MLON acquires 60% stake in PayChest
06 January 2006 | 3229 views | 0
Source: MLON International Ventures
MLON International Ventures, Inc. (OTCBB:MLON) is acquiring up to 60% stake in PayChest, Inc., a provider of alternative payment processing to PayPal, Inc. from Wall Street Securities, Inc. (OTCBB:WSSE) and changing its business focus to provide payment processing to the hundreds of millions of consumers around the world who are unable to process payments with existing providers like PayPal, Inc.
Wall Street Securities will become one of the largest shareholders of MLON as a result of this acquisition. And MLON intends to change its name to PayChest, Inc upon completing the acquisition.
"There is a huge underserved marketing of hundreds of millions of people in countries all over the world that are unable to process credit cards, as PayPal does not provide services for a large number of countries outside the United States," said Alejandro Cerda CEO of MLON International Ventures, Inc. "PayChest has recently finalized the roll out of its Internet Payment System and intends to publicize these services throughout the global community beginning in quarter one of 2006 - we think there is a large market of consumers who need a low cost effective way to purchase goods traditionally and online (ecommerce) and then have a way to securely process the transaction and/or make payments available to third parties in countries that are again not served by PayPal, Inc. and other providers."
MLON is moving into the $34B financial services and global currency markets through its acquisition of PayChest, Inc. via Wall Street Capital, Inc. The market is large and underserved at present, as PayPal, Inc. is only able to provide payment processing in approximately fifteen countries outside the United States, which means there are significant opportunities for us to become the dominant supplier in several hundred countries scattered throughout South America, Europe, Africa and Asia.
We intend to market our financial transaction processing services where PayPal, Inc. is not active by utilizing a powerful viral marketing method - each user of our services, be it vendor or consumer, will require others to use the service in order to complete a financial transaction. Another tremendous accelerant for our new business model is the growth and acceptance of Ecommerce - the global Internet community is over 1 Billion in size and projected to hit 2 Billion within the next ten years.