June 8, 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 now reached the 7,000 merchant location milestone
in Canada.
This is a further confirmation of the success of eFresh™
Software for VendTek which entered the business of providing
software for the prepaid telecommunications and financial
services industries in 2002 and has continued to build
its network of POS terminal clients in Canada through
Now Prepay.
Paul Brock, President of VendTek said, "The 7,000
eFresh™
clients deployed milestone is just another step along
the way to capturing the Canadian market. Our recently
announced partnership with a major processor in Canada
combined with our numerous other partners should ensure
continued growth of our business."
"We are now providing over 7,000 merchant locations
with our products and services and each one of them is
benefiting. We have several new services that we plan
on adding in the months to come and we are looking forward
to hitting the next milestone of merchant locations,"
said Doug Buchanan, President of Now Prepay.
For further information, please contact Samantha Haynes
at 604.805.4653 or 1-800-806-4958 or investment@vendteksys.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.
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not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
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