FNDS3000 Corp Reports Pre-Paid Microfinance Card Program Is Gaining Momentum in South Africa

JACKSONVILLE, Fla., Aug. 11 /PRNewswire-FirstCall/ -- FNDS3000 Corp (OTC Bulletin Board: FDTC) (Frankfurt: "FT4," A0MWLG), an international prepaid processing company currently introducing electronic payment solutions to the South African market, today issued an update related to its prepaid microfinance card program currently being offered to micro-lending institutions in South Africa, which provide small business and personal loans to business owners and individuals.

As addressed in prior announcements, the Company began providing this new service offering with several reputable microfinance companies earlier this year.  As one of many prepaid programs supported by FNDS3000's processing platform, its prepaid microfinance card program provides accredited South African micro-lending institutions the means to provide loans safely and securely while eliminating costs associated with cash processing and administration. Through the issuance and activations of FNDS3000's microfinance cards, cardholders can access loaned funds, pre-loaded onto the branded prepaid card by the micro-lender, on a 24/7 basis simply by using an ATM.  Further, cardholders can use the prepaid cards wherever MasterCard is accepted to make purchases, pay bills, book travel, and the like, to better operate their businesses or address their personal financial needs.

Robert Klein, President and Country CEO, South Africa, stated, "During the last four months, we received 13 applications from micro-lending companies interested in utilizing our prepaid microfinance card solution.  The initial response to the program by both participating micro-lenders and their customers has been very strong, leading us to believe that this service offering could become a material contributor to our near term revenue growth and a major component of FNDS3000's future success."

In South Africa, the vibrant microfinance industry is experiencing tremendous growth, contributing in excess of 15 billion ZAR (US$2 billion) per year to the country's financial services sector, according to MicroFinance South Africa, a leading industry trade organization. There are thousands of start-up and small companies in the South African market who rely on receiving frequent, modest loans from micro-lending institutions to support and expand their businesses – many of whom do not have or do not qualify for a bank account, much less conventional bank lending.

About FNDS3000 Corp

Headquartered in the U.S. with operations in South Africa, FNDS3000 Corp is engaged in executing a series of international growth initiatives designed to position the Company as a major player in the world's fastest growing payment card segment: prepaid cards.  Given that 40% of the adult population in South Africa is currently unbanked or underbanked, FNDS3000's initial focus has concentrated on offering tailored prepaid card programs and services to business customers in this developing prepaid market, including network branded and closed loop programs that support employee payroll, insurance, medical aid, gift cards, prepaid cellular charges and small-scale international transfer of funds. The Company provides these programs and services through a proven, proprietary U.S. processing platform that has been designed for international and cross border capability.  For more information, please visit www.FNDS3000.com, or follow us on Twitter @_FNDS3000.  

Forward Looking Statements

Matters discussed in this press release contain forward looking statements.  Investors are cautioned that such forward looking statements involve risk and uncertainties, which could significantly impact the actual results, performance, or achievements of the Company.  Such risks and uncertainties include, but are not limited to, the potential loss of our relationships with each of the parties that sponsor our cards and banks that manufacture, issue, and own the cards; the loss of our service providers; security breaches of our electronic information; the inability to raise sufficient capital to fund its operations; and other risks as may be detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.  The Company assumes no obligation to publicly update or revise its forward looking statements even if experience or future events make it clear that any of the projected results expressed or implied herein will not be realized.

SOURCE FNDS3000 Corp