VANCOUVER, April 6 /CNW/ - VendTek Systems Inc. (TSX-V - VSI) (the
"Company" or "VendTek"), a developer and licensor of software for the
global prepaid and financial services markets, is pleased to announce
that its wholly owned subsidiary in Brazil, Now Prepay Servicos de
Informatica Ltda., has signed an agreement with credit and debit
processor to provide electronic mobile recharge services to the
processor's merchant network (approximately 3,000 distribution points).
The two companies plan to integrate their systems to allow mobile
recharge transactions. The project should be launched in the fiscal
fourth quarter of 2011.
Mr. Doug Buchanan, President and Chief Executive Officer of VendTek,
says the Company is extremely pleased that Now Prepay Brazil has been
chosen to provide electronic mobile recharge services.
"This is our first noteworthy customer win in Brazil," continued Mr.
Buchanan. "Adding three thousand locations to our network without the
corresponding fixed asset costs is significant. We believe this
contract will accelerate our market penetration in Brazil after the
integrations are completed."
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.
This news release contains forward-looking statements that are subject
to risks and uncertainties that may cause actual results or events to
differ materially from the results or events predicted in this release,
including those comments predicting the level of inventory
overstatement and its material impact on the financial statements.
Although we believe that the forward-looking statements contained
herein are reasonable, we can give no assurance that our expectations
are correct and that the results, performance or achievements expressed
in, or implied by, forward-looking statements within this disclosure
will occur. All forward-looking statements are expressly qualified in
their entirety by this cautionary statement.
SOURCE VendTek Systems Inc.
For further information:
Samantha White at 604-805-4653 or 1-800-806-4958 or firstname.lastname@example.org.