Source: O2 Secure Wireless
O2 Secure Wireless (Pink Sheets: OTOW) is pleased to announce that February 1, 2012, will be the "official" launch date for the roll out of its new prepaid MasterCard that aims to provide services to the world's growing unbanked and underbanked population.
The prepaid Master Cards featured will be made available to all clients domestic and abroad and will serve to additionally benefit to the Company by way of facilitating ease of payment for services. "We expect this action to expand the Company, and will not only enable our existing/future clients to take advantage of a distinctly convenient payment method, but we anticipate that executing the opportunity to target such a large and growing part of the population, with financial options not commonly available, will position the Company to generate significantly increased levels of profitably. Considering this market expects to exceed $150 billion in 2012, we believe the results will be a very big advancement for the company," stated Val Kazia, CEO, O2 Secure Wireless.
The O2USA MasterCard differs from traditional MasterCard functionality in that it guarantees approval for all applicants over the age of 18. With low fees, notably lower than that of other providers such as Wal-Mart, the O2USA MasterCard will make it possible for those without a bank account and or low credit score to shop without restriction on a global scale.
The O2USA MasterCard works like a checking account. Once a direct deposit is made, goods can be purchased at millions of locations worldwide. Users are also able to withdraw money from any ATM that displays the MasterCard, Maestro, or Cirrus acceptance signs. The card also facilitates online shopping and bill payment. Direct deposits are free and there are no overdraft fees. Cards can be ordered through the Company's new websites: www.O2usacard.com and O2tarjeta.com
Statistics estimate that there are 2.4B unbanked and under-banked consumers worldwide; data released by KPMG suggests the under-banked financial market includes 88 million adult Americans with nearly $1.3 Trillion in annual income. It is forecasted that as many as 6 million additional Americans could join the ranks of the underserved within the next two years given current economic conditions. KPMG considers the "underserved" population to be those individuals without bank accounts (the unbanked) and the "underbanked," which it identifies as those who lack access to incremental credit. Also its study of the underserved market identified four segments among the financially underserved, each with distinct socio-economic characteristics. These potential clients include: Unbanked, Rebuilders, Work-to-pay and the Emerging retail sectors.
The O2USA MasterCard is insured by the F.D.I.C and backed by MasterCard's Zero Liability policy, providing consumers with fully protected financial freedom of Commerce.