Sunday, June 19, 2005

Bill Payment Services & Cellular Services. Merchant Retailer Becomes Banks For The Unbanked.

Merchant Retailer Becomes Banks For The Unbanked.
US socioeconomic trends have caused a significant upswing in the demand for new financial instruments and offerings, focused on the Unbanked. Consider:

31 Million US individuals over age 20 are seen to be as having a "poor credit" rating (Morgan Stanley)

34 Million Americans are living in poverty (US Census 2004)

Over 9 Million US households do not have bank accounts, or 40 Million individuals (FiSCA)

50 Million US adults don't have credit cards (Pelorus Group)

20% of US Households pay bills in person (Prepaid Direct Wireless)

This population visits merchant store retailers just like the rest of America, but retailers are not satisfying their needs today. However, the electronic bill payment services & cellular services can now be leveraged to deliver and process these new services, including but not limited to:

PREPAID WIRELESS: This market has exploded from $4.5 Billion in 2000 to over $23 Billion in 2004 driven by youth, minorities and "unbanked" customers.

PREPAID DEBIT CARDS: Currently a $600 Million market, Pelorus Group expects it to grow to over $5 Billion by 2007. Next Estate reports that 65% of Prepaid Debit users are under 35 years old.

WALK-UP BILL PAYMENT: Prepaid Direct Wireless reports that 20% of American households regularly pay their bills in person

For More Information Go To:
Call Now: 877-947-3577 or 877-WireLSS