VendTek Corporate Update
VendTek to launch electronic parking payments in 2013
2012-11-19 10:27 AT - News Release
Ms. Samantha White reports
VENDTEK CORPORATE UPDATE NOVEMBER 2012
VendTek Systems Inc. earns revenues each time a transaction is processed through the company's eFresh transaction platform. Over the past year, VendTek has added the following markets and products.
Brazil
VendTek recently announced it has signed an agreement with Petrobras Distribuidora, the country's largest network of gas stations, to deploy eFresh into its more than 7,000 retail outlets. The company has started installations after conducting information and training sessions with station owners/managers in Sao Paulo. To date, the company has 300 locations installed and is expanding into Rio de Janeiro, Goias, Minas Gerai and Esperitos Santos.
The company is seeing a strong improvement in the key performance indicators (number of transactions per terminals, percentage of transacting terminals, value per transaction) of the independent convenience store locations already installed. The company has distribution agreements to deploy eFresh into more than 13,000 locations.
In January, the company expects to launch a new product for parking payments covering 36,000 parking locations in Sao Paulo. VendTek has been chosen to equip approximately 3,000 merchants with electronic terminals and replace the scratch card system with electronic transactions. Once fully launched, the company expects to process nearly 2.3 million transactions each month. The locations will also be able to sell the company's full portfolio of products.
Afghanistan
VendTek recently announced that it has signed an eFresh licence agreement with Roshan, Afghanistan's leading communications provider with more than six million customers. Initial transactions were hosted on the Canadian server using VendTek's software-as-a-service model (where the server is operated and maintained by VendTek in Canada). In August, the operations were migrated over to Roshan's eFresh server based in Kabul. The number of distribution points has more than doubled to more than 600 over the past six weeks.
United Arab Emirates
One Prepay (the company's customer in the United Arab Emirates) has recently hit peak monthly transactions and will be adding new products over the next two quarters.
Additional countries
eFresh is now in Sudan, Lebanon, Ghana and Nigeria. In Sudan and Lebanon, eFresh is operating on a local server, while in Ghana and Nigeria, eFresh runs on VendTek's SaaS model.
Canada
VendTek's Now Prepay division in Canada has started selling Koodo (a Telus company) products through most of its locations.
The company is now able to offer products from most of the new wireless entrants (Wind Mobile, Mobilicity and Public Mobile).
New products
The company has recently launched two new products: Paysafe Paysafecard and iSend. Paysafecard is Europe's first prepaid solution for Internet payment (digital currency) and has grown into one of the leading alternative on-line solutions for payment. Paysafecard is accepted by more than 3,500 e-commerce sites and makes Internet payments as simple as using cash.
iSend is a leading U.S. electronic payment service for people who support family members and friends in other countries. Customers control the use of the funds they transfer, including instant top-up of family members' prepaid cellphones, paying recurring monthly bills and sending gift cards for merchandise at specific stores.