PR Newswire
NEW YORK, March 8, 2021 /PRNewswire/ — iQSTEL, Inc. (USOTC: IQST), an international provider of Telecom, Technology, Fintech and Blockchain solutions, today announced its new Visa Debit Card service is scheduled to launch by the end of Q2 2021 in June.
iQSTEL recently announced entering into an agreement with Payment Virtual Mobile Solutions, LLC (PayVMS) to build a Visa Prepaid Debit Card Service (PDCS). The Visa PDCS is expected to generate estimated revenue over five years of $45 million to $128 million with an approximate EBITDA margin of 30% to 40%.
The new Visa PDCS will be constructed under a new subsidiary corporation named Global Money One, Inc. (www.globalmoneyone.com). iQSTEL will own 75% of Global Money One, Inc. with PayVMS owning the other 25%.
PDCS is expected to enable customers to make purchases in stores and online, withdraw cash at ATMs or receive cash back when using it to make a purchase, recharge prepaid mobile phone service (domestic and international), and send money domestically or internationally. PDCS is expected to also facilitate the deposit of funds into bank accounts, rewards and digital gift cards. In addition, PDCS customers are expected to be able to execute bill payments and
About iQSTEL Inc.:
iQSTEL Inc (OTC: IQST) (www.iQSTEL.com) is a US-based publicly-listed company offering leading-edge Telecommunication, Technology and Fintech Services for Global Markets, with presence in 13 countries. The company provides services to the Telecommunications, Electric Vehicle (EV), Liquid Fuel Distribution, Chemical and Financial Services Industries. iQSTEL has 4 Business Divisions: Telecom, Technology, Fintech and Blockchain, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, Global Money One and itsBchain. The Company has an extensive portfolio of products and services for its clients: SMS, VoIP, 4G & 5G international infrastructure connectivity, Cloud-PBX, OmniChannel Marketing, IoT Smart Electric Vehicle Platform, iQ Batteries for Electric Vehicles, IoT Smart Gas Platform, IoT Smart Tank Platform, Visa Debit Card, Money Remittance, Mobile Number Portability Application MNPA (Blockchain Platform) and Settlement & Payments Marketplace (Blockchain Platform).
Safe Harbor Statement: Statements in this news release may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
iQSTEL Inc.
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SOURCE iQSTEL, Inc.
