WikiLoan Expands Offerings With Branded Prepaid Debit Card
WikiLoan has announced the launch of a private label, prepaid debit card that can be used with the WikiPay platform.
Here is the press release:
LOS ANGELES, Feb. 29, 2012 /PRNewswire/ — WikiLoan, Inc. (“WikiLoan”, or “the Company”) is pleased to announce that it is launching a private-label prepaid debit card on March 1, 2012 for users of the WikiPay platform, its low-cost, cash-based mobile payment and marketing solution. Prior to the merger between WikiLoan and WikiPay, WikiPay signed a Strategic Partnership with TAC Financial, Inc. to issue a branded prepaid card that provides users with Direct Deposit, Mobility Services, Bill Payment, and Health and Wellness Services. The card will not be provided to users of the WikiLoan platform or be used for lending activity.
“There is still a disconnect between consumers and the ‘mobile wallet’ concept. Today, consumers understand there is cash value on a plastic card, but they are not quite convinced there is cash value on a mobile phone. We decided the best way to mitigate the disconnect was to link a prepaid card to the WikiPay platform. That way, consumers could instantly transfer their WikiPay balance from their phone to their linked prepaid card, giving them peace of mind. We believe this is the key component for user acceptance and adoption. As a result, we spent months beta testing our real-time prepaid card load technology. After it was perfected, we spent months more seeking the perfect partner to launch the WikiPay card program. The partner had to be technologically savvy, while sharing the vision of providing a low-cost card to the masses. We’re convinced that we have found the ideal partner in TAC Financial and are anxious to launch what we believe will be an enormously successful campaign,” stated Edward C. DeFeudis, WikiLoan President.
“TAC Financial is pleased and proud to partner with WikiPay. We believe that WikiPay’s Peer-to-Peer payment technology and marketing solution is the premier mobile user experience and that it will position TAC Financial in the forefront of mobile financial management,” said Roy H. Eder, TAC Financial’s Chairman and CEO. “TAC is one of the fastest growing industry companies due to its suite of value-add financial and benefit services to the estimated 70 million underbanked working adult population in the United States. Our Mission is to help workers and their families to lead more productive lives and become highly productive contributors to the U.S. Economy. WikiPay and its mobile peer-to-peer payment solution gives TAC a valuable mobile offering to our Members, growing to just under 100,000 over the past few years. Our success is due in large part to our strategic partners; WikiPay being one of the best.”
ABOUT THE WIKI GROUP, INC.
The Wiki Group, Inc. owns and operates two proprietary state-of-the-art technology platforms, WikiPay and WikiLoan.
WikiPay is a low-cost, cash-based mobile payment and marketing platform solution for Peer-to-Peer (P2P), Business-to-Consumer (B2C), Consumer-to-Business (C2B), and Business-to-Business (B2B) transactions. The key driver for WikiPay is its low transaction fees. WikiPay is FREE for payments between members. Additionally, WikiPay’s mobile marketing application, WikiBlast, enables merchants to reach their client base instantly with a variety of customizable SMS marketing programs. For more information, please visit: www.wikipay.com or the mobile website: m.wikipay.com.
WikiLoan is a low-cost peer-to-peer lending platform that works through the participation and collaboration of family and friends through social networks. The company’s website www.wikiloan.com provides repayment schedules and documentation for loans, along with proprietary administrative tools, which enable users to securely pull credit reports and automate the loan repayment process.
FORWARD LOOKING STATEMENTS
This news release may include “forward-looking statements” regarding The Wiki Group, Inc., and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where The Wiki Group, Inc. expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. The Wiki Group, Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.