Advanced Credit and Zoompass Team up for Pre-Paid Card Verticals
VENICE, FL–(Marketwired – Jun 16, 2016) – Advanced Credit Technologies, Inc. (OTCQB: ACRT) has issued the following update on the company’s business and information objectives going forward in the second quarter of 2016.
Advanced Credit Technologies, Inc. is pleased to announce it has agreed in principal to have Toronto based Zoompass (www.zoompass.com) facilitate its financial services processing for its various verticals, and to also include the TurnScor Pre-Paid Card. As the market expands and diversifies, prepaid card products are increasingly in demand by both the unbanked as well as the more seasoned banked population. This increased activity is demanding considerable attention from financial institutions, which are benefitting by making these cards more attractive to consumers. According to a recent study from Mercator Advisory Group, Inc., consumers loaded $276.7 billion onto prepaid cards last year and the organization predicts that number to exceed $568.4 billion by 2016. That makes it the fastest-growing non-cash method of payment in the United States.
“The explosive growth in this part of the financial services arena is why partnering with Zoompass, a leading global financial services company and developer of one of the leading white label mobile wallet solutions in the market today, creates such a powerful combination. Zoompass’s ability to offer products in all the channels opens up significant opportunities, such as payroll cards, student university cards, travel cards, and affinity cards makes them a natural fit with our marketing goals,” said Chris Jackson CEO of Advanced Credit.
Chris Jackson further stated, “Partnering with a company like Zoompass gives us the flexibility we need in the market place, the resources to go global, and still give customers the personal touch.”
“This is one of the hallmarks of our company,” stated Rob Lee, CEO, Zoompass Inc. “We pride ourselves on going the extra mile for customers and clients alike, and we’re really excited to help Advanced Credit Technologies, Inc. get their cards into the market place. This is a growing space and our virtual wallet truly compliments the card program. We’re extremely motivated to get these programs launched to start deriving revenues for both companies.”
Zoompass Inc. is a leading financial services technology company with a unique place in the Fintech space as both a technology platform provider and physical prepaid card provider. Zoompass provides businesses and government complete program management services for a wide range of open loop Visa® and MasterCard® prepaid and virtual card accounts. Zoompass enables businesses to provide their customers with a number of open loop card choices including, gift cards, incentive cards, check replacement cards and online virtual card accounts. The company also provides advanced mobile technology, enabling businesses to provide their customers with a white label mobile wallet solution, like Zoompass, with the ability to manage their card balances, bill pay, transfer funds and perform card to card money transfers in real time using their mobile devices. For more information about Zoompass, visit www.zoompass.com.
From time to time, the Company may issue news releases that contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be “forward-looking statements.” “Forward-looking statements” are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
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