FNDS3000 Corp Launches Market Test Phase of Prepaid Card Roll-Out in South Africa
August 28 2009 - 9:00AM
PR Newswire (US)
Pilot Test Phase Complete JACKSONVILLE, Fla., Aug. 28
/PRNewswire-FirstCall/ -- FNDS3000 Corp (OTC Bulletin Board: FDTC)
(Frankfurt: "FT4," A0MWLG) the financial transaction processing
services company, currently introducing prepaid card programs to
the South African market, today announces the successful completion
of the Pilot Test Phase ("Pilot Test") of its prepaid card
introduction, and the immediate commencement of the next phase of
implementation. The Market Test Phase ("Market Test") commences
with the initial distribution of around 10,000 prepaid cards to
corporate clients and their cardholders. This final test will
confirm and validate the processes and systems that will be
required to handle the high volume of prepaid cards that are
expected to be launched later in the year, during the market-wide
Roll-Out. Assuming the results of the test are favorable, the
Company expects to initiate Roll-Out in late September 2009. John
Hancock, Chief Executive Officer, stated: "We are excited to
announce a significant milestone with the completion of our pilot
program. The January through July 2009 Pilot Test ended a few weeks
later than expected, however during this time, we implemented
further product enhancements, together with more comprehensive
customer service operations and advanced fraud prevention
protocols, all of which are essential in assuring the continued
development and smooth roll-out of our prepaid cards. "In the
Market Test, scheduled through September 2009, our objective is to
issue an additional 40,000 cards bringing our total to
approximately 50,000 prepaid cards across 11 corporate clients,"
noted Victoria Vaksman, Executive Vice President. "At the
conclusion of this phase, we anticipate a rapid increase in scale,
as we deliver our prepaid cards to the significant number of
corporate clients that our distributors have already secured. Mr.
Hancock concluded, "As we progress through the remainder of 2009,
we will continue to build on the solid foundation that has been
created over the past two years. Our experienced management team is
well positioned to steer the Company through the opportunities and
challenges ahead of us and is focused on growing the prepaid card
business which has significant potential in a number of markets
that remain underdeveloped. We expect to continually update
investors on our progress as we increase the number of cards in the
market and expand the business into other territories." About
FNDS3000 Corp: FNDS3000 Corp (OTC:FDTC) (BULLETIN BOARD: FDTC)
(Frankfurt: "FT4," A0MWLG) is a financial transaction processing
service company. Since its inception, its focus has been on the
development and implementation of a variety of prepaid card
programs outside the United States, including services to
individuals who lack access to conventional banking services.
FNDS3000 meets a vital need of companies that have financial
dealings with such individuals by offering prepaid cards that can
be tailored to the differing requirements of each customer.
FNDS3000 intends to provide these services in both developed and
underdeveloped nations through a proven U.S. processing platform
that has been designed for international and cross border
capability. Many of these FNDS3000 products carry worldwide brand
marks and can be used anywhere that accepts these brands. Programs
that can be supported include payroll, insurance, medical aid, gift
cards, prepaid cellular charges and small-scale international
transfers of funds. Forward Looking Statements 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 not limited to, the
potential loss of our relationships with each of the parties that
sponsor our cards and banks that manufacture, issue, and own the
cards; the loss of our service providers; security breaches of our
electronic information; the inability to raise sufficient capital
to fund its operations; and other risks as may be detailed from
time to time in the Company's periodic reports filed with the
Securities and Exchange Commission. The Company assumes no
obligation to publicly update or revise its forward looking
statements even if experience or future events make it clear that
any of the projected results expressed or implied herein will not
be realized. http://www.fnds3000.com/ DATASOURCE: FNDS3000 Corp
CONTACT: Joe McGuire, Chief Financial Officer, FNDS3000 Corp,
+1-904-273-2702, Web Site: http://www.fnds3000.com/
Copyright