Pinnacle Activity Ticker
NEWS: 11/3/2010 Flint Telecom Launches Exciting Prepaid Debit Card Program in Partnership With Alterna Card Services Inc.
Partnership Will Allow Point of Sale Top Up of Alterna Prepaid Debit Cards at Retail Outlets Across the United States
OVERLAND PARK, KS--(Marketwire - November 3, 2010) - Flint Telecom Group, Inc. (OTCBB: FLTT), an International telecoms technology and services organization, through Power2Process, a wholly owned subsidiary, announces the launch of an exciting new valuable prepaid debit card program under a partnership program with Alterna Card Services, Inc.
The partnership program allows Alterna prepaid debit cards to be sold, registered and loaded in targeted retail outlets in areas with high immigrant populations across the United States. The Alterna debit card provides financial freedom and security for immigrants, non-banked consumers, and anyone looking for a better way to manage money. The Alterna Card works just like any bank-issued debit card, without ever having to worry about overdraft fees or the risk of going into debt. Alterna will offer their customers a range of everyday services not normally available to them, such as withdrawing money from any ATM Worldwide, paying bills online, and having payroll checks deposited directly to the card, which cuts down on cumbersome check cashing queues and costs.
Even more significantly, Alterna customers will be able to send money around the world instantly as a convenient low cost alternative to traditional international money transfer services such as Western Union. Furthermore, under this program Alterna will integrate Flint prepaid calling services with special discounts on international calling from the same card.
Alterna expects to start distributing Flint debit-cards through participating retail outlets as early as next month. Alterna is the innovator of a patent-pending prepaid card loading process which loads prepaid debit cards at the Point of Sale. Alterna will adjust their existing POS terminals that are presently configured to load gift cards, to facilitate Flint pre-paid Debit Cards.
Alterna Card Services is a full-service sales and marketing company, well established in population centers with a high concentration of unbanked, immigrant and natural born citizens. Alterna provides knowledge and expertise in the prepaid industry, with money sharing programs, specifically designed for people unable to obtain bank accounts due to credit issues or citizenship status.
Prepaid services are among the fastest growing service industry segments globally. In 2007, The World Bank estimated that worldwide remittances exceeded $318 Billion. Independent research commissioned by MasterCard estimates the U.S. market opportunity for branded pre-paid cards to be in excess of $440 Billion by 2017, a 400% increase over the market value estimated in 2009.
Madeleine Tapia, President of Alterna Card Services, Inc., commented on the partnership program, "The acquisition of Power2Process by Flint Telecom is very good news for our Company. Alterna's specialized footprint for retail stores includes our Alterna Kiosk and LCD display which also serves as cross-marketing and advertising platform. We expect the Alterna prepaid MasterCard debit cards to immediately address a market of over 12 million unbanked non-U.S. citizens, plus over 30 million unbanked U.S. Citizens across the country."
Bernard A Fried, President and COO of Flint Telecom Group, commented, "The partnership program with Alterna Card Services Inc. proves the value of our Power2Process acquisition. There are several financial processors in the U.S. that provide processing for debit card programs, however not many offer all of our features. The reason debit card program managers continue to choose Power2Process is because of its integrated features and the competitive price offered to them. The partnership is specifically designed to be geared towards the highest demand and faster growing markets in the U.S. today. Power2Process will earn a monthly fee per active card and a processing fee per every transaction per card generating recurring and growing revenues into the future."
About Flint Telecom Group, Inc.
Flint Telecom Group Inc. is a fast growing Telecoms Technology Organization with a portfolio of companies that deliver next-generation IP communications Products and Services. The Company was founded by telecom and technology entrepreneurs with a proven track record in building global technology companies. Flint Telecom has grown both organically and through corporate activity and is traded on the OTC Bulletin Board® (OTCBB) under the ticker FLTT.OB. Additional information may be found at www.flinttelecomgroup.com
About Alterna Card Services Inc.
Alterna Card Services is a full-service Sales and Marketing company in the Hispanic, Caribbean and unbanked markets. Strategic partners include leaders in the payment processing, financial services, and retail distribution industries. Together with these strategic partners, Alterna Card Services provides our customers with financial services and electronic funds management and funds-movement products and services specifically designed for them. Alterna distributes its products and services through its retail and corporate partners. Additional information may be found at www.alternacardservices.com
This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "intends," "believes," and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, risks associated with the integration of businesses following an acquisition and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Investor Relations Contact: