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AGM Enterprise Signs a Partnership Agreement with VivaMall for Development of Prepaid Debit Card Products.
Los Angeles, California, February 18, 2008 – AGM Enterprise, Inc., a Los Angeles based developer of prepaid debit card systems, including gift cards and remittance cards, announced today that it has signed a partnership agreement with VivaMall Group, a leading shopping mall presence in Korea, to develop Prepaid Debit Card products for VivaMall's regional network of customers.
| Prepaid debit cards have become an increasingly important segment of the gift card and prepaid, reloadable debit card market. The trends show they will continue to be the preferred payment method for consumers, in the global market place.
AGM Enterprise has established a unique position in the prepaid industry by offering the millions of consumers, from teenagers to all people who are denied access to debit or credit cards, an instantly issued embossed MasterCard® gift card, or a reloadable prepaid debit MasterCard®, allowing them to make purchases in stores or on the internet. |
Picture taken at contract signing in Seoul, Korea (From Left to Right) Sam Legesse, President and CEO – AGM Enterprise, David Jeong, Chairman – VivaMall Group, Cesar Suarez, Vice President, AGM Enterprise |
"We feel very fortunate to have VivaMall as a partner," states Sam Legesse, President and CEO of AGM Enterprise. “VivaMall's strong presence in the Asian market space is an excellent complement to our business model."
"These customized prepaid debit cards can be used wherever MasterCard® Debit Cards are accepted. Our prepaid debit card applications include gift cards, incentive cards, payroll cards, cash cards and prepaid expense cards. With our extensive product line and VivaMall's large distribution channel, we believe this will be a successful relationship, producing significant revenue growth for all parties.”
"The debit card program from AGM Enterprise is a unique offering for VivaMall Customers," said David Jeong, Chairman – VivaMall Group. "With the ever growing demand for such type of products and services in Asia, the timing of this project is quite advantageous."
Chairman Jeong is active in promoting goodwill to his fellowmen. He plans to set aside funds from this venture for humanitarian purposes.
The VivaMall MasterCard® will be available in a single or dual pack. The two-card program allows VivaMall Prepaid MasterCard® cardholders residing in Asia to send a secondary card to their friends or family abroad. Once money is loaded onto a VivaMall card, money can be transferred from card to card anywhere on the card network instantly. AGM Enterprise will design a system for delivery of the VivaMall MasterCard®.
Background
AGM Enterprise, Inc. (AGME – www.agmenterprise.com) is a global provider of Information Technology, Financial Platform and Telecommunications Services. Our mission is to utilize technology and provide integrated services in the software development, financial and telecommunications sector. As technology experts our services extends to the custom development and support of mission–critical business systems.
VivaMall (www.vivamall.net), is an online shopping mall providing multiple product lines which include cultural and entertainment venues. They sell directly to consumers and to businesses. The company’s headquarters is in Seoul, Korea.
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