As Stated by company CEO Massimo Barone: “We are pleased to announce that an industry related company, Texas-based NetSpend Corp, is being acquired by Capital One for $700,000,000 USD in Cash.
This consolidation from a Traditional Card issuer into the prepaid segment brings forward the value of SmartCard Marketing Systems Inc’s continued efforts and growth through the Velocitymoney™ offering and once more opens the market because yet another major player is bought out.
About 50 million citizens do not have access to or fail to have a traditional bank account or are without a Debit card/Check card in the U.S. alone. Our position as an international marketing company allows us to expand and capture market share at which just 3 years ago was not available. At current levels we believe that banks will continue to acquire positions in the prepaid market rather than attempt to start up to further continue their growth and seek companies such as SmartCard Marketing to set the stage for expansion."
We seek Safe Harbor.
Contacts:
Max Barone, 1-866-774-2555
maxbarone@gosmartcard.com
www.gosmartcard.com
