Under the terms of the deal, Global will provide an integrated solution that links the UltraPawn client base with access to funds received from the sale of personal assets. UltraPawn customers can now decide to either convert their sales proceeds to cash through a nationwide ATM network or use the prepaid cards for in-store or online Point of Sales transactions.
According to the National Pawnbrokers Association, the USD 780 million-a-year market has grown at over 10 percent per year for the last five years, with 15 percent growth in 2012 alone.
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