DALLAS–(BUSINESS WIRE)–. Inc. (”Titan”) (OTCBB:) a high growth diversified holding company today announced that the Company’s Card Services division has reached two milestone agreements with CardMarte and MetaBank both established leaders in the stored value and remittance industries to support the technological delivery and distribution of its Guarda™ instant money card. Titan Card Services has been projected to generate revenues of $45 million in fiscal 2008 as management continues to execute on significant opportunities for revenue and earnings growth.
Titan recently formed Titan Card Services to capitalize on the burgeoning $289 Billion international prepaid money transfer sector. The launch of Card Services further validates the Company’s high-growth business model and provides a seamless brand extension for Titan’s growing family of prepaid products which are distributed and sold through a nationwide network of more than 86,000 retailers.
“The Guarda Instant Money Card offers a valuable tool to consumers,” said Kurt Jensen. President and Chief Executive Officer of Titan Communication Division and Card Services. “Our product allows the consumer unlimited reloads and remittances addition to the value added functionality of being able to make purchases. ATM withdrawals and even use the card as a re-loadable prepaid long distance calling product.”
The Guarda prepaid calling card products are Card Services’ first branded products. Titan chose the Guarda™ instead of Guardian™ to emphasize the Spanish translation of “security and guard.” Guarda™ appeals to Titan’s core demographics of first and second generation Americans one of the fastest-growing markets in the U. S.
The Guarda money transfer product involves a complex electronic transfer of funds to a remittance partner with a worldwide paymaster network for disbursement of the funds. The product is re-loadable at any retail store which has Global Re-Cash POS activation and value load software application downloaded to any existing Verifone. Hypercom or Lipman multi-application terminal or by using the virtual terminal with internet access.
The Guarda prepaid card can be used to make repeated money transfers. ATM withdrawals and in store or online purchases. Registered customers may use their cell phone to check their balances transaction history or to send money using the Rocket Mobil Messaging SMS technology.
Given Titan’s familiarity with the prepaid sector and the specific needs of its core demographic customer base which includes first and second generation Americans the Company’s senior management identified a significant need in this growing market to transfer funds internationally.
While fast and convenient money transfer is very attractive to consumers at the core of the Guarda products is an instant issue prepaid debit Master Card. Consumers will be provided incentives to move up the value chain from a one time use remittance to multiple remittances and finally onto a personalized prepaid debit card. Through the combination of proprietary card-based technology and the resources of industry partners while offering debit card capabilities. Guarda products are unique in the remittance space. To protect its proprietary technology. Titan recently retained a leading Washington D. C.-based intellectual property firm and also filed a patent application that is currently pending.
The competitive landscape in the money transfer industry is diverse. Western Union a company with 305,000 agent locations and $1.2 billion in net income in fiscal 2006 is the largest accounting for 17.2% of all cross border transfers. Money Gram is currently the second largest with 125,000 agent locations and $156 million in net income in 2006. Other companies include online transfer operations card-to-card bank-to-bank and others. Each model provides complementary services but ultimately accomplishes the same goal: moving money across the border to loved family members and friends. The average remittance amount is between $300 and $400.
From a customer perspective the Guarda product is a simple three step process. First the customer purchases the product. Second the customer calls customer service to register and provide basic information. Third the customer is provided with the ability to contact the receiving party via live transfer or using the INTL LD PIN provided with the product.
“This opportunity to redefine remittance delivery is unprecedented and potentially lucrative,” said Max Day. Co-founder of CardMarte. LLC. Rocket Mobil Messaging LLC and Global Re-Cash LLC. “The combination of Titan’s reach and trusted products and our infrastructure and relationships with the necessary financial partners will result in new product offerings that will deliver enhanced value to this burgeoning customer base.”
“The development of the Guarda products as an initial remittance offering is timely,” said Frank Murphy of Rocket Financial Services LLC. “This initial product launch exemplifies the term “synergy” as we have collaborated to create a tremendous solution for first and second generation Americans.”
CardMarte is the card management system provider program manager and developer of private label prepaid debit cards in the stored value space and was the first company to sign with Metabank. Metabank is the world’s largest issuing bank of prepaid debit cards.
“We have performed focus groups and market analysis that validate that the market acceptance for Guarda is high,” said Bill Streidl. Executive Vice President of Titan Card Services. “We have developed a product that utilizes the process consumers are familiar with and already use to send money but that delivers better value and convenience better than the established providers in the money transfer space.
CardMarte is the premier “one stop shop” in the space for pre-paid programs services processing card management systems. U. S and International bank relationships and is licensed to provide world wide remittances with cash pick up capabilities to over fifty thousand locations worldwide. CardMarte has issuing bank partners and international processing partners in several Latin American countries. Using their proprietary card management system which is integrated with the BIN’s of each bank load networks mobile payment networks and other value added services to maintain customer loyalty can manage the transactions on both sides of the border with real time on-line reporting and commission pay out to multiple payees with modifiable fee table structures. Their unique combined and integrated platform flexibility is extremely robust and unlike any in the market space.
Rocket Mobil Services LLC SMS technology can be used with any cell phone and is integrated with carriers nationally and internationally to provide a large range of services to customers in several different markets segments and may be integrated with any host provider through web services or API.
Global Re-Cash LLC POS technology can provide POS activation loading un-loading balance card to card and other transactions may be added according to host provided services. This application can be easily downloaded onto multi-application terminals in minutes and allows controlled distribution channels to build their own activation and load networks. This application can reside along side any other terminal application without any interference and is very intuitive.
Rocket Financial Services LLC is a leading global innovator and facilitator of prepaid bank card products and services that are easy to acquire easy to use highly secure and extremely cost effective. RFS works with banking institutions card issuers processors load networks and Mobil payments platforms to offer the most flexible comprehensive and best-fit applications to compliment a current or planned card program.
is a diversified holding company with a dynamic portfolio of subsidiaries spanning international telecommunications electronics and homeland security consumer products and energy resources. Through our nine wholly-owned subsidiaries we take advantage of valuable synergies between our subsidiaries to maximize revenue growth internal development and strategic acquisitions. In fiscal 2006 Titan generated in excess of $109 million in revenues on a consolidated basis and projects fiscal 2008 revenues up to $747 million. Titan’s operating divisions include the following:
Titan’s Telecommunications Division addresses a range of high-growth markets in the telecommunications wireless and mobile segments. Companies include Oblio Telecom. Inc the second largest publicly-owned company focused on the international prepaid telecommunications segment. StartTalk. Inc.. Pinless. Inc.. Titan Wireless Communications. Inc and Ready Mobile.
Titan Global Brands integrates protects and expands brand management capabilities to leverage and optimize growth across Titan’s worldwide distribution channels. We own or manage more than 100 brands that are distributed through efficient overlapping and expansive distribution channels.
Titan Card Services capitalizes on the burgeoning multibillion dollar international prepaid money transfer sector. The Card Services division provides a seamless brand extension for Titan’s growing family of prepaid products currently sold through a nationwide network of more than 71,000 retailers.
Titan’s Electronics and Homeland Security Division includes Titan PCB East. Inc and Titan PCB West. Inc. These companies specialize in the manufacture of advanced circuit boards and other electronic products for classified military and defense department customers and other high-tech clients.
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 — With the exception of historical information the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of TTGL could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company’s operations or expansion inability to hire and retain qualified personnel changes in the general economic climate including rising interest rate and unanticipated events such as terrorist activities. In some cases you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” the negative of such terms or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable such statements should not be regarded as a representation by the Company or any other person that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements whether as a result of new information future events or otherwise. In light of the foregoing readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company review our SEC filings.
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Related article:
http://www.debitcardnews.com/2007/10/30/titan-global-holdings-announces-milestone-agreement-with-cardmarte-and-metabank-to-significantly-increase-revenues-for-card-services-division/
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