- The high visibility/high impact marketing initiatives for BMPI`s offering of a prepaid MasterCard designed for teenagers have now been officially launched. Global pop/R&B music phenomenon Justin Bieber becomes the first major celebrity spokesperson to be signed by the emerging firm.
- We fully expect that several other major celebrity endorsements will be announced in the future and that competitors in the debit card space will be "shocked and awed" by the size and scope of these marketing initiatives. We continue to believe that these very visible endorsements will help BMPI`s product stand out more clearly as a differentiated play in the prepaid card payment industry- particularly since they will target teenagers and their parents. We also expect that BMPI will continue to attract niche partners and initiatives which play into increasing revenues and membership figures for the firm.
- Public filings related to the endorsement deal with Justin Bieber show that the agreement is incentivized and calls for Mr. Bieber to promote and endorse the Company`s products through various media. Services include the approved use of Justin Bieber`s likeness and image, and promotion of the Company`s products across social media, including postings on Facebook, Twitter and Instagram, videos, voicemail and e-mail messages from Justin Bieber to Company cardholders, and other cardholder experiences. That the Bieber brand is global and has wide appeal across various demographics, should help the visibility, attention and recognition of the BMPI SpendSmart reloadable prepaid MasterCard® for teenagers.
- We continue to believe that the firm is actively planning to up list to a major exchange and industry observers see signs that BMPI management is also actively working to expand their financial processing platform capabilities in order to accommodate the expected growth. These actions should play out as key developments and hint that BMPI is not only aiming, but actively positioning to become a much bigger player in the prepaid debit card space.
- BMPI has set a target to have 1 million users within the next 24 months and 3 million users by the end of 2014. Continued execution will attract a significantly higher valuation for the discounted shares of the stock.
- Although US teenagers wield about $200 billion in buying power, card penetration is thin in this segment. Room for growth is borne out by the fact that loading on prepaid cards is expected to surge to $167 billion in 2014 from $71 billion in 2011.
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Headquartered in San Diego, CA, BillMyParents, Inc. is a financial solutions company focused on helping teens and young adults between the ages of 13 and 18 to manage spending. As its primary product offering, BillMyParents offers a prepaid reloadable MasterCard with parental features ranging from giving parents complete control to make purchase on behalf of their teens to simply monitoring their teen`s purchase transactions. BillMyParents provides solutions that facilitate communication between parents and teens while helping to teach financial responsibility.
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