Through Power2Process, a wholly owned subsidiary, announces the launch of an exciting new valuable prepaid debit card program under a partnership program with Alterna Card Services, Inc.
The partnership program allows Alterna prepaid debit cards to be sold, registered and loaded in targeted retail outlets in areas with high immigrant populations across the United States. The Alterna debit card provides financial freedom and security for immigrants, non-banked consumers, and anyone looking for a better way to manage money. The Alterna Card works just like any bank-issued debit card, without ever having to worry about overdraft fees or the risk of going into debt. Alterna will offer their customers a range of everyday services not normally available to them, such as withdrawing money from any ATM Worldwide, paying bills online, and having payroll checks deposited directly to the card, which cuts down on cumbersome check cashing queues and costs.
Even more significantly, Alterna customers will be able to send money around the world instantly as a convenient low cost alternative to traditional international money transfer services such as Western Union. Furthermore, under this program Alterna will integrate Flint prepaid calling services with special discounts on international calling from the same card.
Alterna expects to start distributing Flint debit-cards through participating retail outlets as early as next month. Alterna is the innovator of a patent-pending prepaid card loading process which loads prepaid debit cards at the Point of Sale. Alterna will adjust their existing POS terminals that are presently configured to load gift cards, to facilitate Flint pre-paid Debit Cards.
Alterna Card Services is a full-service sales and marketing company, well established in population centers with a high concentration of unbanked, immigrant and natural born citizens. Alterna provides knowledge and expertise in the prepaid industry, with money sharing programs, specifically designed for people unable to obtain bank accounts due to credit issues or citizenship status.
Prepaid services are among the fastest growing service industry segments globally. In 2007, The World Bank estimated that worldwide remittances exceeded $318 Billion. Independent research commissioned by MasterCard estimates the U.S. market opportunity for branded pre-paid cards to be in excess of $440 Billion by 2017, a 400% increase over the market value estimated in 2009.
Madeleine Tapia, President of Alterna Card Services, Inc., commented on the partnership program, "The acquisition of Power2Process by Flint Telecom is very good news for our Company. Alterna's specialized footprint for retail stores includes our Alterna Kiosk and LCD display which also serves as cross-marketing and advertising platform. We expect the Alterna prepaid MasterCard debit cards to immediately address a market of over 12 million unbanked non-U.S. citizens, plus over 30 million unbanked U.S. Citizens across the country."
Bernard A Fried, President and COO of Flint Telecom Group commented, "The partnership program with Alterna Card Services Inc. proves the value of our Power2Process acquisition. There are several financial processors in the U.S. that provide processing for debit card programs, however not many offer all of our features. The reason debit card program managers continue to choose Power2Process is because of its integrated features and the competitive price offered to them. The partnership is specifically designed to be geared towards the highest demand and faster growing markets in the U.S. today. Power2Process will earn a monthly fee per active card and a processing fee per every transaction per card generating recurring and growing revenues into the future."