SmartCard Marketing Systems Inc. (Velocitymoney.com) Signs Private Label Bill Payment Services
SAN ANTONIO, Apr 30, 2008 (www.AllPayNews.com) -- As Stated by SmartCard Marketing Systems Inc., leading provider of prepaid cards, stored value cards and transaction processing services, is pleased to announce entering into a Private Label agreement with Payment Data Systems of San Antonio, TX (OTCBB:PYDS), an integrated electronic payments solutions provider, to add PYDS' bill payment services to its VelocityMoney.com financial platform. This will provide the ability for VelocityMoney.com account holders to pay their bills online to over 3,200 nationwide billers.
Bruce Baillio, President of SMKG said, "This is a natural addition to the VelocityMoney.com financial services portal and a natural evolution in our relationship with Payment Data. We are already partnering with Payment Data to market globally-branded, prepaid debit cards and to resell their merchant credit card acquiring services. This new service makes our portal even more robust." Mr. Baillio further stated, "It was important for VelocityMoney customers to be able to pay anyone and to be able to pay from any bank account. We chose Payment Data's bill payment platform due to their ability to implement in four weeks or less and that their platform is bank independent. We were excited to learn that the system is flexible enough to allow for multiple payment accounts including checking, savings, investment accounts and prepaid debit cards. We also took comfort in knowing that Payment Data's offering is fully licensed under US Patent 7,021,530 that relates to bill payments made with debit and stored value cards.
The bill payment services that will be available on VelocityMoney.com will allow enrolled account holders to make approved payments to anyone twenty-four hours a day, seven days a week. Users will be able to schedule one-time payments or set up recurring payments, initiate account to account transfers and reload their prepaid debit cards all from the VelocityMoney.com bill payment system. "This is in addition to the capabilities of the VelocityMoney.com online account that allows a user to send payments or remittances from their online account to anyone in the world." Mr. Baillio stated." About VelocityMoney.com VelocityMoney.com is an established Money Service provider for payment gateway services for merchants and consumers that require an integrated solution for processing of funds, remittances, credit cards and PIN debit cards over the Internet. For more information visit www.velocitymoney.com.
About Payment Data Systems, Inc.
Payment Data Systems is an integrated payment solutions provider to merchants and billers. The organization provides an extensive set of products to deliver world-class payment acceptance. Payment Data has solutions for merchants, billers, banks, service bureaus and card issuers. The strength of the company is its ability to offer specifically tailored solutions for card issuance, payment acceptance and bill payments.
Website: http://www.paymentdata.com FORWARD-LOOKING STATEMENTS DISCLAIMER Except for the historical information contained herein, the matters discussed in this release include certain forward-looking statements, which are intended to be covered by safe harbors. Those statements include, but may not be limited to, all statements regarding our and management's intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, the factors detailed from time to time in our filings with the Securities and Exchange Commission. One or more of these factors have affected, and in the future could affect, our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. We believe that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, except as required by law.
Source: SmartCard Marketing Systems Inc.
CONTACT: Michael Long, for Investor Relations Tel: +1 210 249 4040 e-mail: firstname.lastname@example.org