LA JOLLA, Calif., Nov. 17, 2004 (PRIMEZONE) -- Global Vision Holdings, Inc., (Pink Sheets:GVHL), a developer and worldwide wholesale marketer of a new generation of prepaid financial service products, announced today that it has achieved an agreement with NetNetMarketing, Inc. of Miami, Florida, to mass promote GVHL's "Global First Rewards" program branded for NetNetMarketing as "NetNet Rewards".
NetNetMarketing will promote the program through email campaigns and promotions on thousands of affiliate websites, and to encourage early signup, the company will give its consumer cardholders the NetNet Rewards membership as a FREE holiday gift effective today.
The Global First Rewards program currently has registered more than 4,000 restaurants and chain restaurants, as well as more than 400 merchants. The merchants include department stores, such as Target and Macy's; office supply stores, such as OfficeMax; drug stores, such as Eckerd Drugs; grocery and specialty stores; sporting goods stores; and travel service providers.
For a limited time, membership in NetNet Rewards will be FREE for consumers who join by simply signing up on a Global First Rewards distributor's Web site. Consumer cardholders can register up to five credit or debit cards issued by any bank and receive 5-15 percent rewards (rebates) on purchases from participating merchants. Cardholders also can purchase merchandise certificates from any of the participating merchants or restaurants at up to a 50 percent discount, earning reward dollars at the same time.
NetNetMarketing has launched a rewards web presence at www.NetNetRewards.com, and a corresponding Global Vision website has been created at www.GlobalFirstRewards.com. The content and functionality of these sites will continue to expand, and the companies will promote the sites through pay-per-click, viral marketing campaigns and affiliate programs already in development.
"The NetNet Rewards program should be easy for us to proliferate because membership is free and it earns money for consumers," said NetNetMarketing Vice President Hank Grant. "A rewards member typically spends $400 a month on rewards-earning purchases. Once new customers are converted to our program, commission revenues from those customers will be significant, recurring and long-term."
"In addition to the recurring revenue that our distributors earn, the rewards product is an excellent leader for the distributor to earn money by selling our other products as well," added Jack Chang, CEO and founder of Global Vision. "Every time a rewards member earns a reward or rebate, a congratulatory email is sent to the member with a link to our distributor's website. The site will further explain the benefits of the program, allow members to review their cumulative points, and best of all, create an opportunity to cross-sell our other products. Global First Rewards can drive significant traffic to our distributors."
NetNetMarketing has already begun to mass market GVHL's "GlobalFirst" telephone calling cards as part of an agreement with GVHL last month. NetNetMarketing also will sell GVHL's prepaid bank debit cards and will automatically enroll all bankcard holders into the rewards program to enhance the value of its bank debit cards.
GVHL is in the prepaid/stored-value debit card marketing business. Prepaid debit cards are in great demand by businesses and individuals that do not qualify for bank accounts or credit cards throughout the world. The market for prepaid debit cards is just in its infancy domestically and virtually untapped outside the United States. The GVHL rewards program provides enhanced benefits to prepaid debit/stored value or credit cardholders, as well as a monthly recurring revenue to distributors, since a percentage of the rewards are shared by GVHL and its distributors.
About Global Vision Holdings
Global Vision Holdings, Inc. (Pink Sheets:GVHL) is a developer and wholesale marketer of a new generation of prepaid (also known as "Stored-Value") financial products and services. The company's CEO, Jack Chang, is the co-inventor of the ATM machine and a pioneer in the use of magnetic strips on bankcards, electronic funds transfer systems, and PC-based in-bank systems. The company specializes in worldwide distribution of pre-paid bank debit cards, retail gift cards, telephone calling cards, and healthcare and insurance products, serving a multibillion-dollar global marketplace. Prepaid debit cards are in great demand by businesses and individuals both domestically and worldwide, with the market outside the United States virtually untapped.
GVHL's revenue model strives to create recurring revenue streams from a global customer base through mass distribution marketing channels. Other available and planned products and services for GVHL debit/stored value cardholders and distributors include a cardholder rewards program ("Global Rewards"), low-cost life insurance and discounted healthcare plans. For more information, please visit www.Global-Vision.com.
About NetNetMarketing
NetNetMarketing, Inc. is a provider of web-based marketing programs. The company's clients include financial, banking, insurance, rewards, and long distance telephone companies to mention a few. For more information, please visit www.NetNetMarketing.com.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Global Vision disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.