JACKSONVILLE, Fla., Dec. 22 /PRNewswire-FirstCall/ -- FNDS3000 Corp (OTC Bulletin Board: FDTC) (Frankfurt: "FT4," A0MWLG), a financial transaction processing services company, currently introducing prepaid card programs to the South African market, today announced the successful completion of the Market Test Phase ("Market Test") and that the Company has commenced the Production Roll-Out Phase ("Production Roll-Out") of its card processing operations in South Africa.

The prime objective of the Market Test was to ensure stability, confirming and validating the processes and systems that are required to handle the higher volume of prepaid cards to be processed during the Production Roll-Out. The Market Test was conducted by continuing the distribution of our cards to corporate clients while simultaneously stress-testing our processes and systems. This was accomplished by increasing the number of transactions being handled, while continuing to meet the service expectations of our customers. During this phase some minor systems problems, related to South African local specifics did emerge. However, these issues were quickly identified, addressed and rectified.

As the Market Test progressed in October and November, it became evident that the process of delivering cards to cardholders, in an environment where physical addresses are not always well defined and logistical options are limited, took our corporate clients longer than they projected. The Company has taken steps, in cooperation with our distributors and corporate clients, to improve the planning and execution of the delivery and activation process and early indications are that card activation rates are improving.

With the number and variety of our customers growing in recent weeks, the early results of potential revenue and margin growth, we believe, have been fairly encouraging. As the number of cardholders increases, and usage patterns stabilize, we will report on experience and trends.

As expected, we surpassed the 50,000 card threshold in early November and enter this next phase with approximately 70,000 cards distributed to corporate clients. The Company currently has 37 contracted customers with 11 more customers under active negotiation.

On May 14, 2009, the Company sold Atlas Merchant Services LLC, a Nevada limited liability company. The last transaction related to the sale is a payment by the Company to the seller. The payment was calculated on December 15. The parties have agreed that the amount of the payment is $137,860, and are finalizing the timing and other specifics with respect to this payment.

John Hancock, Chief Executive Officer, stated "As we head into 2010, I am pleased with our progress to date as we continue to execute our plan to develop our prepaid card programs in the South African market and our commitment to customer service and technical excellence. A major objective of the Market Test was achieved in that the team has been very effective in identifying and overcoming implementations issues and increasing its knowledge base. I want to thank distributors and employees, for their dedication and hard work at this crucial stage of our development and our stockholders for their support. We believe that 2010 will be an outstanding year for FNDS3000 Corp as we remain focused on delivering long term and sustainable shareholder value."

About FNDS3000 Corp: FNDS3000 Corp (OTC Bulletin Board: FDTC) (Frankfurt: "FT4," A0MWLG) is a financial transaction processing service company. Since its inception, its focus has been on the development and implementation of a variety of prepaid card programs outside the United States, including services to individuals who lack access to conventional banking services. FNDS3000 meets a vital need of companies that have financial dealings with such individuals by offering prepaid cards that can be tailored to the differing requirements of each customer. FNDS3000 intends to provide these services in both developed and underdeveloped nations through a proven U.S. processing platform that has been designed for international and cross border capability. Many of these FNDS3000 products carry worldwide brand marks and can be used anywhere that accepts these brands. Programs that can be supported include payroll, insurance, medical aid, gift cards, prepaid cellular charges and small-scale international transfers of funds.

Forward Looking Statements

Matters discussed in this press release contain forward looking statements as defined under the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risk and uncertainties, which could significantly impact the actual results, performance, or achievements of the Company. Such risks and uncertainties include, but are not limited to, the potential loss of our relationships with each of the parties that sponsor our cards and banks that manufacture, issue, and own the cards; the loss of our service providers; security breaches of our electronic information; the inability to raise sufficient capital to fund its operations; and other risks as may be detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise its forward looking statements even if experience or future events make it clear that any of the projected results expressed or implied herein will not be realized. 


    Contact:
    Joe McGuire
    Chief Financial Officer
    FNDS3000 Corp
    904-273-2702
    jmcguire@FNDS3000.com
    www.FNDS3000.com

SOURCE FNDS3000 Corp