|
Press Release |
|
4651 Salisbury Road Suite 485 Jacksonville, FL 32256 |
|
To contact us: |
|
# |
|
FUNDSTECH CORP ANNOUNCES LETTER OF INTENT WITH UNIVERSAL DESIGN CENTER
Ponte Vedra Beach, FL December 4, 2007 /PRNewswire-FirstCall/ FundsTech Corp (NASDAQ OTC (FNDS), (Frankfurt “FT4’, A0MWLG) a financial services company announced today that it has signed a Letter of Intent to provide an exclusive prepaid card program for the Fine Arts, Furnishings and Antiquities Market.
FundsTech Corp (FTC) has entered into a Letter of Intent with Universal Design Center (UDC) to issue a prepaid card for paying a national network of interior designers and distributors of Fine Arts and Antiques and home furnishings. Terms of the confidential deal will not be released.
Joe Tumbarello, COO of FundsTech Corp, stated, “One of our goals at FundsTech Corp is to use prepaid card products to provide solutions for our clients. Our program with UDC provides a simple, cost-effective, way to pay commissions to over 70,000 interior designers in this $10 billion plus industry. FTC will provide prepaid products while we integrate a customized merchant service solution for UDC. This solution will provide a level of financial integration that does not exist in this category but may be replicated into other industries. The launch is anticipated late in Q1.”
Fred Soleimani, Chief Executive Officer for Universal Design Center stated,
“We are building a highly efficient - virtual design center, and through exclusive partnerships with world class service providers such as FundsTech seek to automate traditional protocol associated with procurement activities of industry buyers.”
UDC and its sub sites, www.FairsAndShows.com and www.TradeShowPartners.com seamlessly integrate universal business applications to increase trust encouraging commerce at all levels of distribution. We provide services to enhance communication enabling lead generation, empowering our users with the tools to optimize productivity while lowering costs.
About FundsTech Corp
FundsTech Corp is a financial services company that provides prepaid debit cards to the over 1 Billion working population worldwide who do not have a bank account. The Industry average for prepaid cards is $12.00 per month per card. This market is estimated at over $100 Billion on an annual basis. The FundsTech Cash Card allows the employer to replace payroll checks for their un-banked workers. In addition it allows employers to use the FundsTech Cash Card where they now have to pay their employees in cash, which is estimated to be over 50% of the worldwide working population. The FundsTech Cash Card also allows for the domestic and international transfer of money (replaces Western Union) which is also a market estimated to be over $100 Billion annually. The FundsTech Cash Card can be used anywhere in the world that accepts MasterCard or Visa. Other services include Gift cards, bill pay, prepaid cellular, etc.
Company Contact FundsTech:
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. |
|
Home |
|
About Us |
|
Contact Us |
|
Product/Services |
|
Mission Statement |
|
Privacy Statement |
|
FAQ |
|
Investor Relations |
|
Demo |