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Source: FNDS3000 Corp
FNDS3000 CORP ANNOUNCES ACQUISITION OF U.S. BASED COMPANY MARKETING DEBIT AND CREDIT CARD PROGRAMS TO MERCHANTS AND EMPLOYERS.
Ponte Vedra Beach, FL, July 8, 2008—FNDS3000 Corp. (OTCBB: FDTC) (Frankfurt: “FT4,” A0MWLG) is announcing a shareholder update. FNDS3000 Corp has acquired the assets of a U.S. based company that markets credit and debit card programs to merchants and employers throughout the U.S. The company annually processes in excess of $150 million with an installed base of over 900 merchant accounts generating approximately $1,000,000.00 in annual revenue.
Michael Dodak, CEO of FNDS3000 stated, “We are pleased to announce the acquisition of a large and growing company with a base of installations in the U.S. The purchase provides us with proprietary software solutions for the virtual POS/internet market and an Electronic Funds Transfer platform for our U.S. and worldwide customers. This enables us to line extend our current product offering to existing and new customers and can be used advantageously in a cross-selling market strategy. The completion of this transaction allows us to generate revenue beginning this month, in tandem with our launch and delivery of debit cards to our South African customers. These activities position us to achieve our revenue, profit and EBITDA goals for 2008 and 2009. ”
Joe Tumbarello, COO of FNDS300 stated, "FNDS3000 now has a unique set of business skills and products. We can provide a turnkey solution for prepaid card issuing and merchant processing virtually anywhere in the world. Our efficient organizational structure enables us to react quickly to tailor client-centric products. The management talent of the company, along with our global products and vision will catapult FNDS3000's revenues and profits."
About FNDS3000 Corp
FNDS3000 Corp is a financial services company that provides prepaid and debit cards to the over 1 Billion working population worldwide who do not have a bank account. This market is estimated at over $100 Billion on an annual basis. The Industry average revenue for prepaid payroll cards is $12.00 per month per card in the U.S. and Europe. Our payroll card product allows the employer to replace payroll checks for their un-banked and other workers. In addition it allows employers to use the card where they now have to pay their employees in cash, which is estimated to be over 50% of the worldwide working population. Our cards allows for the domestic and international money transfer providing an inexpensive, safe and secure alternative to traditional money transfer companies like Western Union® and MoneyGram®, a market estimated to be over $100 Billion annually. Our suite of card products can be used at millions of retailers and ATM’s on a worldwide basis. Other services include Gift cards, bill pay, prepaid cellular, etc.
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.
Contact: FNDS3000 Corp |
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