WikiLoan, Inc. is a financial social network focused on serving the unbanked and underbanked consumer market, which exceeds 28 million in the US. It is anticipated that the company’s “Wiki” branded cards will be launched into the marketplace by April 1 and may ultimately reach more than 20,000 distribution points. Up to 5 million “Wiki” cards will be sold possibly resulting in tens of millions of consumers being exposed to the “Wiki” brand through various advertising collateral.
“What’s so special about this deal is that the distribution points are primarily located within immigrant communities and run by local merchants. Often within these neighborhoods, storeowners directly educate consumers about various products and services. We intend to capitalize on these relationships by offering products that address the needs of the local consumer while giving them a great value. The company believes that the local footprint will bridge the cultural gap, build trust and strengthen the speed of adoption of “Wiki” branded products,” stated Edward DeFeudis, Founder and President of WikiLoan.
“WikiLoan is perfectly positioned to fill the needs in this community by giving consumers a resource for short-term loans with extremely low fees, fast identity verification methods, and the creation of payment histories, which may help build credit,” added Marco Garibaldi, Founder and CEO of WikiLoan. “WikiLoan will continue our focus to build out technology to accommodate the needs of the market, and eventually attract them toward more traditional and profitable products in the future.”
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