SurgePays™ Prepaid Card utilizes state of the art fintech to address the financial needs of the more than 68 million unbanked and underbanked adults in the United States
Offers flexibility including allowing employers to directly load payroll to employee’s cards as well as the ability to “Photo Load” paychecks and other checks
Free Personalized card, no credit check, no activation fee and no monthly maintenance fee
Memphis, TN, Aug. 22, 2019 (GLOBE NEWSWIRE) -- – Surge Holdings, Inc. (“Surge”) (SURG), developer of the SurgePays™ Network for independent retailers, today announced that its wholly owned subsidiary, SurgePays Fintech, Inc., has completed development and successfully launched the SurgePays™ Visa® Prepaid Card (the “Card”).
In addition to the benefits of increased safety, security, and convenience of using the Card anywhere that accepts Visa®, some of the integrated life enhancing benefits for SurgePays Cardholders, include ATM withdrawals, the ability to accept direct loading wages and earnings from employers, loading the card by taking a picture of the front and back of paychecks and other checks (“PHOTO LOAD”), accessing accounts from the Card app on their mobile device; as well as TRANSCARD usage, which allows users to send money to friends and relatives locally and internationally.
In 2012, the FDIC issued a report stating that approximately 68 million adults living in the United States were unbanked or underbanked. The Card is designed to provide these people, and the additional immigrant population, a convenient way to manage their money starting with simple online signup that features no credit check, no activation fee, a free personalized card and no monthly minimum balance or monthly maintenance fees. Customers can sign up for the card now at: www.surgepayscard.com.
The Company’s wholly owned subsidiary, SurgePays Fintech, Inc., is headed by Kenneth Reaves, Ph.D. Dr. Reaves has been a pioneer in the prepaid debit card industry while previously spearheading two of the most successful card launches and rollouts of the last 20 years.
Dr. Reaves, President of SurgePays Fintech, Inc., stated, “The SurgePays™ Visa® Prepaid Card is “THE ONLY CARD THAT YOU WILL NEED IN YOUR WALLET” to obtain and maintain control of your money. The Card delivers our cardholders life enhancing features and services. For the millions of individuals who wait in line to pay high fees to cash their checks, they now have an alternative to seamlessly load their checks onto their SurgePays™ Visa® Prepaid Card. Cardholders can add secondary cards to their account as a way to facilitate transfers to family members in the US and abroad. The fintech solutions delivered through the SurgePays™ Visa® Prepaid Card will provide significant tangible benefits to so many in their daily activities.”
Brian Cox, Chairman and CEO of Surge Holdings, commented, “We believe Dr. Reaves has done a fabulous job utilizing his wisdom and experience to navigate the over one-year planning, development and integration of the Card. His team’s ability to position Surge with a strategic card in a sector that has significant barriers to entry reinforces our overall goal of increasing shareholder value. I am excited about the additional life enhancing benefits currently being integrated as well as the national rollout.”
Anthony Nuzzo, President of Surge Holdings, Inc stated, “Our competitive advantage is our ability to offer this card with a discounted fee structure with the goal to create a larger and more loyal customer base looking to stretch their money further by taking advantage of our other Surge products and rewards programs. We believe the Card will become an important profit center and we look forward to introducing additional differentiated products through our network in order to drive value for our partners and shareholders.”
About Surge Holdings, Inc:
Surge Holdings, Inc. is a retail supply chain company that provides a virtual distribution hub for retailers, as well as offer telecom services for low income customers and financial payment services for the unbanked and under-banked. Surge products are delivered through a nationwide network of convenience stores and corner markets connected to the recently launched SurgePays™ Network. This retail platform is designed to transform the traditional supply chain by providing local retailers seamless access to global products and to empower the corner store to select, order and fulfill delivery of wholesale goods from around the country. This platform also provides manufacturers a cost-effective and efficient platform to access local retailers. For more information on Surge Holdings and its subsidiaries, please visit: https://surgeholdings.com.
Forward Looking Statements
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as “believes”, “expects”, “may”, “will”, “should”, “anticipates”, “plans”, or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
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