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TAMPA, FL - October 24, 2007 -nFinanSe
Inc. (OTC Bulletin Board: NFSE) today announced that
it has signed a distribution agreement to provide nFinanSe™
Discover® Network Reloadable Prepaid Cards and Gift
Cards to Now Prepay, a division of VendTek Systems Inc.
(TSXV: VSI). Now Prepay has been created specifically
to commercialize VendTek's e-Fresh Electronic Distribution
Technology within North America.
According to nFinanSe's Vice President of Retail Sales,
Karen P. Sobie, "Our agreement with Now Prepay
enables us to offer our demonstrably superior and pleasingly
different reloadable prepaid cards and gift cards to
an additional distribution channel of merchant acquirers
and Independent Sales Organizations, or ISOs, throughout
the United States. These organizations provide payment
processing for a variety of medium-to large-sized merchants
that are mostly in the retail, petroleum, grocery and
hospitality industries."
"We are extremely pleased to partner with nFinanSe
and offer their service on our network. The nFinanSe
Discover® Network Cards provide our retailers with further
diversified product offerings. We look forward to working
with nFinanSe," said Doug Buchanan CEO of VendTek.
"VendTek is one of the largest prepaid distributors
in Canada. We are very excited to be working with them
as they expand their footprint into the United States
market," closed Ms. Sobie.
About nFinanSe Inc.
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nFinanSe Inc. is an innovative financial
services company and provider of stored value and
prepaid card solutions headquartered in Tampa, Florida.
nFinanSe has developed the nFinanSe Network, a secure,
reliable, point of sale (POS) and PC based software
platform that connects retail merchants with multiple
stored value prepaid card processors and issuing
banks. nFinanSe owns and operates the nFinanSe Network
as a standardized, national network of stored value
and prepaid card cash load stations located throughout
the United States. |
About VendTek Systems Inc.
VendTek develops and licenses automated transaction
system software and supporting technologies that improve
the efficiency of product delivery, reduce costs to
clients and offer superior safety measures. VendTek's
customers and its subsidiary, VendTek Systems Technologies
(in China), are using e-Fresh™ software to build electronic,
prepaid services networks, which enable consumers to
purchase prepaid services via POS and self-serve terminals
connected to a central e-Fresh™ server. This system
creates significant value through improved efficiencies
compared to the traditional distribution paradigm. e-Fresh™
reduces shrinkage and inventory requirements while improving
consumer access to prepaid services by completely eliminating
physical cards and vouchers. For further information
please visit the Company's website www.vendteksys.com.
| "Safe Harbor" Statement
under Private Securities Litigation Reform Act of
1995 |
| This press release contains certain
forward-looking statements based on nFinanSe Inc.'s,
or the Company's, current expectations, forecasts
and assumptions that involve risks and uncertainties.
Forward-looking statements include statements regarding
the Company's expectations, beliefs, intentions
or strategies regarding the future and can be identified
by forward-looking words such as "anticipate,"
"believe," "could," "estimate,"
"expect," "intend," "may,"
"should," "will," and "would"
or similar words and include statements regarding
the planned and/or anticipated benefits to users
of the Company's products and the timing of distribution
of such products. Forward-looking statements in
this release are based on information available
to the Company as of the date hereof. The Company's
actual results may differ materially from those
stated or implied in such forward-looking statements
due to risks and uncertainties associated with the
Company's business, which include the Company's
ability to execute its business strategy and the
other risk factors disclosed in the Annual Report
on Form 10-K for the year ended September 30, 2006
on file with the Securities and Exchange Commission.
The Company assumes no obligation to update the
information included in this press release, whether
as a result of new information, future events or
otherwise. |
Contacts:
Clare J. Morgan
Vice President, Marketing
nFinanSe Inc.
813-367-4400
cmorgan@nfinanse.com |
Samantha Haynes
Corporate Communications & Investor Relations
VendTek Systems Inc.
604-805-4653
shaynes@vendteksys.com |
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