LAS VEGAS, Sept. 15, 2005 (PRIMEZONE) -- Accepted Sales Advance Purchase Funding, LLC (ASAP), a subsidiary of Global Debit Cash Card, Inc. (Pink Sheets:GBCD) (Global) has chosen New York-based Cynergy Data (cynergydata.com) to process payment transactions for ASAP's merchant clients. Additionally, Cynergy will manage the collection of the Visa/MasterCard transactions ASAP purchases from those merchants via its AdvanceFundsPlus(tm) program.
"We are excited to be working with Cynergy Data," said Arnold Sock, Global's president. "They have good technology and tools that are important for us to successfully operate our business, which is to help merchants obtain working capital when they are too small, or otherwise do not qualify, for bank financing."
ASAP chose Cynergy because of its 10-year record of success in the merchant services industry.
Cynergy Data annually processes more than $1.6 billion in credit, debit, check conversion, and other forms of electronic payment transactions. Through its Virtual Merchant Application System, known as Vimas, daily business tasks are made easy for Cynergy's merchant clients who want to monitor their transactions. For ASAP, Vimas allows the tracking of ASAP's merchant clients' sales and how much has been collected for ASAP.
ASAP provides working capital by buying a portion of a merchant's future sales at a discount and then collecting those purchased sales through a credit card processor on a non-fixed payment basis over a period of time as sales occur.
About Global Debit Cash Card, Inc.
Global has two subsidiaries, Accepted Sales Advance Purchase Funding, LLC and Debit Cash Card, LLC. The products and services offered are for small to mid-size merchants either for end use or for resale.
For more information, visit http://www.gldcc.com.
About Accepted Sales Advance Purchase Funding, LLC
ASAP Funding provides cash to small to mid-size merchants through an innovative program called AdvanceFundsPlus(tm) that takes advantage of a merchant's expected future sales to provide working capital before the sales occur.
About Debit Cash Card, LLC
Debit Cash Card expects to soon offer its prepaid debit card, The Best Cash Card(tm) and now can offer a private-label prepaid debit card for groups and organizations so that they can have their own bank-approved logo on the card for their members and for anyone else that purchases those cards.
About Cynergy Data
Cynergy Data is an industry-leading electronic payments processor with more than 100 employees in its two New York offices. Cynergy provides its merchant clients with the tools and support to expand their business using the technology and programs Cynergy has developed such as Vimas and the Merchant Club.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as GBCD or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," or other words or phrases of similar import. Similarly, such statements in this release that describe the company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent in the operations of a company.
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