Englewood Cliffs, NJ - Sept. 30, 2009
LTI Global™ (US) a leading prepaid service provider of long distance, wireless, and carrier services and Payletter, Inc (Korea) an online game billing solution and integrated payment services provider today announced a strategic joint venture to form Open Network Entertainment, Inc (ONE). The joint venture provides a solid platform for continued growth in the rapidly expanding prepaid and online payment market.
ONE is creating the ONE Power-Up Game Card, a value-added prepaid product for use with online games, virtual worlds, and social networks. The card will provide unique benefits to consumers as well as retailers and online content publishers.
“Usage of prepaid card products is growing, spreading relatively evenly among most income groups and changing the way consumers make purchase decisions”, said Pete Grubb, vice president of sales and marketing for ONE.“ONE empowers online content publishers by providing them with a cooperative marketing toolset to deeply engage audiences with their brand while providing retailers the opportunity to drive in-store traffic and purchases through relevant promotional offers to the video game demographic.”
ONE’s integrated prepaid solution has been developed to address the needs of both consumers and publishers; consumers benefit from a product that provides convenience, flexibility and extra value while publishers benefit from a strategic marketing platform that enables them to expand their competitive edge. Key publisher benefits include:
• Cooperative marketing system that will drive traffic to publisher and retail partners
• Integrated marketing toolset that provides education on new game titles, cross-promotions and exclusive offers to attract new users
• Retail product integration including in-store positioning, merchandising and sales support
• New markets opportunities through multiple distribution channels and native language localization
• Reporting that tracks sales and provides marketing analytics
“The joint venture between Payletter and LTI Global combines the strengths of each company to create a unique product offering that benefits consumers as well as our online publishing and retail partners”, said Billy Lee, director of global business development for Payletter, Korea.
About Open Network Entertainment
Open Network Entertainment, Inc (ONE) was formed through a joint venture between LTI Global-US and Payletter-Korea in 2009, to create the ONE Power-Up Game Card. The ONE Power-Up Game Card is a value-added prepaid product for online games, virtual worlds, and social networks. The universal card can be purchased at retailers nationwide and used across a growing number of more than 20 online properties. For more information please visit www.ONEgamecard.com or www.opennetworkent.com.
About LTI Global/Locus Telecommunications
LTI Global/Locus Telecommunications is a an established US provider and marketer of prepaid communication products and services, including pre paid wireless, long distance calling cards and carrier services. The company has extensive urban/independent/ethnic distribution network throughout the US. They also have established relationships and distribution with regional and national retailers, through Incomm, as well as third party technology providers and channel partners.
About Payletter, Inc. - Korea
Payletter, Inc is an online game billing solution and integrated payment services provider. The company has strong and well-established relationships among some of the world’s most prominent online game developers and publishers. Payletter operates as a professional service provider handling various content related and micro-transaction billing processes.
Julia Roether, TriplePoint
Pete Grubb, VP of Sales&Marketing, Open Network Entertainment