Priority One Networks Group Limited, the emerging leader in global pre-paid and debit card services announced today the recent acquisition of Globo Lotto, the latest terms of agreement will be disclose in due time.
Globo Lotto based in Australia with offices in Brazil dedicated to the implementation of the Globo Club Card.
The business has a sophisticated distribution network throughout the Brazilian landscape with offices in Rio Brazil; the company’s distribution network spans over 16 states with a direct reach to 25% of the Brazilian population.
On 11 April 2014, Priority One Network Group agreed to acquire Globo Lotto , to promote and implement the Company’s debit card program in Brazil
Globo Lotto will introduce the Priority One payment system, Bollywood TV and all of its other content to banks and merchants with circa 30 million members.
As Priority One Network group welcomes Globo Lotto into the Priority One Network group of companies, we believe that Brazils fast growing consumer market that currently is serving over 200 million people with retail spending topping $600 billion indicates the power of this expanding domestic market making the decision to acquire Globo Lotto and there expertise and distribution network within the Brazilian market a simple decision to make and greatly contributes toward expanding product offering