VendTek Systems Provides an Update on Brazil Operations

TSX Venture Exchange: VSI

VANCOUVER, Sept. 19, 2011 /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 provide an update on its new operations in Brazil.

Brazil is a significant market opportunity for VendTek. The Company has invested over $1.5 million to-date to establish its network in the country. Over the last nine months, the Company has achieved a number of key milestones including:

  • Contracts with the Brazilian wireless carriers to provide electronic top-up services to a subscriber base of over 180 million people across the country
  • Contract with Santander bank to provide branchless banking and bill payment services at our network locations - selected locations can act as a bank branch using e-Fresh™ software
  • Established offices in two cities to facilitate the distribution of prepaid products and SIM cards broadly
  • Launching the network in June, 2011

As of August 31st, 2011, the Company has grown its network to about 900 locations primarily in the province of Sao Paulo. Since July, transactions processed through the network have grown week over week by an average of 15%. Dollar volumes processed through the network have grown to over R$150,000 (C$ 87,000) per week.

"Our Brazilian subsidiary is now properly positioned for growth. We have built our operations, secured supply contracts with the top carriers and developed the technology and local integration capability to pursue multiple distribution strategies. To date, we are pleased with our roll out in Brazil. Noting the fact that we have a very new network in the country, the key metrics of our locations compare very favourably to our established network in Canada," said Doug Buchanan, President and Chief Executive Officer of VendTek.

About VendTek
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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


SOURCE VendTek Systems Inc.

For further information:

please contact Samantha White at 604-805-4653 or 1-800-806-4958 or investment@vendteksystems.com.

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VendTek Systems Inc.

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