MIAMI, July 5, 2016 /PRNewswire/ - Next Group Holdings, Inc. (OTCQB: NXGH) (the "Company") today announces that it has signed a definitive agreement to purchase from Dean Keatin Marketing, LLC ("DKM") Transaction Processing Products, Inc. (TPP, a Wyoming company), to acquire a controlling interest in AIM. The company AIM over the last 10 years in business has successfully generated over $1 Billion of stored value activations through its proprietary software and systems.
AIM provides the support, enterprise stored value product management software, and logistics infrastructure to some of the nation's largest known brands (Harley Davidson, AMC Theaters and SuperValu Supermarkets) to host Closed Loop (Gift Card) and Open Loop (Prepaid Debit / General Purpose Reloadable) card programs. AIM has developed its own in-house fraud prevention tool that reduces "card not present" fraud to less than 1%. In addition, AIM provides warranty processing for Gift Card, Prepaid and Warranty offerings on its proprietary copyrighted intellectual property. AIM has provided these services for several multibillion dollar Fortune 500 companies over the past 10 years.
AIM is currently directly contracted with I2C, Metro Bank and Money Gram. This shall allow NXGH to expand its Financial and remittances portfolio from its current NEXTCALA white label program (Next CALA Inc., a NXGH subsidiary), into Gift Cards, Co-Branded Open Loop reloadable cards, along with domestic and international remittances. This combination of the two will expand aggressively "Live your mobile lifestyle".
"Acquiring controlling interest in AIM will provide Next Group Holdings with a full duplex platform to reach our target markets with a variety of with our financial products offerings," said Arik Maimon, NXGH's Chairman and CEO. "AIM has established itself as an innovative, reliable and capable program manager for stored value products. This shall enable NXGH to have a unique proposition over its competitors," added Maimon.
"NXGH, together with its proprietary technology and its next generation HD Video platform AVYDA, which will be provided as a rewards program to all financial services customers, will change the way people are communicating and will improve the customer service experience," said Dennis Varghese. "After AIM being in business for over 10 years, I am proud to see AIM integrate with NXGH, which will be the leader in next generation financial services for the ones that adopt their banking services with mobile banking," added Varghese.
AIM technology solution operates in a redundant facility with PCI Level 1 compliant processing, maintaining a "zero single point of failure infrastructure" with multiple power grid supplies, 24/7/365 monitored infrastructure with multi-tier support, intrusion detection and prevention systems. Effective immediately, this processing service will be processing all of NXGH's services and products, including: Tel3 Pin-Less Customers, MVNO's Co-Branded Customer Portfolio and AVYDA HD Video per minute subscribers. All shall be under one technology umbrella, which was developed by AIM and will be able to provide a friendly navigation interface for the suite of NXGH subsidiary products. This marries both the heritage and robust proprietary Telecommunications and Financial roots for both NXGH and AIM's respective proprietary expertise in the financial stored value solution platforms and telecom verticals, all as one unified technology. This marriage will give the group the ability to accelerate all products to grow the group profitability and revenue at a more expedited pace and be prepared for the 2016 holiday season, especially with the new division of selling and manufacturing gift cards.
About Us: NXGH is a corporation headquartered in Miami, Florida, which, through its operating subsidiaries, engages in the business of using proprietary technology and certain licensed technology to provide innovative mobile banking, mobility, and telecommunications solutions to underserved, unbanked, and emerging markets. NXGH's principal executive offices are located at 1111 Brickell Avenue, Suite 2200, Miami, Florida 33131, and its telephone number at that location is (800) 611-3622. NXGH's web address is www.nextgroupholdings.com.
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NEXT Group Holdings, Inc. (OTCQB: NXGH) Telephone: 1-800-611-3622
SOURCE Next Group Holdings, Inc.