TSX Venture Exchange: VSI
VANCOUVER, July 28, 2011 /CNW/ - VendTek Systems Inc. (TSX Venture: VSI) (the "Company"), a developer and licensor of software for the global prepaid and financial services markets, is pleased to announce that the Company has partnered with UseMyServices, Inc. to distribute 3V Visa prepaid vouchers and Ukash vouchers online through www.UseMyCard.com. 3V Visa prepaid vouchers are issued by Peoples Trust pursuant to a license by Visa.
UseMyCard.com will offer consumers an ever-expanding array of prepaid product offerings that can be instantly purchased using their online bank account from anywhere UseMyServices offers online bank payments.
"The partnership is another example of our ongoing efforts to provide increased access to prepaid products," said Doug Buchanan, President and Chief Executive Officer of VendTek Systems Inc. "We continue to see that the financial services market is evolving. There are more and more ways to pay for products and services today. We are continuing to offer additional payment options."
Over the past decade, the prepaid market has grown substantially and evolved with increasing complexity. With VendTek's partnership with UseMyServices, the experienced online payment provider company, customers now have a convenient solution to turn money into electronic money directly from their bank account effectively reducing the complexity and allowing new and existing markets to expand beyond the traditional brick-and-mortar cash points.
Today consumers visit UseMyCard.com's secure online website to purchase 3V Visa prepaid vouchers and Ukash vouchers directly with their online bank account and receive their voucher by email. These vouchers can then be used to shop and pay for online purchases through a completely safe and convenient online electronic transaction.
"We are pleased to be working with VendTek and look forward to further accelerating the growth of the prepaid market online," said Brian Crozier, Global Business Development, UseMyServices.
For more information please contact Samantha White at 604-805-4653 or 1-800-806-4958 or investment@vendteksystems.com.
About VendTek
VendTek develops and licenses automated transaction system software and supporting technologies. VendTek's customers, subsidiaries and its Now Prepay division use e-Fresh™ 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™ 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.
About UseMyServices:
Established in 2002, UseMyServices is the first company to bring together e commerce and online banking with a proprietary platform that allows online banking customers to pay for their ecommerce purchases in real time using their own bank account. Unlike bank drafts, wires, EChecks or ACH - UseMyFunds' real time transfer means that customers making a purchase online can be credited immediately for their purchase.
Brian Crozier
Global Business Development
brian@usemyservices.com
416-822-3633
www.UseMyCard.com
www.UseMyServices.com
For further information:
Samantha White at 604-805-4653 or 1-800-806-4958 or investment@vendteksystems.com
