Wholly owned subsidiary, Ingedigit International I
Post# of 5115
Posted On: 10/25/2013 4:32:29 PM
Wholly owned subsidiary, Ingedigit International Inc., has agreed with American First Equity LLC ("AFE") to offer EmpaSysTM services to existing AFE merchant locations across the United States. In addition, AFE will market EmpaSysTM to independent retail locations that use its affiliated merchant processing services.
Under the agreement, Flint will share in the customer transaction fees generated from these locations. American First Equity LLC is a private investment company that, among other activities, owns and operates gas stations with convenience stores. It is a partner in MerchantOne, one of the largest and fastest growing merchant processors in the United States. MerchantOne currently serves over 90,000 retailers, processing their credit and debit card transactions for all major card brands and networks. MerchantOne will immediately begin offering EmpaSysTM to its qualified retail customers.
AFE has successfully completed its first EmpaSysTM installation at one of its South Florida gas station convenience store locations. Training, testing and compliance have been completed at the location and the sale of EmpaSysTM products and services has commenced. During the next month, AFE plans to use this location to train its personnel for installation of EmpaSysTM at other South Florida locations and also to train its sales agents to market EmpaSysTM to independent retailers. As retailers are recruited, EmpaSysTM connects each location to the network and completes the required training and technical support without any direct cost to AFE, MerchantOne or the retailers. Thereafter, the parties share the transaction fees generated from customer transactions.
Oren Manelis, CEO of American First Equity LLC , stated, "We have been searching for quite some time for exactly this type of all-in-one product to add at our retail locations and to offer to retailers that are serviced through MerchantOne. The way we see it, EmpaSysTM services are very competitively priced with excellent profit margins and our portion of the net fee income is pure profit to us. In many of the markets we serve, there are significant populations that require these services every month that currently have to go elsewhere to get them at higher costs and less convenience. Now instead of these customers having to go to one location to pay their utility bills, then another to remit money, another to load a debit card and yet another to buy mobile airtime, they can now come to us, buy gas, their groceries, load debit cards, pay bills, remit money or buy airtime all in one convenient location. It is definitely the way to go to retain existing customers and attract new ones. We are very excited to be working with Flint in this innovative new offering to our clients and customers alike."
Oren Manelis further stated, "With MerchantOne, EmpaSysTM adds a significant new service not traditionally offered by merchant processors giving us a broader product appeal and giving our customers new sources of revenue and profit with no cost or investment and without having to deal with a third party. We have a large marketing force and will get the word out quickly. In our current customer base we believe we have up to 6,000 retailer customers who are suitable merchants for selling EmpaSysTM services immediately. We will, of course, be offering EmpaSysTM to our entire customer base and to new customers right away. At MerchantOne we have many high transaction volume customers and we currently process over 400,000 transactions per day. We therefore expect thousands of daily transactions at approved EmpaSysTM locations as the service is rolled out."
http://www.flinttelecomgroup.com/index.php?pa...ease_id=62
Under the agreement, Flint will share in the customer transaction fees generated from these locations. American First Equity LLC is a private investment company that, among other activities, owns and operates gas stations with convenience stores. It is a partner in MerchantOne, one of the largest and fastest growing merchant processors in the United States. MerchantOne currently serves over 90,000 retailers, processing their credit and debit card transactions for all major card brands and networks. MerchantOne will immediately begin offering EmpaSysTM to its qualified retail customers.
AFE has successfully completed its first EmpaSysTM installation at one of its South Florida gas station convenience store locations. Training, testing and compliance have been completed at the location and the sale of EmpaSysTM products and services has commenced. During the next month, AFE plans to use this location to train its personnel for installation of EmpaSysTM at other South Florida locations and also to train its sales agents to market EmpaSysTM to independent retailers. As retailers are recruited, EmpaSysTM connects each location to the network and completes the required training and technical support without any direct cost to AFE, MerchantOne or the retailers. Thereafter, the parties share the transaction fees generated from customer transactions.
Oren Manelis, CEO of American First Equity LLC , stated, "We have been searching for quite some time for exactly this type of all-in-one product to add at our retail locations and to offer to retailers that are serviced through MerchantOne. The way we see it, EmpaSysTM services are very competitively priced with excellent profit margins and our portion of the net fee income is pure profit to us. In many of the markets we serve, there are significant populations that require these services every month that currently have to go elsewhere to get them at higher costs and less convenience. Now instead of these customers having to go to one location to pay their utility bills, then another to remit money, another to load a debit card and yet another to buy mobile airtime, they can now come to us, buy gas, their groceries, load debit cards, pay bills, remit money or buy airtime all in one convenient location. It is definitely the way to go to retain existing customers and attract new ones. We are very excited to be working with Flint in this innovative new offering to our clients and customers alike."
Oren Manelis further stated, "With MerchantOne, EmpaSysTM adds a significant new service not traditionally offered by merchant processors giving us a broader product appeal and giving our customers new sources of revenue and profit with no cost or investment and without having to deal with a third party. We have a large marketing force and will get the word out quickly. In our current customer base we believe we have up to 6,000 retailer customers who are suitable merchants for selling EmpaSysTM services immediately. We will, of course, be offering EmpaSysTM to our entire customer base and to new customers right away. At MerchantOne we have many high transaction volume customers and we currently process over 400,000 transactions per day. We therefore expect thousands of daily transactions at approved EmpaSysTM locations as the service is rolled out."
http://www.flinttelecomgroup.com/index.php?pa...ease_id=62
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