MIAMI, November 1, 2016 /PRNewswire/ --
Next Group Holdings, Inc. (OTCQB: NXGH) (the "Company"), through its Accent Intermedia LLC ("AIM") division, generated $131,461 in revenue during the quarter ended September 30, 2016. AIM's revenue is in addition to the telecommunications revenues reported recently.
Acquired by Next Group Holdings in July 2016, AIM provides infrastructure and program services that allow national brands to host Closed Loop (Gift Card) and Open Loop (Prepaid Debit / General Purpose Reload) card programs.
AIM has generated over $1 Billion of stored value activations through its PCI Compliant system over the past decade servicing many industry leading companies, including Harley Davidson, AMC Theatres, Super Valu, Applebee's, IHOP and more.
"AIM is an important piece of our financial solution platform that strengthens our position, now and in the future," stated Arik Maimon, the Company's Chairman and CEO. "Combined with record revenue of $181,500 from our telecom subsidiaries in September and the ongoing rollout of our InsightPOS platform, we're on track to have a strong end to 2016 and an even stronger 2017.
In September, the Company began the rollout, sale, and installation of its state-of-the-art, "super-functional" point of sale system, InsightPOS. The system manages the sale and inventory of hard goods, food, fuels, long distance telephone service, cellular "top ups" (US & International) and bill pay for utilities. In the fourth quarter, the system is expected to be enabled for US & International money transfers, rewards programs, general purpose reload debit cards (VISA®, Mastercard®), digital gift cards, and other financial products.
NXGH is targeting an affiliated database of approximately 8,800 active retail stores that sell prepaid telecommunications products to primarily unbanked populations. With the InsightPOS system, these retail stores will be able to augment their offerings with international cellular top-ups, utility payments, and financial services targeted to the needs of their unbanked consumers.
For more information, visit the website http://www.pos.nxtgn.net
About Next Group Holdings (NXGH):
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. Learn more at http://www.nextgroupholdings.com.
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NEXT Group Holdings, Inc.
SOURCE Next Group Holdings, Inc.