3PEA International, Inc. (OTCBB:TPNL),
a leader in payment processing and the creation and implementation of
innovative prepaid card programs for corporate, consumer and public
sector applications, today announced the launch of its PaySign® brand of
prepaid debit cards.
The PaySign brand of prepaid debit cards is more than just a brand; it
is a reflection of 3PEA’s commitment to providing innovative, cost
effective, customizable payment solutions to a variety of industries,
for a variety of purposes. With rapid time to market, PaySign solves the
payment problems that businesses, governments and consumers encounter
every day. Utilizing the robust PaySign Platform, 3PEA is able to
quickly design and implement comprehensive prepaid debit card payment
solutions to suit the unique requirements of our customers. With
PaySign, corporations and public sector organizations no longer need to
accept the “take it or leave it” payment solutions that are so common in
prepaid.
3PEA’s expertise is the result of years of developing, managing and
processing highly innovative prepaid debit card solutions for diverse
corporate incentives, pharmaceutical co-pay assistance, plasma donor
payments, survey rewards and clinical trials. Our solutions have been
utilized by organizations such as Facebook, Novartis, Pfizer, Johnson &
Johnson, Duke University, Shire, GlaxoSmithKline, Alcon, Novo Nordisk,
Rutgers University, Allergan, Genzyme, and UCB, among others. As the
Company broadens its product offerings to new markets under the PaySign
brand, the experience and knowledge it has accumulated will be
invaluable.
The prepaid card market has a compound annual growth rate of 21% and is
expected to reach a value of $411 billion in the US in 2016. The PaySign
brand is being positioned to enter new market segments and capture
additional market share in the markets where the company has an existing
presence.
Included in the launch are several PaySign solutions for both general
and industry-specific applications including but not limited to:
-
Corporate Incentives: In a market that is expected to grow to $26.5
billion by 2016, PaySign® corporate incentive cards are the perfect
vehicle for corporations looking to engage and motivate their
customers, employees, and trade partners. PaySign cards are perfect
for customer rebates, employee bonuses and trade partner commissions.
Examples of corporate incentive cards include prepaid cards used as
incentives to purchase big ticket items such as automobiles,
smartphones and major appliances.
-
Payroll: PaySign payroll cards reduce administration costs and
streamline operations for companies looking to provide an efficient
payment method for unbanked employees. The overall market for prepaid
debit cards for payroll is expected to reach $66.4 billion by 2016.
-
Public Sector: Federal and local governments, educational
institutions, and other public sector organizations are constantly
looking to improve efficiency and reduce costs. The PaySign card for
the public sector provides an effective way to reduce costs and
inefficiencies, whether related to disbursements of public benefits or
internal payments. The total prepaid card market for government
payments is projected to reach $119.4 billion by 2016.
-
Pharmaceutical Co-Pay Assistance: 3PEA’s Allegiance Rx card is now
available under the PaySign brand. Our co-pay assistance cards have
been utilized by major pharmaceutical companies for brands such as
Viagra®, Vyvance® and Restasis® to name a few.
-
Source Plasma Donors: Plasma collection companies nationwide can turn
to the PaySign brand of cards for a customized payment solution for
plasma donors. The PaySign solution offers either a customized Plasma
Web portal solution or direct integration into donor management
software.
The PaySign® solutions provide a cardholder Web portal, Interactive
Voice Response (IVR) system, SMS alerts and a two-way SMS messaging
feature that allows cardholders to set alerts and check their balances
and history without the assistance of a live customer service operator.
Our in-house customer service center provides the highest quality
bilingual customer service experience for our clients and cardholders.
“We are excited to launch the PaySign brand as 3PEA continues to gain
market share in our existing verticals and enters new markets. Bringing
our current and future offerings under the PaySign brand is one of the
first steps in marketing our payment solutions to a much wider
audience,” explained Mark Newcomer, chairman and CEO of 3PEA
International. “We have identified and targeted numerous opportunities
within several large market verticals, and have begun to implement the
PaySign solution for new customers within these verticals.”
About 3PEA International
3PEA International (OTCBB: TPNL) is an experienced and trusted prepaid
debit card payment solutions provider as well as an integrated payment
processor that has millions of prepaid debit cards in its portfolio.
Through its PaySign brand, 3PEA designs and develops payment solutions,
prepaid card programs, and customized payment services. 3PEA manages
programs for many of the world’s largest pharmaceutical manufacturers
with copay assistance products designed to maximize new patient
acquisition, retention and adherence. 3PEA’s corporate incentive prepaid
cards are changing the way corporations reward, motivate and engage
their current and potential customers, employees and agents. 3PEA’s
customizable prepaid solutions offer significant cost savings while
improving brand recognition and customer loyalty. 3PEA’s customers
include healthcare companies, major pharmaceutical companies and source
plasma providers, large multinationals, prestigious universities and
social media companies. PaySign® is a registered trademark of 3PEA
Technologies, Inc. in the United States and other countries. For more
information visit www.3pea.com.
Forward-Looking Statements:
Certain statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the Securities Act of
1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are
subject to the safe harbor created by those rules. All statements, other
than statements of fact, included in this release, including, without
limitation, statements regarding potential future plans and objectives
of the companies, are forward-looking statements that involve risks and
uncertainties. There can be no assurance that such statements will prove
to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Technical
complications that may arise could prevent the prompt implementation of
any strategically significant plan(s) outlined above. 3PEA
International, Inc., undertakes no obligation to publicly update or
revise any statements in this release, whether as a result of new
information, future events, or otherwise.
Copyright Business Wire 2014