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PrimeBuy International Companies' Information:
"PrimeBuy International, Inc.(OTC: PBUY) announced the introduction of an array of financial services for consumers to purchase online within PrimeBuy's member community. These personal financial services include Home Loans, Home Refinancing, Auto Loans, Debt Consolidation, credit reporting and credit repair, provided by leading financial service companies, such as MortgageSelect.com, a division of American Home Mortgage Corp. LoanWeb.com, an online lending portal, and PeopleFirst.com, established in 1995 to provide competitive vehicle financing online."
"Research shows that more than ever consumers are accessing the Internet for personal financial services. Scarborough Research, specialized in local market studies, reports that in 2001, 69% of US households with an annual income of $75,000 or more, access the internet. Many of these households seeking the very services PrimeBuy now has to offer. PrimeBuy's financial service offering will represent a new revenue center from which PrimeBuy expects to generate revenues from each transaction concluded by one of its members. In addition, PrimeBuy's members will receive cash-back rewards from each transaction they conclude within their client base."
"Financial services further augment the company's current Internet offerings and the introduction of these online resources for our members is in response to significant demand," said Lisa Storie, VP Merchandising, "PrimeBuy members and customers can now place orders online for financial services and earn cash-back rewards from completed transactions." She added: "We expect such services to represent yet another revenue component for the company."
"PrimeBuy offers cash-back rewards to its member-driven online network through thousands of customer marketed web sites. To date PrimeBuy's software licensing, marketing and sales aids, private-label sales and participating merchant commissions, generate multiple revenue streams for the corporation.
PrimeBuy is headquartered in Irvine, California, and serves as a reseller of products and services offered by over 1,000 merchants, including Wal-Mart, Kmart, Nordstrom's, Borders Books, Staples, IBM, Sharper Image, Office Max, Lands End, Disney, Mattel, Old Navy and other popular brand name retailers collectively offering more than 100 million products and services."
PrimeBuy Network, now known as PrimeBuy International, Inc., is a network marketing company offering discounted online shopping by serving as a reseller for more than 1000 merchants offering their products and services. Members shop at brand-name stores online, and receive discounts. They can take these discounts as cash or send them directly into a mutual fund or retirement account that's been set up in their name. Revenue is generated by software licensing, member fees, sales from affiliate stores, private-label products, training, marketing, travel and telecommunications products.
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