VANCOUVER, April 25 /CNW/ - VendTek Systems Inc. (TSXV: VSI) (the
"Company" or "VendTek"), a developer and licensor of software for the
global prepaid and financial services markets, is pleased to announce
that it has signed an agreement with Universal Payment Systems Ltd. to
license its e-Fresh™ software for the Nigerian market.
This is the second license agreement that the Company has signed for
Nigeria. VendTek has an existing license partner in the country with a
network size of over 400 terminals.
Nigeria is the most populous country in Africa with a population of
about 151 million people. There are about 86 million mobile prepaid
subscribers in the country. The prepaid ARPU ranges from US$8 - US$14
"This is the second endorsement of our technology for the Nigerian
market this year. Our first positive development this year was that our
existing partner has grown their network from 174 terminals at our year
end to over 400 terminals to-date," stated Mr. Doug Buchanan, President
and Chief Executive Officer.
VendTek develops and licenses automated transaction system software and
supporting technologies. VendTek's customers, subsidiaries and its Now
Prepay division use e-Fresh™ software to build electronic, prepaid
services networks that enable consumers to purchase prepaid products
and services via POS and self-serve terminals connected to a central
server. This system creates significant value through improved
efficiencies compared to a traditional distribution model. e-Fresh™
reduces shrinkage and inventory requirements for vendors while
improving consumer access to prepaid products and services by
completely eliminating physical cards and vouchers. VendTek has
deployed its software around the world including Canada, United States,
Asia, the Middle East and Africa. For further information please visit
the Company's websites www.vendteksystems.com and www.nowprepay.com.
1 Source BMI-T.
SOURCE VendTek Systems Inc.
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