FNet Corp. Issues 1st Telephone Debit Card

FNet Corp., a subsidiary of Franklin Telecom in Westlake Village, has issued its first commercial prepaid telephone debit card for calls originating within the United States.

FNet debit cards are already in use in Europe and South America.

The marketing launch of this product came after two years of intense planning, company officials said. FNet CEO Jim Magruder said his company’s network allows the user to bypass traditional public telecommunications networks and reduce long-distance costs.

Magruder said FNet will offer several types of prepaid debit cards.

Franklin Telecom designs and manufactures communications devices. Its Internet subsidiaries, FNet and Internet Passport, provide services using Franklin Telecom products.