SAN ANTONIO, Dec. 15, 2015 (GLOBE NEWSWIRE) -- Payment Data Systems (NASDAQ:PYDS) today announced the launch of Akimbo Gift, a new gift card product that can be ordered online and securely delivered in real time by email or sent with a traditional greeting card by mail. The integration of Akimbo’s new gift card offering with its existing reloadable card provides a number of capabilities not offered by traditional gift cards. Upon approval of a reloadable Akimbo Prepaid MasterCard, Akimbo Gift card balances can be transferred to the reloadable product which offers the ability to withdraw cash at an ATM and transfer funds to an external bank account owned by the cardholder.
“We’re launching the perfect, last-minute holiday gift idea,” said Houston Frost, SVP of Payment Data Systems Corporate Development. “You could wait until Christmas morning and send a gift card to a friend or family electronically.”
Akimbo Gift addresses a number of the frustrations associated with traditional gift card products. Typically, gift cards can only be used for purchases online or in store. Oftentimes this means a certain amount of the gift card goes unspent. However, Akimbo Gift offers the ability to transfer the Akimbo Gift balances to a reloadable Akimbo Prepaid MasterCard upon approval, providing recipients the ability to withdraw cash at ATMs and even transfer the funds to their personal bank account. This means that funds on an Akimbo Gift card can be used for nearly anything once transferred to the reloadable Akimbo Prepaid MasterCard including personal payments, helping with rent or mortgage payments, or even transferring funds to a savings or investment account.
“We believe Akimbo Gift provides more value and flexibility than almost any other gift card on the market,” added Frost. “We’re reinventing the idea of a gift card so that you’re no longer forced to spend. With Akimbo gift you can move the funds to a reloadable Akimbo Prepaid MasterCard product and use the gifted money towards, savings, investments, or even to pay bills.”
“Akimbo Gift furthers our mission to build financial services that connect people. Now you can use the Akimbo platform to: send gifts, share money and transfer funds between card accounts just to name a few of the services. We’re thrilled to offer a multi-purpose financial platform for gifts, budgets, and allowances,” commented Louis Hoch, cofounder, President, and COO of Payment Data Systems.
Businesses can order Akimbo Gift Cards in bulk, as well as securely send gift cards electronically through the recently launched Akimbo Now platform and API. The Akimbo Now service allows business with the ability to disburse funds real time via an email sending an electronic gift card or by loading to an existing reloadable Akimbo Prepaid MasterCard accounts.
To learn more about Akimbo Gift Cards and our other products, please visit www.akimbocard.com.
Issuer Statements
The Akimbo Prepaid MasterCard® and Akimbo Gift MasterCard® are issued by Sunrise Banks N.A., St. Paul, MN 55103, Member FDIC, pursuant to a license from MasterCard International Incorporated. The Akimbo Gift MasterCard and the Akimbo Prepaid MasterCard are marketed and administered by FiCentive, Inc. (NASDAQ:PYDS). FiCentive, Inc. is a registered agent of Sunrise Banks N.A.
About Payment Data Systems, Inc.
Payment Data Systems is an integrated payment solutions provider to merchants and billers. The organization provides an extensive set of products to deliver world-class payment acceptance. Payment Data has solutions for merchants, billers, banks, service bureaus, and card issuers. The strength of the company is its ability to offer specifically tailored solutions for card issuance, payment acceptance, and bill payments. For additional information, visit www.paymentdata.com. Contact Michael Long for investor relations information at 210-249-4040 or email at IR@paymentdata.com.
Websites: www.streamprepaid.com, www.akimbocard.com, www.ficentive.com, www.paymentdata.com, www.zbill.com. Find us on Facebook®
About FiCentive, Inc.
FiCentive, Inc. is a turn-key prepaid card provider that quickly and securely delivers customized prepaid card programs for corporations, financial institutions, affinity groups or any organization which needs to deliver financial incentives to its customers, vendors, or employees. Our proprietary platform boasts the highest level of security, encryption and card association compliance. For more information about FiCentive, please visit www.ficentive.com or email info@ficentive.com. FiCentive is a wholly owned subsidiary of Payment Data Systems, Inc.
About Sunrise Banks, N.A.
Sunrise Banks, N.A., based in St. Paul, Minnesota, seeks to radically change the way urban communities and underserved people thrive by empowering them to achieve their aspirations. Sunrise is certified by the U.S. Treasury as a Community Development Financial Institution (CDFI), a designation given to approximately 109 banks nationwide. Sunrise Banks is also a member of the Global Alliance for Banking on Values and is a certified B Corp for its demonstrated commitment to transparent corporate governance and positive community impact. Visit Sunrise Banks at SunriseBanks.com, on Twitter @SunriseBanks, or on Facebook. Sunrise Banks is Member FDIC.
FORWARD-LOOKING STATEMENTS DISCLAIMER
Except for the historical information contained herein, the matters discussed in this release include certain forward-looking statements, which are intended to be covered by safe harbors. Those statements include, but may not be limited to, all statements regarding our and management's intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, the factors detailed from time to time in our filings with the Securities and Exchange Commission. One or more of these factors have affected, and in the future could affect our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. We believe that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, except as required by law.