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FUNDSTECH CORP ANNOUNCES ADDITONAL CUSTOMER FOR ITS DEBIT CARD PROGRAMS IN THE UNITED STATES
Ponte Vedra Beach, FL October 9, 2007 /PRNewswire-FirstCall/ FundsTech Corp (NASDAQ OTC (FNDS), (Frankfurt “FT4’, A0MWLG) A financial services company announced today that it continues to expand its United States prepaid card operations.
FundsTech Corp has entered into an agreement with a United States based national religious organization to issue prepaid gift and general spend card programs.
Joe Tumbarello, COO of FundsTech Corp, stated, “We are pleased to continue expanding our operations while enabling a national organization to generate revenue for their charitable programs through the use of our debit card programs. This is the second card program we have signed in less than a week with additional programs in the sales channel. These programs, along with already established business in South Africa and Europe, have us well on our way to implementing our worldwide growth strategy.”
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. 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, |
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