Cash Now Corporation (CHNW.PK) today announced the intended launch of its ecommerce sub prime lending system licensing into the Asian markets with its focus particularly set on the China, Taiwan and Hong Kong marketplace. To do so, the company acquired for cash and stock the following domain names, namely; cashnow.hk.cn, cashnow.mo.cn, cashnow.tw.cn, cashnow.org.cn, cashnow.net.cn, and cashnow.com.cn. Initially these domain names will point to the company’s main portal www.cashnow.com until the new sites are developed in the Chinese language. The Asian expansion will be managed by the company’s office in Adelaide Australia. ‘Cash Now has been in Australia since 2003 and the company has dabbled into Asian expansion for some time now, this is a natural evolution and process for Cash Now‘ said John Falting Cash Now’s President and Director of Operations in Adelaide Australia.
Cash Now will now seek governmental licensing in South East Asian countries for its services as well as opening franchises and licensing its technology in this region. The potential revenue for 100 licensees in Asia has a potential to generate 10 to 30 million dollars in revenue annually. The company plans to attend and launch Cash Now in Tokyo Japan in March 2007 through a Franchise Show & Business Expo held there. ‘This is the largest meeting place for franchisors/new business companies and people who are looking for business opportunities,’ said Garr Winter Cash Now’s Director of Marketing. ‘Until the approvals are obtained, the company plans to offer its sub prime secured debit cards through its portal www.cashnowcard.com‘ Mr. Winter added, ‘we are very excited about this opportunity’
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