Next Group Holdings, Inc. (OTCQB: NXGH) subsidiary NEXTCALA, Inc. has signed an agreement with Glocal Payment Solutions, Inc. to form a joint venture to be named NextGlocal that will provide financial solutions, mobile banking and telecommunications solutions to the under-banked population, the company said.
The NextGlocal financial products will provide attractive pricing and extra benefits to unbanked and underbanked consumers.
NEXTCALA will make available to the joint venture every feature of NEXTCALA´s prepaid card financial services program platform, including without limitation, its standard GPR (general purpose reload) features, functions, and support, co-branded and customized for GLOCAL´s business and consumer customers through a distinct NextGlocal co-branding program to meet demand created by NextGlocal.
GLOCAL is a multi-media commerce payment solutions company engaged in creating and sustaining a state-of-the-art payment processing solution and network that encompasses a wide range of participating suppliers, incentives and affinity across multiple business and consumer network groups.
NXGH engages in the business of using proprietary technology and certain licensed technology to provide innovative mobile banking, mobility, and telecommunications solutions to underserved, unbanked, and emerging markets.