CORRECTION -- PNNX Enters Into Agreement With Vista Money to Launch Its Worldwide "Your Social Offers" Pre-Paid Debit Card
Philadelphia, PA - (NewMediaWire) - November 6, 2019 - CORRECTION- Pennexx’ wholly owned subsidiary
“Your Social Offers” has entered into an agreement with Vista Money (https://vistamoney.com/)
to issue open and closed loop prepaid debit cards which will enable the company
to launch its branded pre-paid plastic and virtual debit cards. In addition, the contract permits “Your Social
Offers” access to Vista Money’s payment platform worldwide.
Pennexx (“PNNX” or “the company”)
will generate revenues from “Your Social Offers” via a standard monthly fee of six
dollars per card from each consumer, a fee from companies to be onboarded to our
program as well as a percentage of monies flowing through at the time of each transaction
generated. PNNX will also assist its partners by utilizing the data obtained from
consumer purchases to engage in targeted marketing through the use of its artificial
intelligence technology.
“PNNX is the most exciting company
I have ever been involved with and this debit card agreement unleashes a new, disruptive
technology that allows “Your Social Offers” to integrate our system with real money
rewards,” said Vincent Risalvato, Chief Technical Officer of PNNX. Mr. Risalvato
continued, “It enables our clients’ consumers to have direct money access with a
digital wallet and physical debit cards usable anywhere, as well as the collection
of data from those transactions for use in targeted marketing by our clients.”
“Your Social Offers” owns the worldwide
licensing and distribution rights through Vista Money for all its products and platforms
to include its Artificial Intelligence Data Collection and Aggregation System.
“While it is estimated that over
one billion people worldwide, including 40 million Americans, do not have access
to bank accounts, “Your Social Offers” clearly provides the solution for those consumers
and we believe we can capture at least one percent of that market on a monthly recurring
basis,” said Alexander Cook, President of PNNX.
Further updates from PNNX will be
forthcoming.
About Pennexx Corporation (PNNX:
OTCMKTS US). Pennexx, through its wholly owned subsidiaries Your Social Offers and
Triple 888 Logistics Inc., is a holding company within the Software/Internet Industry
that is focused on prepaid debit and credit cards and utilizing artificial intelligence
to gather information for targeted marketing.
Safe Harbor Act: This release may
contain "forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange
Act of 1934, as amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans, results,
or strategies and are generally preceded by words such as "may," "future,"
"plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually"
or "projected." You are cautioned that such statements are subject to
a multitude of risks and uncertainties that could cause future circumstances, events,
or results to differ materially from those projected in the forward looking statements,
including the risks that actual results may differ materially from those projected
in the forward-looking statements as a result of various factors, and other risks
identified in a company's annual report.
For additional information, visit
our website at www.Pennexx.net or call 866-928-6409. We are also on Twitter @Pennexx.