EnXnet, Inc. Announces Improvements to ThinDisc© Patent Application
While the ThinDisc(c) has many
applications, a primary and high-volume use is stored value cards combining
magnetic stripe and bar code data with optical media, in Compact Disc (CD),
Digital Video Disc (DVD) format, or any other optical disc readable products.
Including the optical disc readability allows issuers to promote their products
with both audio and video messages while providing their customers with added
value and convenience when using a stored value card. Stored value cards
include, but are not limited to, debit, event tickets, gift, health services,
incentive, loyalty, merchandise, payroll, prepaid phone, promotion, room key,
or other monetary transaction cards. Stored value cards are one of the most
dynamic and fastest growing products in the financial industry. Anyone who
makes purchases with a merchant gift card, places phone calls with a prepaid
telephone card, or buys goods or services with a prepaid debit card is using a
stored value card.
The ThinDisc(c) is the same
thickness as a standard credit card, thus it is easily read by existing credit
card readers. ThinDisc(c) offers issuers a unique
stored value card that has audio and video capabilities to promote its products
and services. Issuers can now deliver store and product promotions, printable
coupons, sales campaigns, specials and other information about their company
when they issue a stored value card. ThinDisc(c)
technology significantly multiplies the usefulness of these cards for both
issuer and user.
The
stored value card market is growing and evolving rapidly. There are about 1
billion stored value cards in use today. It is estimated that the US stored
value card market will be worth $290 billion by 2006. The Pelorus
Group noted that the global market for all stored value applications in 2004
stood at just under $490 billion, according to a recent Prepaid Press article.
Experts put this industry in the introductory or early growth stage of the
product life cycle, suggesting that there is substantial growth potential in
the years ahead. Stored value solutions have become the most talked about, next
generation marketing tool for retailers. It is estimated that shoplifting
occurs 330 - 440 million times per year at a loss of $10-$13 billion dollars.
Nationwide, that equates to 1.0-1.2 million shoplift incidents everyday at a
loss rate of $19,000-$25,300 dollars stolen per minute.
Mark Pempsell, Director of Marketing of EnXnet,
Inc., had this to say: "Our ThinDisc(c)
technology was developed to accommodate a wide range of applications. When
approached by the stored value card industry to use our technology, we were
able to adapt our manufacturing process to meet their needs. It gives us great
pleasure in seeing one of our technologies being applied to an industry with
such explosive growth potential. We feel that bringing ThinDisc's(c)
audio and video capabilities to the stored-value card industry will prove to be
an essential element in fueling this growth by opening new communication
channels for both the card issuers and card users."
This release may include forward-looking statements from the company
that may or may not materialize.
Additional information on factors that could potentially affect the
company’s financial results may be found in the company’s filings with the
Securities and Exchange Commission.
Contact:
Ryan
Corley
EnXnet, Inc.
918-592-0015
Fax: 918-592-0016
investor@enxnet.com