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Consorteum Holdings, Inc. (CSRH) Uses Card Technologies to Fill Gaps in Worldwide Financial Services

|Includes: Consorteum Holdings, Inc. (CSRH)

When Consorteum Holdings announced earlier that it was launching an innovative MasterCard® program, targeting the Canadian Aboriginal communities, it was a reflection of the company’s overall strategy to fill large gaps in the provision of comprehensive financial services to all segments of the population. In the case of the First Nations MasterCard Program, it was a major move to make life easier for a significant national community.

The card functions much like any MasterCard. Pre-loaded with authorized funds, it is available to anyone, and offers a more efficient and safer way to transfer funds to individuals than by issuing checks, which can be lost or stolen, and which can be difficult to cash if you don’t happen to have a local bank account. As with a regular MasterCard, purchases can be made virtually anywhere, with the amount of the purchase simply being deducted from the card’s balance. The card can also be used for obtaining cash at participating ATM machines.

From a larger perspective, Consorteum’s products represent the application of the latest digital technologies, together with key connections within the financial industry, to help companies and organizations more efficiently transfer payments and process transactions. Other applications include the development of customized loyalty programs for clients, where card technology is used to reward loyal customers, or providing healthcare patients with card-based systems for tracking and managing health records and transactions. The company also makes it easy for ship operators to pay international employees that require different currencies.

More than a simple financial service, it can change lives. It was perhaps best said by Rudy Youngblood, a Native American who has spent much of his life raising the profile of Native American communities throughout Canada and the United States: “This journey presents a once in a lifetime opportunity to be part of a program that will change history. This is something I have been fighting for all of my life and to provide the Tribal regions with access to a full suite of financial services is tremendously empowering.”

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