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EmergingGrowth.com Looks at New Payment Platform, Record Numbers Company

Thursday, 23 May 2013 08:46 AM

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Miami, FL - 3Pea International Inc. (OTCBB: TPNL), the only pure play in the rapidly growing stored value card segment, announced yesterday the launch of its new PaySign® payments processing platform. The company says that the platform will allow 3Pea to appreciably expand its operational resources which will provide entrée into new markets within the payments processing space. The unique PaySign® platform is equipped to handle the EuroPay, MasterCard, and Visa smart card payment system (Chip and PIN) payments on a global basis. The innovative platform meets PCI-DSS 2.0 compliance standards and was part of the company’s most recent successful PCI-DSS audit. The audit certified 3Pea as a Level 1 Service Provider (Issuer), Gateway/Switch, Prepaid Services and Issuer Processing Provider, underscoring 3Pea’s continuing commitment to maintaining the highest level of data security standards and compliance.

On another note, the company recently released record financial results for Q1 2013.

The Numbers 

Revenues for the three months ended March 31, 2013 were $2,111,037, an increase of $626,445 compared to the same period in 2012, when revenues were $1,484,592. The company attributes the increase in revenue to a several factors the first of which was the launch of several new card programs during the latter part of 2012. TPNL also increased processing, program management, development, fulfillment and customer service fees. Net income for the three months ended March 31, 2013 was $226,398; an increase of $150,013 compared to the same period in the prior year, net income was $76,385. Gross profit for the three months ended March 31, 2013 was $519,566, an increase of $256,779. The same period in 2012 the company showed a gross profit of $262,787. Gross profit percentage approximated 25% and 18% during the fiscal years 2013 and 2012.

 

About 3Pea International Inc. 

The company initially made its mark providing payment solutions in the pharmaceutical industry. 3Pea has managed card programs for the likes of Pfizer Inc. (NYSE: PFE), Johnson & Johnson (NYSE: JNJ) and Novo Nordisk (NYSE: NVO); along with many other heavy hitters in the pharmaceutical industry. TPNL has since branched into corporate incentives and has added prepaid reloadable debit cards by partnering with one of the country’s largest blood/plasma donation centers. The centers are now paying their donors with a customized prepaid debit card provided by 3Pea. The company affords a unique card processing platform to its clients made up of proprietary systems and original software applications. Through this platform, 3Pea makes available a host of services including; card creation and fulfillment, transaction processing, value loading, cardholder enrollment, integrated voice response, cardholder account management, reporting, and customer service. Acting as both processor and program manager, the company maintains direct control over end-to-end services, thus reducing the need for third party involvement. 

3Pea boasts an exceedingly strong management team that is actively pursuing growth in multiple, diverse segments of the industry including; payroll cards, general purpose reloadable cards, expense reimbursement cards, and travel cards. This proactive approach will allow for diversified revenue streams and further enhance 3Pea’s expansion within the stored value card vertical.

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