TORONTO, Aug. 8, 2012 /CNW/ - SelectCore Ltd. ("SelectCore" or the
"Company") (TSX-V: SCG) a leader in prepaid payment solutions for
underserved markets is pleased to report on the successful launch of
the City of Toronto's City Services Benefits Card program.
On July 18th, SelectCore announced that it was awarded a long-term
contract from the City of Toronto to supply prepaid card programs. The
first phase of the contract has been launched with Toronto Employment
and Social Services (TESS) for the delivery of Social Assistance
Financial Benefits to Ontario Works clients.
Just three weeks into implementation at five of its sites, Toronto is
already experiencing an increased demand for the City Services Benefit
Card. As more clients are issued the card and become familiar with its
use, and caseworkers have the opportunity to discuss its benefits, more
clients are eager to move away from cheques and onto the card.
Both Toronto clients and staff are transitioning smoothly to the new
payment method referring to it as "modern" and "user-friendly".
Toronto staff have easily adapted to the new technology and are already
seeing the benefits of this streamlined payment method.
With a successful first stage of implementation, Toronto is now
expediting the rollout of the City Services Benefit Card to include all
of its 15 Toronto Employment and Social Services locations by mid
The City Services Benefit Card is the first prepaid card program of its
kind to be launched in North America. SelectCore's payment solution
enables Toronto residents to instantly receive their Ontario Works
benefits through an EMV chip and PIN prepaid MasterCard® card that
offers ATM access and can be used anywhere MasterCard® is accepted at
over 29.4 million locations worldwide.
"We are very pleased with the successful launch of the City Services
Benefit Card," said Keith McKenzie, CEO of SelectCore. "The roll-out to
a full implementation across all of the TESS offices will prove the
validity of the program for other government agencies looking to
replace cheques with prepaid cards".
For more information, please read Toronto's news release regarding the launch of the City Services Benefit Card.
SelectCore Ltd. (TSX-V: SCG) is a pioneer and leader in prepaid payment
solutions for underserved markets. Founded in 1999, the Company offers
a range of prepaid products and services from stored-value cards to
mobile top-up that provide financial empowerment to a market of
millions of under-banked consumers. SelectCore has been ranked among
Canada's fastest growing companies by Profit Magazine four times in the
past six years and was included in the 2011 Deloitte Technology Fast
500 list of North America's fastest-growing technology companies. For
more information visit www.selectcore.com.
About MasterCard Worldwide
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world's
fastest payments processing network, connecting consumers, financial
institutions, merchants, governments and businesses in more than 210
countries and territories. MasterCard's products and solutions make
everyday commerce activities - such as shopping, traveling, running a
business and managing finances - easier, more secure and more efficient
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responsibility for the adequacy or accuracy of this release.
SOURCE: Selectcore Ltd.
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