CEC Industries Corp.'s PayCard Solutions, Inc. Subsidiary Signs Revenue Sharing Agreement With TSO
Tuesday January 13, 9:04 am ET
Company to Become Integral Part of Subsidiary's Sales and Marketing Force
LAS VEGAS, Jan. 13 /PRNewswire-FirstCall/ -- CEC Industries Corp. (OTC Pink Sheets: CECC - News) announced today that its PayCard Solutions, Inc. (PayCard), an up-and-coming leader in the burgeoning billion-dollar electronic prepaid and stored value card industry, has signed a revenue sharing agreement with TSO, Incorporated. TSO is a marketing company that specializes in Christian, Hispanic organizations and media networks. The company also has extensive relationships with domestic and international network marketing companies.
"I believe PayCard will be the largest stored value card solution company in the world," stated Tomas Alvarez, President, TSO. "I have never seen a company perform like PayCard in this industry -- quickly, honestly and diligently."
"The relationships TSO has developed over the past several years will help PayCard achieve a critical mass of cardholders within the next twelve months," stated Jill Stein, Executive Director, PayCard Solutions, Inc. "We are fortunate to be able to use TSO's international and domestic distribution channels to drive sales and achieve our financial goals."
Prepaid and stored value products: Marketed through retail locations, pin-based cash-value cards can be loaded with a cash value and used as a safe way for carrying funds for vacations, business trips and other travel. They may be given to spouses, children and as gifts and are a convenient way to transfer money to people in other states and countries. Other functions of the card include Money Transfer Card, Sales Incentive Card, Rebate Card, Shopping Card, Teen Card and Gift Card. PayCard's payroll card programs include both employer-based programs, implemented and endorsed by large employers, and employee-based programs, offered to employees on an individual basis and implemented in a style similar to direct deposit. The card can be utilized at 8 million locations worldwide. In addition to being useful for employers, these programs are also money saving solutions for multi-level sales organizations, health organizations and any other company that distributes to individuals or receives funds from individuals on a regular basis. The pin-based cards for both of these programs may also be upgraded to a signature-based card so they may be used for a larger variety of purchases.
About PayCard:
PayCard Solutions, Inc. is an up-and-coming industry leader in designing, implementing, marketing and providing high-tech solutions for stored value products, prepaid products and co-branded electronic paycards. The Company has grown substantially by providing solutions for small and large businesses, nationwide chain outlets, associations, network marketing organizations, insurance companies, individuals and independent sales organizations.
About TSO:
TSO has relationships with MLM companies, transportation companies, universities, produce companies, international automobile manufacturers and Christian Hispanic networks. TSO specializes in sales and marketing domestically and internationally. TSO forecasts acquiring 20 thousand new cardholders each month for PayCard.
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