Las Vegas, NV / ACCESSWIRE / June 17, 2014 / Dakshidin Corporation (Pink Sheets: DKSC) is pleased to announce it has concluded its first strategic asset purchase; a state of the art proprietary electronic payment platform from The Tyburn Group Inc. based in Northern California.
This fully certified prepaid and debit payment platform will allow Dakshidin Inc. to offer an end-to-end solution supporting all aspects of card issuing services needed by Dakshidin Inc.’s clients.
Key features include:
- Automated Application Processing
- Customer Relationship Management
- Product and Service Management
- Card Management
- Statistics and MIS Reporting
The product is ideal for that segment of the population who do not qualify for, or have no desire for a traditional bank account (unbanked/underbanked). The estimated size of the market in the US is enormous and currently between forty and fifty million people and expanding.
The platform also provides a potential solution to the problem that is facing the legal medical marijuana industry, allowing customers to pay for their prescriptions using a closed loop card issued and managed by Dakshidin. This would alleviate the current situation whereby dispensary owners, due to their inability to accept credit cards, are forced into keeping large amounts of cash on their premises.
Dakshidin will continue to work towards the final stage of an ongoing negotiation process initiated by the Tyburn Group earlier in the year with three US banks. Dakshidin expects to select one of these banks in the next month or 2. The selected bank will become the underlying issuer for all Dakshidin Debit Card products. These financial products are aimed to be a key part of Dakshidin’s growth strategy.
The Dakshidin Debit Card will be marketed to vertical markets such as ethnic and immigrant communities who traditionally make up a large percentage of the un/underbanked population in the US.
"We are very pleased to announce the completion of this first milestone in our effort to move the company forward" said CEO J. Mark Seaton. "This platform will act as a solid foundation for the anticipated growth of Dakshidin’s forthcoming financial product lines. Furthermore, we have identified promising synergies between this acquisition and our previous efforts to enter into humanitarian projects."
Over the past months the company has been diligently working on a number of exciting acquisitions, this is just the first to be completed. The company fully expects that additional acquisitions will follow in quick succession and much more easily. Dakshidin feels it has laid the foundation for future expansion giving the company the best opportunity for substantial, sustainable growth and to increase shareholder value. This is truly a very exciting time for the company.
Forward-Looking Statements: The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
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Source: Dakshidin Corporation
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