PRESS RELEASE MAY 2006
Extreme Cred hooks up with Rivers Run Red as Second Life virtual world payment partner
Rivers Run Red leading virtual world agency have chosen the revolutionary Extreme Cred card as their payment card of choice for their virtual world services division.
Extreme Cred is the new and unique pre paid card biz that kicked off last week. It's great because it offers a pre pay card service which means absolutely anyone can have one whatever age they are or credit rating they have. Extreme Cred cards are easy to use and work just like a traditional credit or debit card but they have no credit so have to be “topped up” or “loaded” UPFRONT before they can used, working in exactly the same way as a pre pay mobile phone. So when the credit runs out you just top it up again wherever you see a Paypoint sign, online with a credit or debit card, or at any post office. A hidden code has been built into the design on the front of every card issued and By cracking the hidden code card holders stand to win large cash prizes, discounts via Extremepie.com and a bunch of iPod nanos. Da vinci Stylie !
Justin
Bovington, the CEO of Rivers Run Red Ltd said: “This was an easy
decision; Extreme Cred cards are just great, now anyone can take part
in the emerging virtual world economic boom. The Extreme Cred enables
everyone to be in total control of their budgeting and means anyone of
any age can now purchase or trade real currency and products within the
virtual world market. This will also reduce the barrier to entry associated
with incumbent credit cards and the issues of credit card associated interest
payments.”
He added: “we’ve been keen to find a new payment system that’s
in the spirit of web 2.0: responsible purchases, based on what you can
afford, rather than what you can borrow is good for everyone.”
Bovington, when asked about this, commented: ‘It shouldn’t
matter if your dealing in gold pieces from Everquest or L$ from Second
Life. You should be able to support one exchange service across your entire
virtual life. We’re also enabling a reward scheme, cross technology
usage – mobile phones and real world product exchange.”
Al Gosling, founder and CEO of Extreme said: "the potential of the
virtual world market is massive, this is just a great hook up and is exactly
the type of thing we hope Extreme Cred can be part of. The spirit and
desire for a more straight forward and universal payment system is essential
for this sector’s growth. This is one step further, we’re
bridging the gap between real life purchasing and virtual world living.”
The
Extreme Cred card service is called UPFRONT and is called UPFRONT because
money needs to be loaded onto a card UPFRONT before it can be used and
because Extreme Cred are completely UPFRONT about all the costs and charges.
Extreme Cred are going to donate a percentage of profits to charities
of the card holder’s choice.
Virtual world services will be launching in Fall 06.
- ends -
For
further press info, interviews and images:
Stephen Gyles, t: +44 (0) 20 7244 1000; m: +44 (0) 7905 711516; e:Gylesy@extremeinternational.com
w: www.extrememediagroup.com
Notes to editors:
What
is it?
The Extreme Cred card is a re-loadable, pre pay top up card. What this
means is that it's just like a normal debit card but instead of the bank
lending you money to go and spend, you have to top it up with cash to
make it work. Just think pre paid mobile phones, you have to top the card
up with credit before you use it. The great thing about this is that you
can't get in to debt like you would with a normal debit card, AND you
get all the benefits of a normal debit card, such as chip & PIN, get
money out at cash machines, pay for anything wherever you see the Maestro®
sign and you can even use it to buy stuff online or over the phone.
Background
In November 2005, financial scheme rules were changed to enable card transactions
to be authorised online. This meant that the risk of going overdrawn on
a pre-paid account was removed, making the pre pay card proposition viable
and available to everyone of any age. Since the ruling, a number of pre
pay card solutions have come to market specifically targeting young people
however none are taking the same approach as Extreme.
There are 50 million pre paid cards in use in the USA with 100, 000 spent with them annually.
Extreme
Extreme was started in 1995 by Al Gosling, founder of the Extreme Sports
Channel and is a collection of businesses, with a shared brand and shared
values. Aged 24, passionate about extreme sports and unable to find a
job that interested him, Al set up Extreme with the goal of establishing
the world’s leading Extreme Sports media company and building a
brand.
Today Extreme delivers a range of lifestyle products and services including, Extreme Entertainment (TV distribution), Extreme Retail, Extreme Mobile (mobile phone service), Extreme Drinks, Extreme Hotels and Ex Parks (sports theme parks). Extreme employs 247 people and operates in more than 70 countries around the world. The Extreme Sports Channel reaches 38 million homes across Europe and is broadcast in 55 countries in 12 languages.
For further press information, high res pictures or samples contact:
The Press Team
Tel:
+44 20 7244 1000
Email: press@extreme.com
http://www.extrememediagroup.com
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