In 1967′s Oscar winning movie “The Graduate”, Benjamin, played by Dustin Hoffman, was given this advice,
Mr. McGuire: I want to say one word to you. Just one word.
Benjamin: Yes, sir.
Mr. McGuire: Are you listening?
Benjamin: Yes, I am.
Mr. McGuire: Plastics.
Benjamin: Just how do you mean that, sir?
Although much has changed in the past 41 years, FundsTech is focusing on the same word, “plastics”, except this time it’s in the form of FundsTech’s proprietary FTC Cash Card and they are aiming their cards at the more than 50% of the world’s workers who don’t have a bank account.
Governments abhor employees who are paid in cash and corporations are being pressured to find ways to eliminate cash payrolls yet, with traditional banking being out of reach of most of the world’s unbanked, the options were limited. Enter FundsTech Corp with the answer! FundsTech’s cash card acts like a traditional debit card except it doesn’t require that the user have a normal bank account. Working with banks and employers, FTC Cash Cards can now be provided to these unbanked workers and their payroll can be electronically deposited into these cards, totally eliminating cash payrolls once and for all.
In turn, these cards can be used in ATM machines world wide and in all other respects they are just like debit cards that are attached to a traditional bank account. It’s the right product at the perfect time.
Strategic alliances have been established in Europe and South Africa and the company recently announced that they have finished installing their processing platform in one of Africa’s largest mobile phone providers secure facility in preparation to activating the 1.5 million cards their strategic partner is reporting. The company indicates that their European strategic partners have agreed to purchasing an additional 200,000 cards.
The “sell once – collect forever” concept is at work here as well. We are told that debit cards on average generate around $12 per month in gross revenues. Once a card is in the hands of an active user, the revenue stream continues indefinitely. It doesn’t take a rocket scientist to figure out the math on this one.
FundsTech’s target market is waking up to the benefits of the FTC Cash Card and it’s time the investing public did as well. They have targeted 2008 as the year that revenues will begin and positive cash flow will be achieved. As revenues begin, we think the market will respond very positively. This means that now could be the perfect time to start a position in this up and comer. You can read our report by clicking here. We also have links to interviews and in-depth report on the company as well.
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NOTE: We have been hired by a non-affiliated independent shareholder to feature FundsTech on our site for 30 days. We are being paid ten thousand dollars and agreed to accept freely tradable shares in lieu of cash. Naturally, we are going to want to say nice things about the company so keep that in mind as this means a conflict of interest exists. Please read our full disclaimer by clicking here.
