Customized Mobile Wallet with Debit VISA & MasterCard loyalty program poised to capture share of $57 Billion US Market
TORONTO, CANADA and LOS ANGELES, CALIFORNIA and NEW YORK, NEW YORK--(Marketwire - June 11, 2012) -Intertainment Media Inc. (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) ("Intertainment" or the "Company") is pleased to announce that it has developed, together with leading financial services industry partners, a customized social media financial services program for celebrities and socially active specialty brands. Code named "sweet card", the platform is customized for celebrities allowing them to engage with fans through a unique socially powered global fan loyalty and appreciation program. This program will utilize a unique mobile wallet payment application and customized debit VISA or MasterCard allowing users to earn exclusive rewards through virtual payments, online purchases, money transfers and conventional in-store transactions.
According to Aite Group and Mercator Advisory Group, there are over 5.1 Billion smartphones in the marketplace creating unique opportunities for consumers to install mobile wallet technology and take advantage of emerging near field communication opportunities. This type of convenience will allow users to purchase a variety of goods and services directly through their smartphones with an expected consumer spend by 2015 of $214 Billion in the U.S. and over $1 Trillion globally. Additionally, the groups confirm that prepaid debit card issuance programs have grown from $1.6 Billion in 2004 to an estimated $120 Billion in 2012, with prepaid loads reaching $57 Billion in the US in 2011.
Managed by Intertainment and its subsidiary, Ortsbo Inc.'s Los Angeles team, the program has been reviewed by a number of leading talent agencies, artist management groups and merchandise partners. The Company now has significant interest to begin market testing with key celebrities and specialty brands in North America with a view towards rapid global expansion opportunities. The program is expected to generate ongoing loyalty and transactional fees of which Intertainment and its divisions will be entitled to up to 50% of net generated revenues.
The program offers celebrities and specialty brands a unique way to engage with fans and create a continuity based business platform. Through a customized mobile wallet application and vanity debit VISA or MasterCard, purchases will generate points towards redeemable opportunities and special offers. Consumers that opt into the loyalty program will have the ability to receive exclusive social media access, live programing, merchandise and other unique program features.
Ortsbo will enable global engagement through its 53 languages real time communications services platform, allowing fans to chat and engage with celebrities through exclusive Live & Global events.
The program will be marketed by Intertainment using its social media brands including Ortsbo and KNCTR along with its social media investment partners and key online sites together with celebrity partner programs and live venues.
For more information, please visit www.thesweetcard.com for a short presentation. Interested parties should contact Intertainment Media for more information.
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