FNDS3000 Corp Announces Addition of Richard Smuts-Steyn as a Director and Vice President of Africa
July 30 2008 - 6:00AM
PR Newswire (US)
PONTE VEDRA BEACH, Fla., July 30 /PRNewswire-FirstCall/ -- FNDS3000
Corp. (OTC:FDTC) (BULLETIN BOARD: FDTC) (Frankfurt: "FT4," A0MWLG)
announced it has added Richard Smuts-Steyn as a Director and Vice
President of Africa. He will focus on the build out and expansion
of the African market and will oversee the sales, operations and
the merger and acquisition strategy of the FNDS3000 African
subsidiary. Over the last 5 years, Smuts-Steyn increased sales from
approximately US$10 million to over US$200 million as the Group CEO
of Ventury Group, a multi-channel payment and transaction processor
based in South Africa. Smuts- Steyn has extensive knowledge in both
banking services as well as market development in developing
economies. Smuts-Steyn has also been instrumental in the successful
launch of point of sale services and pre-paid card application in
evolving markets such as South Africa, India, Kenya and Nigeria.
Richard Smuts-Steyn stated, "I am most proud and privileged to be
joining the team at FNDS3000. The pre-paid card market is not only
enjoying explosive growth in the US markets but is also a key
catalyst to the growth of banking services in Africa. The services
provided by FNDS3000 to this market will not only play a pivotal
role in the development of banking structures as a whole, but is
also expected to generate attractive return on our efforts in this
continent." "I am excited that Richard has joined the team. With
our strategic focus on Africa we needed a strong experienced
executive who will be dedicating all his efforts on developing this
market and management of our South African processing center. This
will allow us to continue to develop and expand the opportunities
that have presented themselves in the European and the Middle East
markets," added Victoria Vaksman, Executive Vice President of
Europe, Middle East and Africa for FNDS3000 Corp. "I am very
pleased that Richard has joined the company. He will be
headquartered in Johannesburg and his immediate focus of
concentration will be South Africa. Richard's depth of knowledge in
the transaction business and contacts in Africa will be utilized to
grow the business organically and through key acquisitions," said
Michael Dodak, CEO of FNDS3000. About FNDS3000 Corp FNDS3000 Corp
is a financial transaction processing company providing prepaid
card and merchant processing solutions. We provide prepaid cards to
a market with over 1 Billion individuals worldwide who do not have
bank accounts, estimated at over $100 Billion in annual revenue.
Our products allow employers to replace payroll checks for all
workers. In addition, employers can use our products in lieu of
cash to pay employees -- this may be greater than 50% of the
worldwide working population. Domestic and international sharing of
money, similar to Western Union(TM), is a key feature of our
solution. This market is estimated to be over $100 Billion
annually. Many of our products carry worldwide brand marks and can
be used anywhere in the world that accepts those brands. Other
services include gift cards, bill pay, prepaid cellular and other
prepaid products. Our merchant processing solutions provide
comprehensive credit, debit, and check card payment programs. We
are dedicated to the service and profitability of our merchants.
The combination of card issuing and merchant processing enables
FNDS3000 to provide turnkey financial transaction solutions to
virtually any market worldwide. Matters discussed in this press
release contain forward looking statements as defined under the
Private Securities Litigation Reform Act of 1995. Investors are
cautioned that such forward looking statements involve risk and
uncertainties, which could significantly impact the actual results,
performance or achievements of the Company. Such risks and
uncertainties include, but are limited to, the time frame for
production of revenue, product development and commercial
introduction, the impact of rapid price and technological change
and competition, manufacturing and supply uncertainties and other
risks as may be detailed from time to time in the Company's
periodic reports filed with the Securities & Exchange
Commission. DATASOURCE: FNDS3000 Corp. CONTACT: David Fann,
President, +1-904-273-2702, , or Joe McGuire, Chief Financial
Officer, +1-904-273-2702, , both of FNDS3000 Corp. Web site:
http://www.fnds3000.com/
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