Next » | All Messages |  MEDG Message Board Home | recommend post |  Ignore Poster

MediaNet Group's BSP Rewards Division Accesses New Market for Debit Card With New Contract for EDebitPay, LLC

EDebitPay's ("EDP") prepaid debit cards and financial services provide customers "bank-like" functionality, including a convenient way to make purchases, telephone and online account monitoring (www.edpreporting.com), electronic transfers and direct deposit functionality. By leveraging its long-standing relationship with the major debit card networks, adoption rates for EDP products and services are among the highest in industry. In addition to its debit cards, the Company markets a suite of financial services and products.

Martin Berns, Chief Executive Officer of MediaNet Group Technologies/BSP Rewards, stated, "We are excited to be working with EDebitPay as they are addressing a large and underserved market of the under-banked consumer. Offering BSP Rewards as a value added feature for their cards allows cardholders to earn cash value rewards each time they make a purchase. Rewards, provided through the custom branded online rewards mall, can be viewed through the private branded mall when cardholders login to the debit card customer support site at www.debitcardsupport.com. Debit card users are generally knowledgeable of transaction processing activities relating to financial services and commerce, so they are an ideal target market for participating in and benefiting by using our online mall."

"EDebitPay is the latest customer to have engaged us for our leading online mall platform," continued Mr. Berns. "During the past three months we have experienced a significant increase in interest. This interest is originating from companies wishing to participate in our Internet mall and royalty program as well as many retailers who want to benefit from the online traffic and buying power we are delivering on an accelerating basis. Having reached a critical mass in recent months, we are now being very selective in online retailers added to our web mall platform. We believe no other online site offers the breadth of goods and services available on our web malls, nor can others rival the savings and convenience we provide. As a result of the heightened awareness of MediaNet's BSP Rewards, there has been an unprecedented level of interest from new potential member organization. We anticipate announcing several new customer contracts in the beginning of 2008, including potential new projects with some popular consumer brands."

EDP will be offering a rewards-mall as a value added benefit and bonus program to their cardholders and cardholder family members. This new feature provides cardholder members with easy access to discount shopping and a loyalty rewards program for additional purchasing power. The convenience of e-commerce, value pricing for everyday products and services, and the added benefits of a loyalty program are the cornerstones of the BSP Rewards-mall online experience (www.bsprewards.com).

During the past six months, MediaNet Group has attracted an increasing number of merchant organizations (over 700 merchant partners, 7000 restaurants) to its BSP Rewards-mall internet platform. EDebitPay is the latest marketing member organization, among a current total of over 60 plus outstanding organizations representing over 1 million members, to engage BSP Rewards for the creation of an online loyalty program.

Member organizations are attracted by the broad selection of participating merchants, the online access to discount purchases and accompanying rewards which further enhances the value proposition, and the complete user-friendly platform that can be customized by each individual online mall shopper.

Paul Cleveland, Chief Executive Officer of EDebitPay, commented, "After much research, and with our knowledge of the market, I believe that EDP is uniquely prepared to expand its customer base and to increase customer loyalty through its new partnership with BSP. BSP is the only platform with the breadth of program capabilities that satisfied our growth requirements."

Mr. Cleveland further expanded, "I was looking for a multi-functional program that could promote customer loyalty. The platform had to be custom branded, expansive and provide 'real' benefits that customers actually want and desire. The BSP program brought together hundreds of national merchants and thousands of national restaurants that provide rebate reward points of up to 15% to everyone involved in EDebitPay."

About MediaNet Group Technologies, Inc.:

MediaNet Group Technologies, Inc. (OTCBB: MEDG) encompasses an integrated group of operating divisions that revolve around the many aspects of technology, including branded rewards programs, web mall programs, and online media intellectual properties. Additional information on MediaNet Group Technologies can be found on the Internet at www.medianetgroup.com.

MediaNet Group Technologies has developed unique proprietary platforms, software and solutions for every size business. The Company offers extremely affordable, simple, immediate implementation, delivered as feature rich turnkey rewards and loyalty enterprise solutions for corporations interested in expanding their web presence and enhancing customer relations -- turning operational costs into profit centers.

BSP Rewards, Inc., a wholly owned subsidiary of MediaNet Group Technologies, builds, brands, customizes and administers proprietary loyalty/rewards/mall program for each client and organization and is also a value added element layered onto debit and stored value cards. Members receive up to 15% in rewards and up to 60% in discounts when purchasing merchandise and other products from the nation's best retailers through the BSP network. Strategic relationships entered into as part of the Company's branded web mall concept includes leading retailers such as Macy's, Target, Starbucks, Blockbuster, Old Navy, Target, CompUSA, Budget Rent-a-Car and 700 other merchants. With over 50 web malls already developed and in use, BSP Rewards currently serves nearly 1 million registered users. A typical BSP Rewards Mall may be seen at www.bigbrandmall.com and details about the program can be viewed at www.bsprewards.com.

"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. MediaNet Group Technologies, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.