Business
Cash Now Corporation (CHNW.PK) Announces The Entry Into The Asian and Chinese Sub Prime Debit Card and System Licensing
Cash Now Corporation (CHNW.PK) Announces The Entry Into The Asian and Chinese Sub Prime Debit Card and System Licensing.
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[{"type":"text","content":"FORT LAUDERDALE, FL, Aug 28, -- Cash Now Corporation (CHNW.PK) www.cashnow.com today announced the intended launch of its ecommerce sub prime lending system licensing into the Asian markets with it's focus particularly set on the China, Taiwan and Hong Kong marketplace. To do so, the company acquired for cash and stock the following domain names, namely; cashnow.hk.cn, cashnow.mo.cn, cashnow.tw.cn, cashnow.org.cn, cashnow.net.cn, and cashnow.com.cn. Initially these domain names will point to the company's main portal www.cashnow.com until the new sites are developed in the Chinese language. The Asian expansion will be managed by the company's office in Adelaide Australia. Cash Now has been in Australia since 2003 and the company has dabbled into Asian expansion for some time now, this is a natural evolution and process for Cash Now said John Falting Cash Now's President and Director of Operations in Adelaide Australia. \r\n \r\nCash Now will now seek governmental licensing in South East Asian countries for Cash Now services as well as opening franchises and licensing it's technology in this region. The potential revenue for 100 licensees in Asia has a potential to generate 10 to 30 million dollars in revenue annually. The company plans to attend and launch Cash Now in Tokyo Japan in March 2007 through a Franchise Show & Business Expo held there. This is the largest meeting place for franchisors/new business companies and people who are looking for business opportunities said Garr Winter Cash Now's Director of Marketing. Until the approvals are obtained, the company plans to offer it's sub prime secured debit cards through it's portal www.cashnowcard.com Mr. Winter added, we are very excited about this opportunity. \r\nIn preparation for the 2008 Beijing Olympics, China UnionPay (CUP), the state-run credit payments company, is building a massive credit card infrastructure. There are currently just 5 million credit cards in the People's Republic and 50 million people who, based upon Western credit scoring analysis, would be eligible for credit cards, Chinese officials say. The Chinese government has recently laid the legal framework for the creation of a National Credit Bureau, which at the beginning will concentrate on collecting negative information on Chinese consumers, but later, like the major U.S. credit reporting agencies E...