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July 19, 2011 09:15 AM Eastern Daylight Time
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--PrepaYd, Inc., (PPDC.PK) entered into a private label services agreement with Sprint (NYSE:S). Pursuant to the agreement, PrepaYd, Inc. will become a Mobile Virtual Network Operator (MVNO) and will be able to provide its own branded wireless services using the Nationwide Sprint Network.
“Through the MVNO model, we are able to help PrepaYd reach under-served markets while also delivering a premium prepaid communications experience.”
PrepaYd, Inc. through its wholly owned subsidiary PrepaYd Wireless, Inc. will become a Wireless Service Provider by offering Prepaid Wireless Service on the Nationwide Sprint Network. “Leveraging the Sprint Network will let us focus more on acquiring customers and less on maintenance of our network services. We will be able to offer our customers reliable mobile services while focusing on acquiring customers from our target market and development of our mobile financial services offerings,” stated Josh Berman, Vice President of PrepaYd Wireless.
“Sprint is pleased to build relationships with companies such as PrepaYd to deliver comprehensive wireless services,” said Matt Carter, president, Sprint Global Wholesale Solutions. “Through the MVNO model, we are able to help PrepaYd reach under-served markets while also delivering a premium prepaid communications experience.”
PrepaYd, Inc., through one of its wholly owned subsidiaries Bank Freedom, markets prepaid debit cards to the estimated 60,000,000 underbanked consumers in the U.S. and to the estimated 40,000,000 banked consumers in the U.S. with money management issues. Besides consumers, the company markets its prepaid business expense cards to small businesses to control and manage their employees spending.
The company believes this same demographic has the demand for prepaid wireless services. Prior to entering the agreement with Sprint, the company conducted a survey to its existing customer base and the results of that survey validated the company’s plan to offer prepaid wireless services.
“The prepaid debit card business is in a Hyper Growth phase right now. Our customer base and the customers we market towards understand the benefits of prepaying for services. We believe Prepaid Wireless is a perfect product for us to offer and it fits our company’s long term business development plans,” stated Rick Galasieski, SVP PrepaYd, Inc and President of PrepaYd Wireless, Inc.
About PrepaYd, Inc.
PrepaYd, Inc. is a provider of financial services in the prepaid debit card industry. The company, through its wholly owned subsidiary, offers prepaid debit cards to America’s estimated 60 million underbanked citizens. In addition to the underbanked consumer demographic, small and mid-size businesses have found a much needed product with the company’s Prepaid Business Expense Card Program. With the diminishing credit card markets, companies need a new way to fund employees’ expenses other than through traditional credit cards or cash reimbursements. For more information about Prepaid Card Holdings, Inc. visit www.PrepaYdinc.com.
About PrepaYd Wireless
PrepaYd Wireless, Inc. is a Wireless Service Provider that offers mobile services to an estimated 110 million consumer demographic. Prepaid Wireless Services is an alternative to the traditional Postpaid Wireless Service Plans provided by major carriers. In addition, PrepaYd Wireless intends to make all of its available phones and wireless plans compatible for mobile financial services. For more information about PrepaYd, Wireless Inc. visit www.PrepaYdWireless.com.
Contacts
PrepaYd, Inc.
Nona Vahdat, Investor Relations
949-553-9044 ext. 221
or
PrepaYd Wireless, Inc.
Josh Berman, Vice President
949-271-2129
josh@prepaydinc.com
Nona Vahdat, Investor Relations
949-553-9044 ext. 221
or
PrepaYd Wireless, Inc.
Josh Berman, Vice President
949-271-2129
josh@prepaydinc.com
