MIAMI, August 2, 2017 /PRNewswire/ --
- CUENTAS Will Include Unprecedented Access to Discounted Products and Services from More Than 100 of the Leading Retail Gift Card Brands, Including Airlines, Major Department Stores, Movie Theaters, Online Music & Gaming, Restaurants, Sporting Goods Retailers, Resorts & Theme Parks, and Online Retailers
- Company Will Simultaneously Launch Mio, Single-Use Card Platform With CUENTAS Interface
Next Group Holdings, Inc. (OTCQB: NXGH) today announced the company's plans for launch of a new 24/7/365 'virtual bank' geared towards the nation's estimated 103 million+ unbanked/underbanked consumers, CUENTAS. Created for consumers largely concentrated within the country's Hispanic population, CUENTAS, un banco de gente (a bank of people), recognizes the needs of the estimated 103 million unbanked/underbanked individuals in this country, whose annual remittances to Mexico are estimated at more than $30 billion.
CUENTAS will be available to meet the needs of these consumers through a vast retail network of retail locations made accessible by Next Group Holdings' previously announced White Label Card Program Services agreement. https://www.otcmarkets.com/stock/NXGH/news/Next-Group-Holdings-Extends-Agreement-With-InComm-Financial-Services--Paves-the-Way-for-Program-Growth-and-Enhanced-Customer-Experience?id=147795&b=y.
Unlike any other banks, either virtual or brick-and-mortar, CUENTAS offers accountholders unprecedented discounts to more than 100 of the largest and most influential brands. CUENTAS accountholders will be able to seamlessly purchase gift cards and realize significant discounts from the face value, allowing them to realize immediate savings with airlines, major department stores, movie theaters, popular resorts and theme parks, restaurants, online music and gaming, sporting goods retailers, and some of the biggest online retail brands in the world. In addition, CUENTAS will offer rewards that include international long distance calling, and CUENTAS accountholders will also have the ability to reload prepaid cell phone accounts in the USA and international accounts directly, a benefit that is not currently offered by any other virtual bank.
Simultaneously with the launch of CUENTAS, NXGH will launch Mio, a single-use prepaid card platform that can also interface with a consumer's CUENTAS account, making for a banking solution that is seamless and all-encompassing.
Key to the power of CUENTAS is the program's flexibility and sheer volume of retail locations for access. CUENTAS accountholders can enter a retail location and load from $20-500 daily into their account. Then, by accessing a single mobile application, funds can be moved from a CUENTAS account into a mobile "wallet," which allows for direct transfer of funds to countries throughout the world. Mio is a one-time use, non-reloadable card with a key advantage over other prepaid cards in the marketplace; funds from a Mio card can be uploaded into a CUENTAS account.
Next Group Holdings, Inc. recently announced results for its first quarter of fiscal year 2017 which ended March 31, 2017, including record earnings of $811,458 or .03 per fully diluted share.
About Next Group Holdings, Inc.
Next Group Holdings, Inc. (OTCQB: 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 owns 94% of the issued and outstanding shares of NEXTCALA, one of the corporation's four operating subsidiaries.
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SOURCE Next Group Holdings, Inc.