News

Morgan Beaumont brands cash loading locations the Sire Network

January 25, 2005

SARASOTA, Fla. - Morgan Beaumont Inc. (OTCBB:MBEU) has opted to brand its national platform of cash-loading and payment locations as the Sire Network, according to a news release.

Morgan Beaumont is a technology-solution provider to the stored-value and debit card market as well as an issuer of signature-based VISA, MasterCard hologram cards and debit card solutions.

"The Sire Network provides a brand name, look and feel for our proprietary technology platform and network of retail load locations," said Cliff Wildes, Morgan Beaumont's chief executive. "Now consumers will see the Sire Network logo displayed prominently at merchants in our network, as well as in other marketing collateral they may receive."

As part of the branding initiative, the company's network of POP locations, expected to reach at least 100,000 by the end 2005, will receive marketing materials highlighting the Sire brand. Morgan Beaumont plans to train merchants, agents, independent sales organizations and distributors on how to make their membership with the Sire Network productive.

"We are establishing certification standards so that competing card programs can participate with us on our network," he said. "So far, interest in certification has been high because the industry desires a national, inter-operable platform that supports repeated card usage and localized services to consumers."

The goal, Wildes added, is to make the Sire Network "the de facto standard debit/ATM platform and payment network in the nation."