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FONU2 Launching Prepaid Card and Gen Y Marketing Initiative(June 13, 2012)
FORT LAUDERDALE, FL -- (Marketwire) -- 06/13/12 -- FONU2 Inc. (OTCQB: FONU) (OTCBB: FONU) today announced integration of a prepaid card system into FONU2.COM. The highly scalable prepaid card program combines extreme social media management coupled with aggressive viral campaigns that will bring on new FONU2 card members.
"System integrated capabilities with our prepaid card application allow FONU2 to customize products and services for different markets, distribution channels and customer segments. FONU2 processing of transactions on the FONU2 platform provides unique and extensive insight into the attitudes, characteristics and buying behavior of under-banked consumers," said Jeffrey Pollitt, Chairman and CEO of FONU2 Inc.
"On FONU2, the mobile fone plays a much greater role in the lives of people in their 30s and under (Gen Y) than any other generation. This group has grown up with computers, the Internet, iPods and cell phones, and most use them on a regular basis. Social networking sites have become very popular among the Gen Y segment, Y members are heavy users of prepaid cards, and eight in ten Gen Y consumers report using a prepaid debit card. Average monthly frequency is 19.5 times per month. Gen Y consumers may represent the beginning of the much touted checkless and cashless society," commented Elena Dragut, Company Administrator and Market Analyst.
The Total Prepaid Market size in 2012 is now forecasted to reach $549.7 billion, according to Mercator Advisory Group's Prepaid Market Forecasts.
The key features of the FONU2 prepaid card is its "Card Community Network" centered around its Jobs - Classifieds platform. Prepaid cards are attracting consumers at both the high and low ends of the market. The cards are useful for under-banked consumers who do not qualify for credit cards or checking accounts, or are establishing a banking relationship for the first time. Under-banked consumers make nearly twice as many monthly payments using prepaid cards as do other consumers, according to Javelin Strategy & Research in a 2011 report.
FONU2 is a consumer financial services company that provides a precision mobile sales and marketing platform that functions like an order reservations and booking system. Based on the FONU2 card, people via their mobile fones and computers list, buy, sell, trade services and items locally in any neighborhood anywhere in the world; and get paid with the FONU2 end-to-end mobile fone payment card system.
This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
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