EIN News — Smartcard Marketing Systems Inc.(SMKG:PINKSHEETS) announced today that their Prepaid Card loading, Pin Debit and Payment processing volume increased in triple digits to $367,000 USD for the month of September 2008 over September 2007 and over last month, August 2008. The company posted a gain in card loading and payment processing for August upto 10 times larger than last year’s August total and 226% greater than even last month, setting a new payment processing record for the company.
(SMKG:PINKSHEETS) President Bruce Baillio said, “This striking growth is the result of continuing to fill our backlog of prepaid card orders and the launch of our VelocityMoney.com Online Bill Pay service both in Canada and the US. The Canadian market for Online Bill Pay is much less crowded than the US market. The company expects to see exceptional growth in this segment during the next 12 months.
The current uncertainty in the worldwide credit markets is actually stimulating demand for our prepaid products and services. When consumers’ credit lines are decreased, they turn to prepaid cards to maintain the convenience of using a branded card to make purchases, because their credit cards are topped out. (SMKG:PINKSHEETS) is seeking to capitalize on the move from credit to debit transactions at the point of sale and capture a share of the 26.5+ billion (as of 2006) consumer debit transactions.”
We seek safe harbor
Management is determined to become the leader in Online Money Remittance, Prepaid cards and Pin Debit online processing and to set the standard for a secure funds transfer platform with multi-currency settlement capabilities worldwide.”
We seek safe harbor.
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