|
June 16, 2008 - VendTek Systems Inc. (TSX-V:
VSI) ("VendTek" or "The Company"),
a leading provider of automated transaction systems
software, is pleased to announce that it has signed
a distribution agreement with MoreMagic Solutions Inc.
("More Magic") a global provider of International
and Roaming Recharge Solutions.
Customers in Canada will now be able to purchase mobile
phone top ups (recharge) from international wireless
carriers allowing them to add value to the mobile phones
of family, friends or associates in the Caribbean, Latin
America, Pakistan and India from VendTek retailers across
Canada.
This is a new value added service for VendTek through
its Now Prepay network and broadens the customer base
from traditional prepaid customers for the retailers
on our network. The transaction can be completed in
seconds, allowing the recipient to access the value
added to their mobile phone immediately.
According to a March, 2004 published report by the International
Policy Coordination and Immigration ("CIC")
with Research from Analysis and Research Division Canadian
International Development Agency ("CIDA"),
from 1980 to 2001, Canada became home to 3.9 million
immigrants, or 12% of the total population, with an
annual average of 180,000 arriving yearly. The source
countries examined, on the basis of last permanent residence
were El Salvador, Guatemala, Honduras, Nicaragua, Jamaica,
Trinidad & Tobago, Barbados, Grenada, Cuba, Dominican
Republic, Haiti, Mexico, Guyana and Colombia. Between
1980 and 2001, immigrant flows including refugees, from
these 14 countries totaled 369,641 persons.
"Customers throughout Canada are now able to recharge
their friends and families mobile phone, choosing from
a broad list of mobile operators that use MoreMagic
MTopUp solution around the world, at the VendTek Now
Prepay network locations," said Pankaj Gulati,
Chairman and Chief Executive Officer, MoreMagic Solutions.
"The first call the customer will receive is likely
to be a thank-you call, as the credit becomes immediately
available to their friend or family member back home.
In addition, with prepaid roaming now available, roamers
from international locations can recharge their prepaid
accounts at any of the Now Prepay locations."
"We are very pleased to partner with More Magic
and offer their suite of international mobile phone
re-charge products to our 14,000 distribution points
in Canada. The retailers on our network will benefit
from this new suite of products because the products
will attract a broader clientele to their stores,"
said Doug Buchanan, President and Chief Executive Officer
of VendTek.
For more information please contact Samantha Haynes
at 604-805-4653 or 1-800-806-4958 or investment@vendteksystems.com.
About MoreMagic Solutions
With deployments in more than 30 countries worldwide,
MoreMagic Solutions offers electronic payments platforms
for mobile operators, content providers, distributors,
and banks, enabling consumers to purchase goods and
services on demand using a mobile phone or the web.
MoreMagic's high-throughput payment engine and pre-packaged
applications enable customers to offer new revenue-generating
services, including Mobile Payments, Mobile Banking,
and Mobile Money Transfers. MoreMagic also delivers
its solutions in a secure, hosted, and fully managed
environment to facilitate managed service business models
as an alternative to system purchase. For further information
please visit www.moremagic.com.
About VendTek
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 division, Now Prepay, and its subsidiaries
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 websites www.vendteksys.com
and www.nowprepay.com.
The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy
of this release.
|