LA JOLLA, Calif., Nov. 16, 2004 (PRIMEZONE) -- Global Vision Holdings, Inc. (Pink Sheets:GVHL), a developer and worldwide wholesale marketer of a new generation of prepaid financial service products, announced today that it is formally launching its "Global First Rewards" program.
GVHL will promote the reward program through its bank debit card program, related email campaigns and through its high volume distributors, several of which are also launching the rewards program simultaneously. In the initial launch, GVHL plans to give consumer cardholders the Global First Rewards membership as "Free Holiday Gifts" beginning immediately as an incentive for early signup.
For a limited time, the Rewards membership will be FREE for consumers who join by simply signing up on the Global First Rewards website (www.GlobalFirstRewards.com) or a Global First Rewards distributor's website. Consumer cardholders can register up to five credit or debit cards issued by any bank and receive 5-15 percent rewards (rebates) on purchases from participating merchants. Cardholders also can purchase merchandise certificates from any of the participating merchants or restaurants at up to a 50 percent discount, earning reward dollars at the same time.
The Global First Rewards program currently has registered more than 4,000 restaurants and chain restaurants, as well as more than 400 merchants. The merchants include department stores, such as Target and Macy's; office supply stores, such as OfficeMax; drug stores, such as Eckerd Drugs; grocery and specialty stores; sporting goods stores and travel service providers.
GVHL 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. The GVHL rewards program provides enhanced benefits to prepaid debit/stored value or credit cardholders, as well as a monthly recurring revenue to distributors, since a percentage of the rewards are shared by GVHL and its distributors.
"Because it is free and earns money for consumers, this product can proliferate exponentially, by itself, through word-of-mouth," said Global Vision CEO Jack Chang. "The rewards program can generate significant recurring and long-term commission revenue for us and our distributors; and very importantly, it is also an excellent leader for our distributors to earn money by selling our other products as well."
"Every time a rewards member earns a reward or rebate, a congratulatory email is sent to the member with a link to our distributor's website. The site will further explain the benefits of the program, allow members to review their cumulative points, and best of all, create an opportunity to cross-sell our other products. Global First Rewards can drive significant traffic to our distributors," he added.
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 and a pioneer in the use of magnetic stripes on bankcards, electronic funds transfer systems, and PC-based in-bank systems. The company specializes in worldwide distribution of pre-paid bank debit cards, bank card reward programs, 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 cardholder rewards program ("Global Rewards"), low-cost life insurance 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.