Global Vision Adds Distribution Alliance in Europe, Middle East and Africa for World Debit Card

Thursday 5 May 2005 17:12 CET | News

Global Vision Holdings, Inc., a developer and worldwide wholesale marketer of a new generation of prepaid financial service products, announced that it has achieved an agreement with Bright Global Group, an European distributor, to market Global Visions Worldwide Debit Cards in Europe, the Middle East and Africa (the EMEA marketplaces).

Global Visions new bank debit card was introduced in December 2004 for the worldwide marketplace. To date, Global Vision has established distribution channels in markets within the United States, Europe, Africa, Mexico and Central America. Global Vision distributors earn upfront markup on each card sold and cumulative, recurring commissions from monthly account maintenance, ATM and point of sale usage fees. Because prepaid bank debit cards cater to un-banked consumers that do not qualify for bank accounts or credit cards, a tremendous worldwide demand exists for such products. Advantages of the Global Visions World Debit Card Global Visions new debit card is an electronic debit card branded by a major international credit/debit card issuing association and network, and each card carries the brands flag and hologram to attract cardholders as a prestige product. It can be used at more than 780,000 ATMs worldwide and 12 million merchant locations, as well as for bill payment and online purchases. Unlike regular Visa or MasterCard debit cards that can be issued only to residents within specific countries, the Global debit card can be issued to anyone with a valid government identification and verifiable physical address. Additionally, because name is optional on the card, the World Debit Card can be instantly issued to anyone with an official identification and verifiable address at any registered employer or retail location. It can also serve as an excellent multinational employee payroll tool with inexpensive funds transfer capabilities. Uses & Applications of the Global Debit Card In EMEA According to Bright Global Group CEO Jonathon James, Bright Global Group is currently developing an agreement with a multi-national conglomerate operating in Eastern Europe to issue in excess of 15,000 World Debit Cards per month beginning in 60 to 90 days. In addition, Bright Global Group is in negotiations with sports clubs, other employers and even small towns to begin issuing these cards immediately as designated payroll and funds transfer cards. World Market Approximately 90% of the worlds 6.4 billion people do not have banking relationships. Global Vision believes these individuals comprise one of the largest potential customer bases for prepaid bank debit card products in the world, and most consumers understand how prepaid payment systems work.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce