NEW YORK, Aug. 10, 2004 (PRIMEZONE) -- People are now going into their local convenience and grocery stores depositing money into a "virtual account" and getting a Foreign Exchange Prepaid MasterCard to access their funds and make purchases.
Reports indicate today as much as 80 million people in the United States are un-bankable . . . meaning they cannot even open a bank account. Bankruptcies are at an all time high leaving the non-credit worthy with little options; immigrants -- legal and illegal -- are coming in on a regular basis who largely have to carry around cash, teenagers need new payment options and more shoppers are looking on the Internet for goods and services without the security risks.
What is the solution?
Convenience stores are now becoming "Virtual" banks by taking deposits (minimum $10) for a "virtual account" which gets accessed from the new Foreign Exchange Prepaid MasterCard.
Everyone qualifies and the user can re-deposit onto their card as much as they want.
So whether you are not credit worthy, just came into this country, a teenager, or looking to shop online with more security now all you have to do is go down to your local convenience store make a deposit and pick up your very own Foreign Exchange Prepaid MasterCard.
Platinum Financial Group, who also brought the "Usher" Prepaid MasterCard earlier this month to market, is now gearing up to launch the Foreign Exchange Prepaid MasterCard through convenience and grocery stores around the country.
Wally Najimi, the CEO of Platinum Financial Group, says, "Currently we have set up over 1,000 of these "Virtual Banks" and we anticipate within the next year to have well over 12,000 convenience stores around the country equipped with this program. This is a solution to a neglected market that has been past due and if the standard institution doesn't want this business we'll take it!"
All a person needs to do is go down to a participating retailer in their area, load their Foreign Exchange MasterCard and poof they have an instant "virtual bank account" they can reload onto anytime with the convenience of a MasterCard to make purchases. PFG can be contacted by calling 1-800-383-5014 or on the web at: www.fxmastercard.com.