Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Consorteum Holdings, Inc. (CSRH.OB) Successfully Deploys Payment Cards Pilot Program for First Nations

Consorteum Holdings, Inc. was pleased to announce this morning that on July 27, 2010, its client, First Nations Financial Services (“FNFS”), deployed its first pilot program of MasterCard benefits cards. As previously agreed to, FNFS funded the expenses of the pilot, which was launched with the Madawaska Maliseet First Nation Community, in Edmundston, New Brunswick, Canada.

Targeted at the community’s administration group, the pilot will provide valuable data for expansion of the program. According to the press release, Consorteum Holdings will launch a multi-location pilot rollout in the next 2-3 months subject to the success of the pilot and to receipt of additional funding. This initial deployment is the first of a suite of products and services, including point-of-sale services as well as additional banking, credit and related financial offerings, for aboriginal communities in North America.

Mr. John Bernard, a First Nation’s partner in the initiative, stated, “This pilot will enable us to clearly identify the requirements for rollout of the initiative on a much larger scale. We are very pleased with the progress and look forward to the next stages of deployment.”

Chief Joanna Bernard of the Madawaska Maliseet Community said, “This pilot will provide important feedback on how we can launch the initiative nationally. We are pleased to participate in the program, and given the initial feedback, we look forward to a successful national launch.”

Craig Fielding, CEO of Consorteum Holdings, added, “This program will contribute dividends back to participating communities, and as an aboriginal sponsored program, provides much needed services to the communities. Collectively we expect the program to be beneficial and profitable to all parties.”

Please see disclaimer on QualityStocks website:

Disclosure: no positions