VENDTEK SYSTEMS ANNOUNCES ZUUM CONTRACT AWARD IN BRAZIL
(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 27 January 2014
Release date- 24012014 - VANCOUVER - VendTek Systems Inc (TSX-V - VSI), a developer and licensor of software for the global pre-paid and financial services markets, is pleased to announce that its wholly owned Brazilian subsidiary, Now Prepay Servicos de Informatica Ltda. has signed a distribution agreement with Zuum.
Zuum is the first product from Mobile Financial Services ('MFS') - a joint venture between MasterCard Worldwide and Telefonica International which develops mobile payment solutions. Founded in June 2012, the company is dedicated to developing products that will allow payments and transfers between a VIVO mobile phone account and a MasterCard prepaid card.
There are 200 million people in Brazil and of these, 80 million people have no access to banking services.
The Zuum technology can be used to make deposits, transfers, refill credit, and pay bills easily and securely from a mobile phone. Furthermore, clients can obtain a Zuum prepaid card MasterCard from certain retail outlets and link it to their Zuum account, providing access to stores in Brazil that accept MasterCard. None of this requires opening an account or showing proof of income.
Now Prepay supplies its merchants with Zuum cards and, through e-fresh, provides the technical solution required to top-up those cards no matter where they were sold. This creates a convenient reload network readily available to anyone. Merchants can chose between any number of devices to use e-fresh and reload their customers' Zuum cards: POS, tablets, computers, and also Now Prepay's unique, economic and innovative mobile phone solution.
'The mobile payment solutions market is in its infancy in Brazil. Currently only 4.8% of the market uses mobile payment solutions due to a lack of solutions in the marketplace. This new product is backed by MasterCard Worldwide and Telefonica International, giving credibility to the solution and a marketing system to create widespread product awareness,' said Doug Buchanan, President and CEO of VendTek.
Tel: 604-805-4653, 1-800-806-4958
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.
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