Morgan Beaumont, Inc. Announces Contract With IPrepay Inc.
Morgan Beaumont, Inc., (OTCBB:MBEU) a premier technology solution provider to the Stored Value and Debit Card market as well as an issuer of signature-based Visa, MasterCard hologram cards and Debit Card Solutions announced today that it has signed a contract with IPrepay Inc., a subsidiary of Radiant Holdings and a leading issuer of prepaid products and services. Issa Asad is the CEO of IPrepay and has been in the telecom industry since 1996. IPrepay will utilize Morgan’s POS software and national cash loading network to offer Stored Value and Debit Cards to IPrepay’s prepaid calling card customers. The contract calls for IPrepay to issue as many as 1 million Stored Value Master Cards using Morgan Beaumont’s proprietary technology.
“Morgan Beaumont is delighted to be working with IPrepay to offer their customer base convenient, personalized financial products and services utilizing Morgan’s proprietary technology,” commented Morgan Beaumont CEO, Cliff Wildes. “Because IPrepay is a subsidiary of Radiant holdings and a leader in the telecommunications industry, we feel we are in a position to leverage Radiant’s points of presence.”
Issa Asad, President of IPrepay, commented, “Adding a Master Card Debit product will close the gap with our current customer audience (un-banked and sub-prime market) and arm IPrepay with a powerful product that will ensure a competitive edge in our market place. Adding value to our customers through our distribution is our goal. Morgan Beaumont’s products will be offered through points of presence that IPrepay currently has in place with its retail merchants. We plan to rollout / launch during the year-end holiday season.” April 10, 2010