2014-03-04 22:05:10 -
Vancouver, British Columbia CANADA, March 04, 2014 /FSC/ - VendTek Systems Inc. (VSI - TSX Venture), (the "Company" or VendTek"), a developer and licensor of software for the global pre-paid telecom and financial services markets is pleased to announce that its wholly owned Brazilian subsidiary, Now Prepay Servicos de Informatica Ltda. ("NPS"), has launched a new product in partnership with VIVO, "Vivo Insurance".
Vivo SA is an operator of mobile telephony, fixed telephony, broadband Internet and cable TV and is owned by Telefonica. Of the four major carriers, Vivo SA has the largest market share in Brazil.
Vivo Insurance is a new product targeting Vivo's 77 million mobile customers. Users who buy mobile pre-paid credit will be able to add
a health insurance feature to their purchases. The insurance feature is sold as a "package" bundled with mobile pre-paid credits and also enables participation in the Federal lottery.
According to a 2011 report commissioned by the Brazilian Insurance Industry Association, there were in excess of 40 million people without any insurance in Brazil in 2009. The target market for micro-insurance was estimated to be 128 million people at that time.
Customer benefits of Vivo insurance also include:
* The ability to participate in the monthly Federal Lottery;
* Compensation to the family in case of accidental death of the purchaser;
* The value of the insurance purchased is automatically added to the customer's account as a "bonus" to be used for local Vivo to Vivo phone calls.
Now Prepay Brazil is now selling Vivo Insurance in more than 2,800 points of sale in its network. This exciting new product increases the number of products in NPS's portfolio strengthening our relationships with our merchants. The product is currently limited to only a few trusted distributors across the country giving NPS an additional competitive advantage.
"This agreement represents an excellent opportunity to capitalize on the growth of a new micro-insurance product in the market. Vivo is an innovative company that has the ability to put significant sales and marketing power behind new sales initiatives and product launches," said Doug Buchanan, President and CEO of VendTek Systems Inc. "We are ideally positioned to benefit from this unique new product"
For more information please contact Samantha White at 604-805-4653 or 1-800-806-4958 or email@example.com
VendTek develops and licenses automated transaction system software and supporting technologies. VendTek's customers, subsidiaries and its Now Prepay division use e-Fresh(tm) software to build electronic, prepaid services networks that enable consumers to purchase prepaid products and services via POS and self-serve terminals connected to a central server. This system creates significant value through improved efficiencies compared to a traditional distribution model. e-Fresh(tm) reduces shrinkage and inventory requirements for vendors while improving consumer access to prepaid products and services by completely eliminating physical cards and vouchers. VendTek has deployed its software around the world including Canada, United States, Asia, the Middle East and Africa. For further information please visit the Company's websites www.vendteksystems.com and www.nowprepay.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the press release as a PDF, please click on the following link:
Source: VendTek Systems Inc. (TSX-V VSI) www.vendteksys.com
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