Global Vision Enters Caribbean Markets with Worldwide Debit Card

Friday 18 March 2005 19:40 CET | News

Global Vision Holdings, has achieved an agreement with a Kingston, Jamaica-based distributor to market the companys Worldwide Debit Cards to the Caribbean marketplace. Global Vision has received an initial order from the distributor, and order fulfillments are commencing immediately.

Global Visions new bank debit card was introduced in December 2004 for the worldwide marketplace. To date, Global Vision also has received many other enthusiastic inquiries from potential distributors in the U.S., European, Canadian, Australian, Asian and South African markets. 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 credit-challenged consumers that do not qualify for bank accounts or credit cards, a tremendous worldwide demand exists for such products. Advantages of the Global Vision Electronic 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 Vision card can be issued instantly to anyone with an official identification and verifiable address at any registered employer or retail location. It can serve as an excellent multinational employee payroll tool with inexpensive funds transfer capabilities. It is re-loadable via direct payroll deposit online, Interactive Voice Response (IVR), card-to-card transfer or retail cash loading at 35,000 locations in the United States or thousands of European Euronet locations. Global Vision is bundling a long distance calling program, discount healthcare offering, and its Global First Rewards program in this card product. These services can bring distributors upfront as well as monthly recurring revenue, and each service can generate more than $4.00 per customer per month for the distributor. Global Vision anticipates that its bundled, integrated prepaid services will increase the value of its prepaid bank debit cards and promote usage and loading of bankcards. Active balances alleviate the card account from being cancelled, and usages bring recurring revenues to distributors. World Market Approximately 6.4 billion people -- 90 percent of the worlds population -- 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.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce