2012-11-19 16:19:06 -
eFRESH(tm) Market Update
Vancouver, British Columbia CANADA, November 19, 2012 /FSC/ - VendTek Systems Inc. (VSI - TSX Venture), earns revenues each time a transaction is processed through our eFresh(tm) transaction platform. Over the past year, VendTek has added the following markets and products:
Brazil
. VendTek recently announced it has signed an agreement with Petrobras Distribuidora, the country's largest network of gas stations, to deploy eFresh(tm) into its more than 7,000 retail outlets. We have started installations after conducting information and training sessions with station owners/managers in Sao Paulo. To date, we have 300 locations installed and are expanding into Rio de Janeiro, Goias, Minas Gerai and Esperitos Santos.
. We are seeing a strong improvement in the key
performance indicators (number of transactions per terminals, percentage of transacting terminals, value per transaction) of the independent convenience store locations already installed. We have distribution agreements to deploy eFresh(tm) into more than 13,000 locations.
. In January, we expect to launch a new product for parking payments covering 36,000 parking locations in Sao Paulo. VendTek has been chosen to equip approximately 3,000 merchants with electronic terminals and replace the scratch card system with electronic transactions. Once fully launched, we expect to process nearly 2.3 million transactions each month. The locations will also be able to sell our full portfolio of products.
Afghanistan
. VendTek recently announced that it has signed an eFresh(tm) license agreement with Roshan, Afghanistan's leading communications provider with more than six million customers. Initial transactions were hosted on the Canadian server using VendTek's SaaS model (where the server is operated and maintained by VendTek in Canada). In August, the operations were migrated over to Roshan's eFresh(tm) server based in Kabul. The number of distribution points has more than doubled to more than 600 over the past six weeks.
UAE
. One Prepay (our customer in the United Arab Emirates) has recently hit peak monthly transactions and will be adding new products over the next two quarters.
Additional Countries
. eFresh(tm) is now in Sudan, Lebanon, Ghana and Nigeria.
. In Sudan and Lebanon, eFresh(tm) is operating on a local server, while in Ghana and Nigeria, eFresh(tm) runs on VendTek's SaaS model.
Canada
. VendTek's Now Prepay division in Canada has started selling Koodo (A Telus company) products through most of its locations.
. We are now able to offer products from most of the new wireless entrants. (Wind Mobile, Mobilicity and Public Mobile)
New Products
We have recently launched two new products: Paysafe Paysafecard and iSend. Paysafecard is Europe's first prepaid solution for Internet payment (digital currency) and has grown into one of the leading alternative online solutions for payment. Paysafecard is accepted by more than 3,500 ecommerce sites and makes Internet payments as simple as using cash.
iSend is a leading US electronic payment service for people who support family members and friends in other countries. Customers control the use of the funds they transfer, including instant top-up of family members' prepaid cell phones, paying recurring monthly bills and sending gift cards for merchandise at specific stores.
For further information contact Samantha White at 1-800-806-4958 or 604-805-4653 or
investment@vendteksystems.com
507- 1952 Kingsway Avenue, Port Coquitlam, BC Canada V3C 1S5
tel: 604-944-6999 email:
investment@vendteksystems.com
507- 1952 Kingsway Avenue, Port Coquitlam, BC Canada V3C 1S5
tel: 604-944-6999 email:
investment@vendteksystems.com
To view this press release as a webpage, click onto the link below:
www.usetdas.com/pr/vendtek19112012.htm
Source: VendTek Systems Inc. (TSX-V VSI) www.vendteksys.com
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