Universal Express, Inc. announced the signing of a letter of intent to acquire a majority interest in ATM Paycard LLC. ATM Paycards’ product offerings may be viewed at their websites: [www.americascard.com] and [www.atmpaycard.com].
“This acquisition advances our recent entry into the exciting stored-value Visa and ATM debit card arena. Complimenting the programs being developed by the Universal Express subsidiary Swiss American Financial Corp., ATM Paycard has established an impressive product line and distribution method for ATM debit cards and stored value Visa(R) cards. USXP CashExpress(R) card and additional products will be offered through numerous conduits as well as being offered through the Private Postal Network with its’ nationwide exposure” said Mr. Richard Altomare, Chairman and CEO of Universal Express.
“There are tremendous opportunities in this sector of the credit card/debit card business. This acquisition broadens our capabilities and infrastructure to support the tremendous growth for this product while incorporating the leadership of the ATM Paycard management team who presently have an exceptional product available. This acquisition will provide a significant impact on the ability of Universal Express to take a leading role in this burgeoning market” stated David Russell, President of USXP Capital.
“ATM Paycard currently has numerous national distribution alliances providing a significant volume of card issuance which would be significantly enhanced by the brand recognition and distribution capabilities of the postal store members of the nationwide Private Postal Network” said Brett Hudson, CEO of ATM Paycards LLC. He continues, “The USXP CashExpress(R) card will be recognized as the preferred method of domestic and international funds transfer, payroll alternative, and debit card/credit card option of consumers nationwide, including those with unacceptable credit. In combination with our current product line (Americas First(R), ATM Paycard(R), etc.), Universal Express should realize significant marketshare in this credit niche.”
The prototype of the USXP CashExpress(R) card may be viewed at [www.usxp.com].
Universal Express, Inc. owns and operates several subsidiaries including Universal Express Capital, Universal Express Logistics (including VirtualBellhop, WorldPost and Luggage Express) and the Private Postal Network. These subsidiaries provide the private postal industry and consumers with value-added services and products, logistical services, equipment leasing and cost-effective delivery of goods worldwide. More information and website locations are available at [www.usxp.com].