The Prepaid Press - FONU2 Launching Prepaid Initiative

05/25/2013

FONU2 Launching Prepaid Initiative

Integrates Card System with Social Media

FORT LAUDERDALE, FL (June 13, 2012) FONU2 Inc. (OTCQB:FONU), a consumer financial services company that provides a mobile sales and marketing platform that functions like an order reservations and booking system, is integrating a prepaid card system into FONU2.COM. The company says the highly scalable prepaid card program combines social media management coupled with viral campaigns that will bring on new FONU2 card members.

"System integrated capabilities with our prepaid card application allow FONU2 to customize products and services for different markets, distribution channels and customer segments. FONU2 processing of transactions on the FONU2 platform provides unique and extensive insight into the attitudes, characteristics and buying behavior of under-banked consumers," said Jeffrey Pollitt, chairman and CEO of FONU2 Inc.

"On FONU2, the mobile fone plays a much greater role in the lives of people in their 30s and under (Gen Y) than any other generation," commented Elena Dragut, company administrator and market analyst. "This group has grown up with computers, the Internet, iPods and cell phones, and most use them on a regular basis. Social networking sites have become very popular among the Gen Y segment, Y members are heavy users of prepaid cards, and eight in ten Gen Y consumers report using a prepaid debit card. Average monthly frequency is 19.5 times per month. Gen Y consumers may represent the beginning of the much touted checkless and cashless society."

The Total Prepaid Market size in 2012 is now forecasted to reach $549.7 billion, according to Mercator Advisory Group's Prepaid Market Forecasts.

The key features of the FONU2 prepaid card is its "Card Community Network" centered around its Jobs - Classifieds platform. Prepaid cards are attracting consumers at both the high and low ends of the market. The cards are useful for underbanked consumers who do not qualify for credit cards or checking accounts, or are establishing a banking relationship for the first time. Underbanked consumers make nearly twice as many monthly payments using prepaid cards as do other consumers, according to Javelin Strategy & Research in a 2011 report.

Source: FONU2