HENDERSON, Nev.--(BUSINESS WIRE)--3PEA International, Inc. (OTCBB:TPNL) (OTCQB:TPNL), a vertically integrated provider of innovative prepaid card programs and processing services for corporate, consumer and government applications, today announced 2014 full year revenue guidance. 3PEA expects 2014 revenue of $9.25 million to $9.75 million as compared with revenue of $6.3 million in 2013, an annual increase of 47% to 55%. The Company also expects 2014 net income to surpass record levels.
The forecasted revenue and net income are driven by growth in corporate incentive programs launched in previous quarters, the launch of co-pay assistance prepaid card programs for new and existing customers, growth in the card fulfillment business and the launch of several PaySign® prepaid card solutions for new customers. The Company expects PaySign® to continue to win new business within existing verticals and penetrate newly targeted markets. The growth in new business is attributable to our successful direct sales model, resulting in the acquisition of several new clients in the healthcare space.
“3PEA continues to invest in technology infrastructure and the human capital necessary to scale the business. 3PEA expects to begin to show positive results in 2014, as we expect a significant increase in both annual revenue and net income,” said Arthur De Joya, Chief Financial Officer, 3PEA International. “The response to the PaySign® prepaid card solution has been overwhelmingly positive, as several new customers have selected 3PEA as their payment solution provider. 3PEA is committed to the continuing growth of both revenue and profits through providing our customers the most cost effective prepaid payment solutions available.”
About 3PEA International
3PEA International (OTCBB: TPNL) (OTCBB: TPNL) is an experienced and trusted prepaid debit card payment solutions provider as well as an integrated payment processor that has millions of prepaid debit cards in its portfolio. Through its PaySign brand, 3PEA designs and develops payment solutions, prepaid card programs, and customized payment services. 3PEA manages programs for many of the world’s largest pharmaceutical manufacturers with copay assistance products designed to maximize new patient acquisition, retention and adherence. 3PEA’s corporate incentive prepaid cards are changing the way corporations reward, motivate and engage their current and potential customers, employees and agents. 3PEA’s customizable prepaid solutions offer significant cost savings while improving brand recognition and customer loyalty. 3PEA’s customers include healthcare companies, major pharmaceutical companies and source plasma providers, large multinationals, prestigious universities and social media companies. PaySign is a registered trademark of 3PEA Technologies, Inc. in the United States and other countries. For more information visit us at www.3pea.com or follow us on Twitter and Facebook.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There is no assurance that such statements will prove to be accurate, and actual results and future events could differ materially. 3PEA undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.