GSB Financial Services, Inc. announced the introduction of a private-label “pre-paid cash card” known as the “I-Card.”
The I-Card has been introduced to GSB by Digital World Financial, Inc. as Digital World’s first step in providing GSB with specialty financial services. The I-Card functions much like a prepaid phone card, except that it has the same utility as a charge or debit card, including full ATM capability. The target market for this card is segmented into consumers and merchants.
Targeted consumers would be:
— travelers not wanting to risk their debit cards in foreign/domestic transactions,
— consumers concerned about online shopping charge fraud or the recent security breaches of online retail sites,
— parents wanting to provide their children with a safe and controlled source of funds. Targeted Merchants would be:
— merchants seeking to issue a prepaid cash card (private-label) to consumers so as to lower credit card fraud and chargebacks, which have become rampant in some industries,
— merchants desiring to create increased brand awareness and consumer loyalty through comprehensive customer loyalty and incentive programs,
— merchants desiring to provide their customers with increased privacy and discretion with charges now appearing on their charge statements.
Steve Browning, CEO of GSB said, “I am especially excited about the I-Card product because it will enable many of our customers to increase their revenues without increased cost because of its ability to lower and virtually eliminate credit card fraud and chargebacks. This innovative solution to a very real market need will eliminate a significant roadblock to enhanced sales growth by our customers. The I-Card represents a very significant step forward in our plan to provide quality financial services to our customers, and strengthens our technology stream focused on risk mitigation and loss reduction.”
GSB Financial Services, Inc. develops proprietary technology solutions to exploit opportunities in the Financial Services Industry. Focusing on the continuing technology revolution in the newly developing e-Finance environment, GSB Financial is leading the way in the Financial Services Industry with innovative technologies.
Digital World Financial, Inc. provides 21st century electronic financial transaction software solutions to the forward thinking company and the financial services industry globally. Utilizing a best of breed approach Digital World Financial provides only state of the art software solutions to international banks and e-commerce companies. [www.digitalworldfinancial.com]