LA JOLLA, Calif., Jan. 18, 2005 (PRIMEZONE) -- Global Vision Holdings, Inc., (Pink Sheets:GVHL), a developer and worldwide wholesale marketer of a new generation of prepaid financial service products, today announced that it has received orders and order commitments for more than 200,000 "Worldwide Debit Cards" from distributors in U.S. domestic and European markets. The company's new bank debit card was introduced in December 2004 for the worldwide marketplace, and has received many enthusiastic inquiries from potential distributors in other U.S., European, Canadian, Asian and South African markets. Order fulfillments are commencing immediately.
Global Vision's new debit card is an "Electronic Debit Card" branded by a major international credit/debit card issuing association and network, and each card will carry the brand's flag and hologram to attract cardholders as a prestige product. This newest card product can be issued to people worldwide with official identifications and verifiable addresses. It can be used at more than 780,000 ATM's worldwide and 20 million merchant locations, as well as for Internet purchases.
Because this card has no embossed account number and the cardholder name is optional, it can be used in much safer online-only transactions and instantly issued at any registered employer or retail location. The card is re-loadable via direct payroll deposit on the Internet, Interactive Voice Response (IVR), card-to-card transfer or retail cash loading at 35,000 locations in the United States. In late January 2005, thousands of European Euronet locations also will serve as loading sites. Applications of this card include international or multinational employee payroll, retail or gift cards, travel cards, student cards, affinity group cards and fund transfer cards.
World Market
The prepaid market comprises the largest customer base in the world, and most consumers understand how prepaid payment systems work. Global Vision estimates that this market potentially includes approximately 150 million individuals in the United States, less than 12 million of which maintain active prepaid debit card accounts. The worldwide market potential is more than 10 times greater at 1.5 billion, and this market is virtually untapped, representing a tremendous opportunity for products catering to the world's "un-banked" population, such as Global Vision's newest offering. These individuals can be issued prepaid bank debit cards and enjoy the convenience, prestige and security of having money in a safe place -- alongside a variety of value-added Global Vision benefits.
Global Vision is bundling this card alongside the company's long distance calling program, discount healthcare offering and its "Global First Rewards" program. These services can bring distributors upfront as well as monthly recurring revenue, and each service can generate more than $4.00 per customer per month for the distributor. Global Vision anticipates that its bundled, integrated prepaid services will increase the value of its prepaid bank debit cards and promote usage and loading of bankcards. Active balances alleviate the card account from being cancelled and usages bring recurring revenues to distributors.
"We are delighted with the enormous interest this card has received from distributors who serve the banked and un-banked minorities in just the U.S. market alone," said Global Vision CEO Jack Chang. "The European interest proves the market is immense, and we already have distributors from the United States, Europe, Asia and South Africa clamoring for this card. Our new `World Card' will propel and fuel our global distribution capabilities." For further information, please visit http://www.Global-Vision.com/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.