San Diego, California – December 4, 2006 – Global Vision Holdings, Inc., (Pink Sheets: GVHL), today announced the launching of 3 International Prepaid Debit Cards for different regions of the world.
December 3, 2006 (Press Release) --
World Market
Unlike U.S. banks’ issued Prepaid Debit Cards that can only be issued to U.S. resident per the requirement of the Patriot’s Act, Global Vision’s International Prepaid Debit Cards can be issued to just about anyone in the world without requiring credit, banking and employment history. This is because Global Vision’s international card products are issued in association with three different international banks from different regions of the world.
Global Vision’s CEO, Jack Chang, said, “There are many competitors in the U.S. Prepaid Debit Card market. However, there is little or no competition internationally. Therefore, our strategy is to focus on the International Prepaid Debit Card market, which is virtually untapped and enormous since more than 5 billion of the 6.4 billion people in the world are “un-banked.”
Consumers desire these cards for the security of their funds, convenience of ATM cash withdrawals and purchases at merchant locations, bill payment and telephone and online purchases. They are just like any regular bank debit card except they are prepaid and they can be loaded at banking as well as retail locations.
Because the cards can be issued to non-U.S. residents with or without credit, several very significant advantages of International Prepaid Debit Cards over U.S. banks’ issued prepaid and normal debit cards emerge:
1. Wider distribution and uses - The International Debit Card is a great product that can benefit people worldwide. The applications include as a General Purpose Spending Card, a Payroll Card, a Travel Card and a Funds Transfer & Remittance Card.
2. International Payroll - For companies with international employees and sales affiliates, paying with International Prepaid Debit Card is less costly than paying with checks and cash. Productivity and loyalty are further enhanced when employees are not concerned about getting their checks cashed,
3. Money Transfer - The most efficient & low cost way of remitting money to friends and relatives is Card-to-Card Transfer from one International Debit Card to the card of a second cardholder located anywhere. It is a person-to-person transfer rather than a location-to-location transfer, and it is instantaneous using the phone or through the Web at any time 7 days a week.
We now have distributors in the U.S., Europe, Asia, Australia and Africa. Starting in November of this year, we have already taken orders of thousands of cards. The financial incentives of doing business for our distributors and Global Vision include:
· Upfront commissions from the sales of the cards
· More importantly, from the cumulative monthly residuals from card account maintenance fees and cardholder usage fees such as ATM withdrawal charges and Point of Sale fees for purchases.”
About Global Vision Holdings
Global Vision Holdings, Inc. the business developer and wholesale marketer (with agents worldwide) of advanced payment systems products & services (for banked as well as un-banked people) that include:
· Prepaid Debit Cards – For end users, groups & co-branding issuers
· Credit & debit card processing outsourcing - for financial institutions
· Design, program manage & outsourcing of “Transaction Acquiring Networks” for banking as well as retail (bill payments & prepaid top-ups) transaction switching & processing.
Global Vision’s revenue model strives to create both initial and recurring revenue streams from a global customer base through mass distribution marketing channels. For further information, please contact (858) 525-5934 or visit www.Global-Vision.com.
The company’s CEO, Jack Chang, is the co-inventor of the ATM machine. See:
Http://www.Global-Vision.com/Bio.asp .
He is also a pioneer in the use of magnetic strips on bank cards, electronic funds transfer systems and PC-based in-bank systems. He has been CEO of payment services corporations and business and marketing strategist for Global 500 banks & corporations.
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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.
Unlike U.S. banks’ issued Prepaid Debit Cards that can only be issued to U.S. resident per the requirement of the Patriot’s Act, Global Vision’s International Prepaid Debit Cards can be issued to just about anyone in the world without requiring credit, banking and employment history. This is because Global Vision’s international card products are issued in association with three different international banks from different regions of the world.
Global Vision’s CEO, Jack Chang, said, “There are many competitors in the U.S. Prepaid Debit Card market. However, there is little or no competition internationally. Therefore, our strategy is to focus on the International Prepaid Debit Card market, which is virtually untapped and enormous since more than 5 billion of the 6.4 billion people in the world are “un-banked.”
Consumers desire these cards for the security of their funds, convenience of ATM cash withdrawals and purchases at merchant locations, bill payment and telephone and online purchases. They are just like any regular bank debit card except they are prepaid and they can be loaded at banking as well as retail locations.
Because the cards can be issued to non-U.S. residents with or without credit, several very significant advantages of International Prepaid Debit Cards over U.S. banks’ issued prepaid and normal debit cards emerge:
1. Wider distribution and uses - The International Debit Card is a great product that can benefit people worldwide. The applications include as a General Purpose Spending Card, a Payroll Card, a Travel Card and a Funds Transfer & Remittance Card.
2. International Payroll - For companies with international employees and sales affiliates, paying with International Prepaid Debit Card is less costly than paying with checks and cash. Productivity and loyalty are further enhanced when employees are not concerned about getting their checks cashed,
3. Money Transfer - The most efficient & low cost way of remitting money to friends and relatives is Card-to-Card Transfer from one International Debit Card to the card of a second cardholder located anywhere. It is a person-to-person transfer rather than a location-to-location transfer, and it is instantaneous using the phone or through the Web at any time 7 days a week.
We now have distributors in the U.S., Europe, Asia, Australia and Africa. Starting in November of this year, we have already taken orders of thousands of cards. The financial incentives of doing business for our distributors and Global Vision include:
· Upfront commissions from the sales of the cards
· More importantly, from the cumulative monthly residuals from card account maintenance fees and cardholder usage fees such as ATM withdrawal charges and Point of Sale fees for purchases.”
About Global Vision Holdings
Global Vision Holdings, Inc. the business developer and wholesale marketer (with agents worldwide) of advanced payment systems products & services (for banked as well as un-banked people) that include:
· Prepaid Debit Cards – For end users, groups & co-branding issuers
· Credit & debit card processing outsourcing - for financial institutions
· Design, program manage & outsourcing of “Transaction Acquiring Networks” for banking as well as retail (bill payments & prepaid top-ups) transaction switching & processing.
Global Vision’s revenue model strives to create both initial and recurring revenue streams from a global customer base through mass distribution marketing channels. For further information, please contact (858) 525-5934 or visit www.Global-Vision.com.
The company’s CEO, Jack Chang, is the co-inventor of the ATM machine. See:
Http://www.Global-Vision.com/Bio.asp .
He is also a pioneer in the use of magnetic strips on bank cards, electronic funds transfer systems and PC-based in-bank systems. He has been CEO of payment services corporations and business and marketing strategist for Global 500 banks & corporations.
####
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.
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