May 9, 2005 - VendTek Systems Inc.
(TSX-V: VSI) ("VendTek" or "The Company"),
a leading developer of software for the prepaid service
distribution industry, is pleased to announce that its
wholly owned subsidiary Now Prepay Corp. ("Now Prepay")
has entered into an agreement with Global Payments in
Canada.
As a result of this agreement, Global Payments has certified
VendTek's eFresh™
Now Prepay client software on selected Canadian POS terminals
and will make the service available to Global Payments'
Canadian customers. This new channel will add to the growing
number of Canadian retailers that are able to provide
their consumers with Now Prepay's large variety of prepaid
services. Any merchant with the software can elect to
sell such prepaid services as Cellular Phone Account top
ups and Long Distance Calling Plans from their enabled
Global Payments processing terminal.
By using Now Prepay, merchants can offer their customers
an extensive selection of prepaid services more easily
and efficiently and without the need to hold or manage
a physical inventory of prepaid cards. Additionally, the
elimination of large onsite card inventory reduces security
risks and out of stock concerns, providing "just
in time" availability, thereby increasing merchants'
cash flows and allowing them to only pay for the product
they sell, when they sell it.
Now Prepay President, Doug Buchanan commented, "We
are very excited about our new relationship with Global
Payments, a recognized leader in payment processing in
Canada. Providing Canadian merchants with a more cost
effective and profitable method to service their customers'
prepaid phone card needs is our prime objective, and working
with Global Payments will allow a larger number of Canadian
merchants to benefit from our solutions".
"Global Payments is committed to delivering as much
value as we can to our merchants," said Jordan E.
Cohen, president of Global Payments, Canada. "Enabling
our Canadian customers access to Now Prepay's prepaid
products will give them a wider ranger of services through
the Point of Sale terminal and help contribute to their
profitability."
For more information, or to receive news and updates as
they become available, please contact Samantha Haynes
at 1-800-806-4958 or 604-805-4653 or investment@vendteksystems.com.
About Global Payments Inc. (www.globalpaymentsinc.com)
Global Payments Inc. (NYSE:GPN) is a leading provider
of electronic transaction processing services for consumers,
merchants, Independent Sales Organizations (ISOs), financial
institutions, government agencies and multi-national corporations
located throughout the United States, Canada, Latin America
and Europe. Global Payments offers a comprehensive line
of processing solutions for credit and debit cards, business-to-business
purchasing cards, gift cards, check guarantee, verification
and recovery including electronic check services, as well
as terminal management. The company also provides consumer
money transfer services from the U.S. and Europe to destinations
in Latin America, Morocco, the Philippines and India.
For additional information about the company and its services,
visit www.globalpaymentsinc.com.
About VendTek and Now Prepay (
www.vendteksys.com / www.nowprepay.com)
VendTek Systems Inc. develops and licenses eFresh™
software and related technologies, which provides electronic
distribution of prepaid telecommunication and financial
services. VendTek is commercializing the eFresh™
software under license to create sustainable and recurring
revenues. VendTek's customers and its subsidiaries,
Now Prepay Corp. (in Canada) and VendTek Systems Technologies
(in China), are using eFresh™
software to build electronic, prepaid services networks
which enable consumers to purchase prepaid services
via POS and self-serve terminals connected to a central
eFresh™
server. This system creates significant value through
improved efficiencies compared to the traditional distribution
paradigm. eFresh™
reduces shrinkage and inventory requirements while improving
consumer access to prepaid services since it is completely
electronic and eliminates physical cards and vouchers.
|
The TSX Venture Exchange has
not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
|
|
