Consorteum Holdings Inc. has extensive expertise within the payments and transaction industry globally. By identifying new technologies and trends in the marketplace, the company aims to increase revenues in existing markets, enter new markets, and deliver unique products and services more effectively and efficiently.
The company recently announced its intent to divide the company into the operational divisions it has been creating over the last 12 months. Consorteum will be divided into three main business units: Consorteum Financial Services, MyGolf Rewards and Technology Services.
Consorteum Financial Services will focus on new initiatives targeting the traditional payment markets, working with established partners such as NxSystems and 8760, relationships that have already been announced. These initiatives are anticipated to be highly lucrative, resulting in long-term contracts that produce ongoing revenue streams with recurring transactions.
An update within this division regards Blue Sea Manning which is now two months into piloting Consorteum’s new payroll system and multi-currency program. The company is now able to offer the cruise ship and private yachting industry a proven new method of international payroll and currency settlement. Consorteum expects to announce a larger initiative in this area soon.
The second business unit at the company will be MyGolf Rewards, a company in which Consorteum now holds a controlling interest. MyGolf Rewards is a loyalty program that will reward golfers for playing golf. A pilot program has been successfully completed and the program is now ready for rapid expansion both in North America and internationally.
Consorteum’s third business area is a joint venture with Tenzing Interactive, a company it intends to acquire. The combination will be focused on new and emerging technology partners and will be completely transaction based.
Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net
Disclosure: no positions