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Service Available at 14,000 Distribution Points Throughout Canada
Newton, MA, and US Port Coquitlam, British Columbia, Canada - June 24, 2008
MoreMagic Solutions, a leading mobile payments platform provider, and VendTek Systems (TSX-V: VSI), a leading provider of automated transaction software, have signed a distribution agreement to offer international recharge of mobile phones using the MoreMagic Solutions platform and VendTek's Now Prepay network. Customers in Canada are now able to purchase mobile phone top ups from international wireless carriers, adding value to the mobile phones of family and friends in the Caribbean, Latin America, Pakistan and India.
With MoreMagic Solutions International Recharge, retailers on VendTek's Now Prepay network are able to broaden their customer base beyond traditional prepaid customers, since recharges are offered for mobile customers in a broad array of countries. The transaction can be completed in seconds, allowing the recipient to access the value added to their mobile phone immediately.
According to Citizenship and Immigration Canada, with research from Statistics Canada, from 1980 to 2006 Canada became home to 4.8 million immigrants, or 15.2% of the total population, with an average of 178,000 arriving yearly.
"Customers throughout Canada are now able to recharge any mobile phone, choosing from a broad list of mobile operators around the world, using the MoreMagic Solutions platform and the VendTek Now Prepay network," said Pankaj Gulati, Chairman and CEO, MoreMagic Solutions. "The first call the customer will receive is likely to be a thank-you call, as the credit becomes immediately available to the friend or family member back home. In addition, international roamers can recharge their prepaid accounts at any of the Now Prepay locations."
"We are very pleased to partner with MoreMagic Solutions and offer their suite of international mobile phone recharge products to our 14,000 distribution points in Canada. The retailers on our network will benefit from this new suite of products because the products will attract a broader clientele to their stores," said Doug Buchanan, President and CEO of VendTek.
MoreMagic Solutions
With deployments in more than 30 countries worldwide, MoreMagic Solutions offers mobile payments platforms for mobile operators, content providers, distributors, and banks, enabling consumers to purchase goods and services on demand using a mobile phone or the web. MoreMagic's high-throughput payment engine and pre-packaged applications enable customers to offer new revenue-generating services, including Mobile Payments, Mobile Banking, and Mobile Money Transfers. MoreMagic also offers a hosted solution to facilitate managed service business models as an alternative to system purchase. (www.moremagic.com)
VendTek Systems
VendTek develops and licenses automated transaction system software that improve the efficiency of product delivery, reduce costs to clients and offer superior safety measures. VendTek's customers and its division, Now Prepay Corporation, use e-FreshTM software to build prepaid services networks, with POS and self-serve terminals connected to a central e-FreshTM server. e-FreshTM reduces shrinkage and inventory requirements while improving consumer access to prepaid services by completely eliminating physical cards and vouchers. (www.vendteksys.com and www.nowprepay.com).
Contact:
Samantha Haynes
VendTek Systems
604-805-4653
1-800-806-4958
shaynes@vendteksys.com
Carol J. Meier
MoreMagic Solutions
+1 617-244-1598 x128
cjmeier@moremagic.com