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 per month.1

"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.

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 and

1 Source BMI-T.

SOURCE VendTek Systems Inc.

For further information:

For more information please contact Samantha White at 604-805-4653 or 1-800-806-4958 or

Organization Profile

VendTek Systems Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890