Bank Freedom Prepaid Debit Card Company’s Knowledge of America’s Underbanked and Unbanked Key To Acquisition By Berman Holdings, Inc.
Berman Holdings, Inc. (Pink Sheets:BRMN) today announced it has Received the votes necessary from its shareholders to acquire 100% of Prepaid Debit Card Program Manager Bank Freedom. Bank Freedom is the DBA for Merchant Processing International. Shareholder approval for the Bank Freedom acquisition is one of several remaining perquisites to the Bank Freedom acquisition completion.
Bruce Berman, President of Berman Holdings, Inc. and Bank Freedom stated, “We are entering the prepaid debit card industry; this industry is geared to helping America’s underbanked and unbanked consumers acquire financial banking tools to live a better quality of life. Bank Freedom will offer through its website www.BankFreedom.com the BankFreedom Prepaid Debit Cards with 100% guaranteed approval for anyone of America’s underbanked or unbanked consumers as long as they have a valid ID. By acquiring the BankFreedom Prepaid Debit Card brand we will be able to expand our business plan.”
Specific terms of the potential Bank Freedom acquisition were not disclosed; however, Berman Holdings Inc. has previously disclosed that shareholder approval was a condition precedent to the acquisition closing.
The Bank Freedom Prepaid Debit Cards act as a virtual bank account, card account and payment solution for those people who do not use banks or credit cards. For the underbanked and the unbanked the evolution taking place with pre paid debit cards can replace their reliance on check cashing centers, purchasing money orders, and the inability to buy certain products that require a major credit card.
About Berman Holdings, Inc.
Berman Holdings, Inc. is a publicly traded holding company whose current holdings consist of a 100% interest in the Berman Marketing Group, Inc. Berman Marketing Group, Inc. is a multi channel direct market firm specializing in direct response marketing through Television, Radio, Internet and Print media.
About Bank Freedom
Bank Freedom has recently entered the prepaid debit card industry. According to market data available there are between 40 and 80 million people in the United States who don’t have a bank account or who can’t qualify for a credit card because their credit scores are too low. This is called the under banked market. The emerging pre paid debit card solutions offered by Bank Freedom can act as a virtual bank account, card account and payment solution for those people who do not use banks or credit cards. For the under banked the evolution taking place with pre paid debit cards can replace their reliance on check cashing centers, money orders, and the inability to buy certain products that require a major credit card.
Bank Freedom has approximately 100 agents located across the United States that offer complete merchant account services. Through Bank Freedom merchants can begin processing credit cards. Bank Freedom establishes merchants through either the merchant’s point of sale terminals, wireless terminals and or the Internet.
For further information contact Ryan Guenthart at 877-237-6260 ext. 110 or visit the Company website at www.BankFreedom.com .
Certain statements contained in the above, are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company’s current plans, intentions, beliefs and expectations and statements of future economic performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to differ materially from what is currently anticipated. The Company cannot guarantee its future results, levels of activity, performance or achievements.
- Contact Information
- Ryan Guenthart
- Public Relations
- Berman Holdings, Inc.
- Contact via E-mail
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