Jack Chang
La Jolla, CA (USA)
Role(s):
Founder/Owner/Principal
One Debit Ltd
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Startup
Location:
San Francisco
Industry:
Banking
Year Founded:
2016
Number Employees:
10-50 people
Business Stage:
Creation/Idea
Entity Type:
Incorporated Outside United States
Description:
In Mid-2014, Jack Chang, pioneer of modern-day electronic banking systems, started One Debit Associates as a provider, program manager and B2B marketer of international prepaid debit cards and eWallet (electronic wallet) systems. Since early 2015, One Debit acquired 8 client groups and sold 50,000 prepaid debit cards issued by the partnering Barclays Bank of U.K.
In June 2016, One Debit spearheaded a GIVE (Global Inter Value Exchange) Initiative, which is a joint venture with an electronic payment systems developer from U.K., four international partner banks, one U.S. partner bank and two international payment system processors to build the GIVE electronic platform integrating state-of-the-art technologies with multiple financial, eCommerce and telecom services.
The GIVE initiative’s objectives are to provide the following optimal solutions, worldwide, for:
1. International payroll and commission payout needs by deploying prepaid cards and eWallets
2. A global GPR (General Purpose Re-Loadable) prepaid card that can be self-loaded and retail-loaded ubiquitously
3. A shopper reward program that motivates consumer spending using the GIVE payment system solutions
4. Low cost and efficient cross-border personal remittance
5. Low cost and rapid international funds transfer infrastructures
6. Ubiquitous mobile airtime remittance
7. Electronic payment instruments for gaming and digital currency needs
As of July 22, 2016, all technological development of the solutions has completed. With Letter-Of-Intent received in the months of June and July 2016 for 150 million Global GPR cards, One Debit plans to incorporate in U.K. and Hong Kong in early August 2016 and launch the marketing and delivery of the products.
One Debit is currently seeking to raise $1,000,000 through a convertible promissory note, which has 10 blocks of $50,000 each. The purpose of the offer is to raise capital for the preparation to start the large-scale deployment of the GIVE Initiative.