Debisys introduces ITC Financial Services Prepaid Debit and MasterCard products
FOOTHILL RANCH, CA – July 30, 2004 – Debisys, Inc., a leading provider of prepaid solutions, announced today the introduction of the ITC Financial Services Prepaid Debit and MasterCard products to its network.
ITCFS launched its proprietary stored value products in February of 2004. Its flagship stored value card will be marketed under the brand “SnapPay” and will be sold both over the counter at retail outlets and through a direct sales force as a payroll product. Customers of the product are those who cannot or choose not to use the traditional banking system, but want the convenience and security of using a financial card to purchase goods and services. “Between 20% and 30% of Americans are not well served by the traditional banking system,” said Bill Scott. “They want the safety, convenience and security of using a bank-type card to process their financial transactions. The SnapPay product has been designed to provide a broad range of services on one card, including the ability to make long distance calls, pay for various prepaid services such as internet and wireless, and facilitate certain types of money transfers from card to card.”
Phil Prouty, Founder and COO commented “We’re excited to have ITCFS products on our network. The demand for prepaid debit and MasterCard products is significant. Approximately 50 million adults in the U.S. do not possess credit cards. Almost 10 million households do not boast bank accounts. Without access to these financial facilities, millions of people have missed out on the benefits of the ‘transaction revolution.’ Now, stored value cards, aka prepaid debit cards, will enable the disenfranchised to share the rewards of E-commerce.”
About Debisys, Inc.
Debisys, Inc. is a leading supplier of prepaid solutions; including full service products such as prepaid cellular, long distance, internet, MasterCard, debit cards, stored value cards and billpay. The companies POSA network has over 12,000 active terminals and processes over $100m a year in product sales. The companies Flexcharge and Direct Top Up products allow for PINless recharge of cellular accounts and further reduces operation costs for carriers. For more information, please visit the company web site at www.debisys.com or email info@debisys.com.
Contact: Stephen Combe
stephen@debisys.com
(949)699.1401