OASIS ONLINE TECHNOLOGIES CORP
OASIS ONLINE TECHNOLOGIES CORP ("OOLN-L")
- Agreement with SVC Cards Inc. to Market and Distribute
- Branded Prepaid Debit Cards, Mobile Payments, EFT and ACH
- Payment Solutions
Oasis Online Technologies Corp. announced that it has entered into a
3-year revenue sharing agreement with SVC Cards Inc., a wholly-owned
subsidiary of COA Holdings, Inc., to market and distribute a suite of
payment products and services including major branded prepaid debit cards,
a mobile phone payment application, Electronic FundsTransfer services, and
ACH payments.
Under the terms of the Revenue Share Agreement, Oasis will receive a
substantial portion of the net revenue generated from the sale of SVC's
products and can create its own co-branded products with SVC Cards. SVC's
products are unique because of their proprietary management software which
allows card holders to set their own controls on purchases including where
the user can shop, set their own daily and monthly limits, and provide
real-time reporting via SMS text-messaging or e-mails sent back to the
cardmember.
Erik J. Cooper, CEO of Oasis, stated, "This agreement is the first step
in executing our business plan to secure technologies and products that can
be sold across our different planned subsidiaries. With the very favorable
revenue terms it was more cost effective to enter into this agreement than
internally develop our own technology for payment services. This agreement
allows us to begin working on acquiring customers and revenue, as we
continue to look for additional key technologies."
Glenn Geller, CEO of SVC Cards, said, "We are excited to join forces
with Oasis in helping them to realize their goals using our proprietary
technology in the financial sector. Their business adds new and exciting
product opportunities to our existing network, while allowing them to
leverage their relationships for the joint development of new products.
Most importantly, it's exciting to work with such a driven and focused team
like Oasis."
Oasis intends to focus on finding additional core technologies that can
be used and marketed alongside our planned suite of products so that we may
develop our own unique brands within the payment and online markets.
ABOUT OASIS:
Oasis Online Technologies Corp. is focused on the acquisition and
development of key core technologies and products that are easily adaptable
for multiple market segments which require secure storage and convenient
mobile, portable, and/or online use of data. The Company's planned products
and features will be designed and marketed to protect against or prevent
fraud and identity theft while making the online experience easier and
faster. The company is currently researching technologies which apply to
credit card transactions, online shopping, smart-chip enabled card
applications, and ACH and EFT transactions.
ABOUT SVC CARDS:
SVC Cards Inc. is a leading consumer-centric electronic transaction and
card processing company. They perform the issuing and processing tasks of
bank-centric processors, while offering a complete suite of customer
support services. They partner with banks, card associations and networks
to issue debit cards as solutions for a variety of financial needs. They
are a technology driven company which stands out from its competitors by
designing, developing, operating, and owning its infrastructure. SVC has
built advanced processing and customer support platforms that can handle
extremely high order volumes. These platforms are scalable to easily grow
to handle any future growth without rebuilding the core systems.
Forward Looking Statements Disclaimer:
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, including those regarding Oasis Online
Technologies' expectations, intentions, strategies and beliefs pertaining
to future events or future financial performance. All statements contained
herein are based upon information available to Oasis Online Technologies,
Inc. management as of the date hereof, and actual results may vary based
upon future events, both within and without Oasis management's control. In
some cases, you can identify forward-looking statements by terminology such
as "may," "will," "should," "expect," "plan," "anticipate," "believe,"
"estimate," "predict," "potential" or "continue," the negative of such
terms, or other comparable terminology. These statements are only
predictions. Actual events or results may differ materially from those in
the forward-looking statements as a result of various important factors,
including those described in the Company's most recent filings with the
SEC. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, such statements should not be
regarded as a representation by the Company, or any other person, that such
forward-looking statements will be achieved. The business and operations of
the Company are subject to substantial risks which increase the uncertainty
inherent in forward-looking statements. We undertake no duty to update any
of the forward-looking statements, whether as a result of new information,
future events or otherwise. In light of the foregoing, readers are
cautioned not to place undue reliance on such forward-looking statements.
E-mail:
investorrelations@oasisotc.com
Oasis Online Technologies
Erik J. Cooper
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