SAN DIEGO -- Stored Value Marketing Inc. (SVM), a provider of stored-value card programs, said it has entered into an agreement with Worldwide Financial Services (WFS), dba Express Payment Solutions (EPS), to deploy the EPS cash deposit services to load funds onto its numerous prepaid debit card programs.
Under this agreement which was facilitated through the Agent agreement between EPS and GLOBALCash Inc., a subsidiary of PayStar Corp., SVM will use the EPS proprietary depository network consisting of 12,000 nationwide bank branches representing four [image-nocss] leading NA banks.
Mike Moneymaker, president of SVM, said, This partnership greatly enhances our potential to infiltrate the market on a countrywide scale. The EPS bank branch network expedites our card activations by providing our cardholders with immediate funds loading convenience through familiar local bank branch offices in their neighborhoods. We resolutely believe that offering convenient, safe and secure cash deposit services represents the best solution for our cardholders.
Fred Rackers, business development consultant for GLOBALCash, said, SVM has developed strong direct marketing initiatives for its stored-value products, and our national footprint enables them to maximize their penetration potential.
WFS is a privately held company located in Indianapolis.
GLOBALCash provides its distributors and clients with national bank load centers and a suite of prepaid stored-value products. GLOBALCash is a partner in a prepaid ATM debit card program for the government project that will enable millions of underserved and subsidized housing individual's access to prepaid ATM debit cards that can be used for payment of various goods and services everywhere ATM debit cards and major credit cards are accepted and online.
SVM is an accelerator in providing financial and cashless solutions in the new economy. SVM has identified the growing market of cashless consumers, offering to it money transfer services, cobranding unit, payroll services division, ECash and merchant and licensee affiliate programs. SVM employs financial solution experts and marketing and strategic sales professionals to guarantee its services to single convenience store owners, payroll providers, Internet entities or large companies.