Q Comm International Partners with American Cash Exchange, Inc.
Q Comm to Process Poni® PIN Card for Money Remittance to Mexico
Orem, UT – November 17, 2005 – Q Comm International, Inc. (Amex: QMM; QMM.WS), a provider of prepaid transaction processing and electronic point-of-sale (POS) distribution solutions, today announced a partnership with American Cash Exchange, Inc. a personal payment solutions provider and creator of the Poni® PIN Card, a US-to-Mexico money remittance card sold in peso values. Under the terms of the agreement, Q Comm International will process sales of the Poni® PIN Card in relevant geographic areas throughout the United States, beginning in the fourth quarter of 2005.
Poni® PIN Cards enable international remitters living in the United States to purchase and instantly transfer money to Mexico. The recipient uses a Poni® Cash Card to withdraw Peso transfers from over 26,000 ATM machines in Mexico, any day and any time of the week, including holidays. There are no hidden mark-ups or back-end fees charged to the recipient. No bank account is required to transfer the funds and the Poni® PIN Card also includes a free call to Mexico to communicate the secret PIN number found under a scratch-off. Currently one million Poni® Cash Cards are in migrant communities throughout every state in Mexico, and because American Cash Exchange, Inc. is the only non-bank, non-credit card company authorizing withdrawals from the Mexican ATM network, card holders have direct access to the Mexican ATM network to withdraw their money. The Poni® PIN Card is currently sold in Las Vegas, Phoenix, Tucson and Chicago, and will soon be available in California, New Jersey, New York and Texas.
Michael Keough, President and Chief Executive Officer of Q Comm International, states “Today’s announcement reflects our dedicated efforts to diversify our product offering with new, higher margin products. The Poni® Card is a natural fit for Q Comm because this innovative cash-to-card product directly addresses our target demographic.”
“American Cash Exchange is also excited by the formation of this dynamic partnership. Our revolutionary method of international money transfer has greatly improved the sending and receiving environment for remittance customers. Only Poni® Card provides immediate 24/7 availability, both when purchasing and receiving money transfers. We’re excited to bring Poni® Card technology to Q Comm’s wealth of retailers who will benefit from the elegant simplicity of our solution and to their end customers who will benefit from an instant money transfer without beneficiary-side fees or deductions,” states Donald Licciardello, President of American Cash Exchange. The company intends to provide additional international markets to Q Comm’s retailers during the coming year.
ABOUT Q COMM INTERNATIONAL:
Q Comm International is a prepaid transaction processor that electronically distributes prepaid products from service providers to the point of sale. Q Comm offers proprietary prepaid transaction processing platforms, support of various point-of-sale (POS) terminals, product management, merchandising, customer support and engineering. Q Comm systems replace traditional hard cards (also known as scratch cards or vouchers) that are costly to distribute, and provide more comprehensive reporting and inventory management among other benefits. Q Comm’s solutions are currently used by wireless carriers, telecom distributors, and various retailers to sell a wide range of prepaid products and services including prepaid wireless, prepaid phone cards, prepaid dial tone and prepaid debit cards, such as prepaid MasterCard and Visa. Visit www.qcomm.com for more information.
ABOUT AMERICAN CASH EXCHANGE:
American Cash Exchange is a privately-held company founded in August 2002 and located in Pennington, New Jersey, offering personal payment solutions for the international marketplace. The founding partners previously presented the first consumer bill on the Internet.
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The economic, competitive, governmental, technological and other factors identified in the Company's filings with the Securities and Exchange Commission, including the Form 10-KSB/A for the year ended December 31, 2004, may cause actual results or events to differ materially from those described in the forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
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