Business
Pennexx Has Completed All Necessary Approvals and Agreements to Release its Mastercard™ Your Social Offers Prepaid Debit Card
Pennexx Has Completed All Necessary Approvals and Agreements to Release its Mastercard™ Your Social Offers Prepaid Debit Card.
About this update from Pennexx Foods, Inc.
[{"type":"text","content":"\n Philadelphia, PA, Jan. 04, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Pennexx (PNNX) received the final signed document from Vineet Katial, CEO of Vista Money, LLC, and confirmation that all legal requirements and approvals were complete for Pennexx to complete the launch of the Your Social Offers Mastercard™ prepaid debit card. Pennexx is currently completing the integration between its https://YourSocialOffers.com dashboard and Vista Money’s server so that they can begin sending out these debit cards. These prepaid debit cards represent an exciting time for Pennexx as income generated by influencers could be directly deposited on the prepaid debit card, making it possible for influencers to monetize their influence. Rewards can also be deposited on the card so that offers can contain a cash component. Pennexx generates revenue through the activity of uses of the card. The cards also give consumers another method of payment.  CNBC in an article states that prepaid credit cards have an appeal to consumers that do have a credit card. https://www.cnbc.com/2014/02/07/why-prepaid-debit-cards-are-appealing-to-so-many.html It states, “Pew surveyed adults who use prepaid cards at least once a month and found that 59 percent currently have a checking account and 45 percent had used a credit card in the past year.” Infosys.com put out a white paper, https://www.infosys.com/industries/cards-and-payments/resources/Documents/prepaid-card-industry.pdf. In that white paper they say, “The prepaid segment is expected to grow exponentially by 2022, with the US market touching US$3.1 trillion. In order to have a share in the pie, prepaid providers should continue evolving and innovating not only from a technological standpoint, but also from a consumer standpoint and redefine the way the prepaid product is perceived by the public.” Vincent Risalvato, CEO of Pennexx, says, “We believe that we can create an innovative offering for our Your Social Offer’s members. A rewards card that is a leader in the industry. This coupled with Your Social Offers influencers could create a viral opportunity for the company to grow.” For More Information Pennexx will do their best to openly and...