LA JOLLA, Calif., Dec. 7, 2004 (PRIMEZONE) -- Global Vision Holdings, Inc. (Pink Sheets:GVHL), a developer and worldwide wholesale marketer of a new generation of prepaid financial service products, has developed a new distributor program that bundles all of the company's prepaid product offerings. Global Vision's new Integrated Prepaid Services Program has been created to offer an easy, low-cost opportunity for distributors of all sizes wishing to enter the prepaid financial products market.
The program bundles Global Vision's prepaid bank debit cards as the primary driving service, alongside the company's long distance calling program, discount healthcare offering, and "Global First Rewards", a comprehensive rewards program that generates cash for consumers and recurring revenues for Global Vision and its distributors.
As part of this program, distributors' prepaid bank debit cards will include each of the adjunct services, which will be printed on the cards for cross-selling purposes. All services can bring distributors upfront and cumulative recurring revenue every month, and each of the four services can generate more than $4.00 per customer per month for the distributor.
Global Vision anticipates that the bundled integrated prepaid services will increase the value of its prepaid bank debit cards as well as promote the usage and loading of bank cards. Active balances alleviate the card account from being cancelled, and usages bring recurring revenues to distributors.
Concurrent with the integrated prepaid services program, Global Vision has made available a simple enrollment plan that requires a new distributor to commit only to the acquisition of 1,000 prepaid bank debit cards, resulting in a low entry cost for distributors.
"In the past, we have concentrated on acquiring high-volume distributors who pledged to sell more than 100,000 bank cards per year. However, we have received many inquiries and requests from potential distributors who could not commit to a heavy initial investment. By bundling the various tie-in prepaid services, we now offer a low-cost entry alternative and can better ensure the success of even smaller distributors. To help these smaller distributors get started, we have lowered the minimum initial purchase commitment on our debit cards," said Global Vision CEO Jack Chang. For additional information, please visit http://jack/GlobalVision/marketing/.
Global Vision is in the prepaid/stored-value debit card marketing business. Prepaid debit cards are in great demand by businesses and individuals that do not qualify for bank accounts or credit cards throughout the world. The market for prepaid debit cards is just in its infancy domestically and virtually untapped outside the United States. According to Global Vision, the demographics of telephone calling card users and consumers who can benefit from discount healthcare plans overlap greatly with that of prepaid debit cards users, providing very synergistic cross sell opportunities between these programs.
About Global Vision Holdings
Global Vision Holdings, Inc. (Pink Sheets:GVHL) is a developer and wholesale marketer of a new generation of prepaid (also known as "Stored-Value") financial products and services. The company's CEO, Jack Chang, is the co-inventor of the ATM machine (http://www.global-vision.com/Bio.asp) and a pioneer in the use of magnetic strips on bankcards, electronic funds transfer systems, and PC-based in-bank systems. The company specializes in worldwide distribution of pre-paid bank debit cards, retail gift cards, telephone calling cards, and healthcare and insurance products, serving a multibillion-dollar global marketplace. Prepaid debit cards are in great demand by businesses and individuals both domestically and worldwide, with the market outside the United States virtually untapped.
GVHL's revenue model strives to create recurring revenue streams from a global customer base through mass distribution marketing channels. Other available and planned products and services for GVHL debit/stored value cardholders and distributors include a Long Distance Calling card, cardholder rewards program ("Global First Rewards") and discounted healthcare plans. For more information, please visit www.Global-Vision.com.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Global Vision disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.