insight to clients and potential clients alike - as well as the ability to complete payday loans online, via a phone call or in person.
Cash Now offers a payday loan license program, Payday Express; a payday loan and check-cashing license known as Check Express; and a host of related financial services for small and medium-size businesses. Profit Guide magazine recently ranked the Cash Now Group 10th in its list of the 50 fastest growing and most promising emerging companies.
Safe Harbor Statement
Information in this press release may contain "forward-looking statements." Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated.
Forward-looking statements in this news release are made pursuant to the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Cash Now's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Cash Now's periodic reports filed with the United States Securities and Exchange Commission and other regulatory authorities.
Cash Now Corporation
Andrea Zecevic, Toll Free: 1-866-778-2996
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