2013-03-05 22:09:01 -
Vancouver, British Columbia CANADA, March 05, 2013 /FSC/ - VendTek Systems Inc. (VSI - TSX Venture), ("VendTek" or the "Company"), a global transaction processing company, and Canadian Tire Petroleum, one of Canada's largest independent gasoline retailers, are pleased to announce that they have renewed their pre-paid products and services agreement originally signed in 2006.
Under the agreement, Vendtek will use the e-Fresh(tm) software to provide Canadian Tire Petroleum (CTP) with a wide range of prepaid products and services that will be sold to CTP's customers. The e-FreshTM system reduces shrinkage and inventory requirements for CTP while improving consumer access to prepaid products and services by completely eliminating physical cards and vouchers.
"Canadian Tire Petroleum has been an excellent customer
of ours for many years. During that time, we have expanded the number and types of products available in all the Canadian Tire Petroleum locations, something that will continue in the future", said Doug Buchanan, President and CEO of VendTek. "Canadian Tire Petroleum has been working hard to improve the customer experience in its gas stations and convenience stores, and we are pleased to be supporting these efforts"
"Continuing our relationship with VendTek and its division Now Prepay attests to the strength of our partnership to date," said Josh Denes - Marketing Manager of Convenience Business at Canadian Tire Petroleum. "Over the past seven years, we have achieved and exceeded our pre-paid business target while eliminating inventory risks. Through this partnership, we are providing our network of independent retailers with a reliable and easy to use system"
The range of products offered to Canadian Tire Petroleum's 300 independent gasoline retailers includes wireless, long distance, gift cards, and prepaid financial products.
For more information please contact Samantha White at 604-805-4653 or 1-800-806-4958 or firstname.lastname@example.org
About Canadian Tire Petroleum
Canadian Tire Petroleum is one of Canada's largest independent gasoline retailers with 300 gas bars, and 80 car washes. Canadian Tire Petroleum pumps more than 1.8 billion litres of gasoline each year. A typical Canadian Tire service station pumps twice as much gas per day as the industry average.
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.
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Source: VendTek Systems Inc. (TSX-V VSI) www.vendteksys.com
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