MIAMI, January 20, 2016 /PRNewswire/ --
Next Group Holdings, Inc. (OTCQB: PLKD) announced today that it plans to aggressively extend its market reach and subscriber base in the mobile banking and mobile payments industries throughout the remainder of 2016, primarily through its subsidiary Next CALA, Inc. ("Next CALA"). PLKD owns 94% of the issued and outstanding shares of Next CALA, which is one of PLKD's four operating subsidiaries.
Next CALA promotes and distributes NextCALA-branded Prepaid Visa® General Purpose Reloadable ("GPR") prepaid cards, bearing the Next CALA Debit™ and Visa® logos. Next CALA Prepaid Card® GPR cards are provided under licensing and operating agreements with prepaid industry-leaders IHFL and ITCFL, which are affiliated corporations and each of which is indirectly a wholly-owned subsidiary of InComm Holdings, Inc. and The Bancorp Bank pursuant to a license from Visa USA, Inc. The Bancorp Bank is a member of the FDIC. The Next CALA Prepaid Visa® GPR cards are distributed and serviced for Next CALA by ITC Financial Licenses, Inc.
Customers can load between $20 and $500 per load into their Next CALA Prepaid Visa® GPR cards anywhere in the Vanilla Reload Network Nationwide, which includes more than 50,000 retail locations in the United States, including most Walmart, Walgreens, CVS, Dollar General, and 7-Eleven stores. Customers can also load cash value into their Next CALA Prepaid Visa® cards via automated bank-to-bank direct deposit. Next CALA Prepaid Visa® cards are accepted wherever Visa Debit® cards are accepted, and can be used for transactions including ATM withdrawals and other ATM functions, remittances, bill payments, mobile-banking, virtual digital wallet functions, and purchasing at retail locations, online, and over the phone, as well as ACH Direct Deposit. The maximum load amount permitted per registered Next CALA Prepaid Visa® card is $10,000. Each Next CALA Prepaid Visa® GPR card comes with a routing number and unique account number, is FDIC insured, and can be used anywhere the Visa® logo is accepted.
PLKD's management believes that the prepaid card market is expanding rapidly and will reach approximately $421 billion in the United States and approximately $822 billion worldwide by 2017. The growing popularity of prepaid card solutions for both banked and unbanked consumers is driven by the prepaid card's unique ability to solve almost any payment need, and by the fact that prepaid cards such as ours democratize electronic payments and remittances for those outside the traditional banking system.
"We believe Next CALA is ideally positioned to become one the main players in the future of mobile banking and mobile payments," said PLKD's Chairman and CEO, Arik Maimon. "Mobile banking, and the growing array of new methods of using mobile phones to make payments for goods and services will change the world and improve people's lives," Mr. Maimon continued. "I invite each of our shareholders to begin to Live Your Mobile Lifestyle™ by visiting nextcala.com to enroll for a Next CALA Prepaid Visa card, which you will receive by mail."
PLKD's President and COO, Michael A. De Prado, said, "The benefits we offer our customers through our Next CALA Rewards program include allowing Next CALA subscribers to earn points for use in remittance transactions, or to be credited into reloadable international and domestic long distance calling cards for voice or HD video calls to loved ones or others.
"Within months," Mr. De Prado continued, "as our sister company NxtGn, Inc. begins to roll out several exciting new products and services, the Next CALA Rewards program will also offer Next CALA subscribers the ability to use NxtGn's proprietary HD Personal Telepresence products to participate in health care consultations, distance learning, and exclusive live entertainment events. I am proud that Next CALA Rewards will soon allow our subscribers to use HD telepresence services that until recently were within reach only of Fortune 500 companies and very high net worth individuals. I believe these synergies will give our Next CALA Prepaid Visa cards a sustainable competitive advantage in the market place. Next CALA subscribers will soon be invited to speak with me and other members of our management team, to experience the benefits of the HD Personal Telepresence experience."
NxtGn, Inc. ("NxtGn") is one of the four operating subsidiaries of PLKD. PLKD owns 65% of the issued and outstanding shares of NxtGn. NxtGn's web address is nxtgn.net.
On January 15, 2016, PLKD filed a Form 8-K report in which, among other things, it reported the election of Messrs. Maimon and De Prado as PLKD's Chairman and CEO, and its President and COO, respectively, as well as the election of Isaac Bunick to serve as Executive Vice President of Next CALA.
About Us: PLKD is a corporation headquartered in Miami, Florida, which, through its operating subsidiaries, engages in the business of using proprietary technology and certain licensed technology to provide innovative mobile banking, mobility, and telecommunications solutions to underserved, unbanked, and emerging markets. PLKD's principal executive offices are located at 1111 Brickell Avenue, Suite 2200, Miami, Florida 33131, and its telephone number at that location is (800) 611-3622. PLKD's web address is nextgroupholdings.com.
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NEXT Group Holdings, Inc.
SOURCE NEXT Group Holdings, Inc.