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VENDTEK SYSTEMS INC V.VSI

"VendTek Systems Inc develops, markets, and licenses automated transaction system software and supporting technologies. Its software product, eFresh provides electronic distribution infrastructure to service providers, retailers and retail distributors."


TSXV:VSI - Post by User

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Post by Gladys7on Jul 28, 2011 6:30pm
170 Views
Post# 18885259

News Release

News Release

JULY 28, 2011
For Immediate Release
Contact:
Samantha White
swhite@vendteksystems.com

VENDTEK SYSTEMS ANNOUNCES

PARTNERSHIP WITH USEMYSERVICES TO ISSUE

PREPAID 3V VISA AND UKASH VOUCHERS

VANCOUVER - July 28, 2011 - VendTek Systems Inc. (VSI - TSX Venture) (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 . 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 and .

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

416-822-3633

www.UseMyServices.com



Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is

defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


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