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Smart Card reports Canadian cheque processing services contract

21 June 2006  |  2030 views  |  0 Source: Smart Card Marketing Systems

Smart Card Marketing Systems, Inc. (Other OTC:SMKG.PK) (Frankfurt:QYH.F), a leading provider of prepaid cards, value smart storage cards and payment transaction management services, announced today that they have signed an agreement with a leading edge Canadian Financial Services company to provide backend administration and check processing services.

The financial services company, which is based in the province of Quebec, provides check remittance services. According to the agreement, Smart Card will act as the company's exclusive provider of backend administrative check processing functions such as imaging, scanning and centralized deposit services.

Smart Card's centralized processing service coupled with their revolutionary VelocityMerchant data management service allows companies or merchants to direct all incoming payments to a central designated location. Smart Card's cutting edge backend software system then processes the customer's data and fulfills their business needs. Smart Card will benefit financially from this agreement by receiving revenue that is generated from both item and batch processing fees. With the addition of this new agreement, Smart Card will come close to obtaining a level of one thousand items processed daily.

Smart Card CEO Massimo Barone stated, "This agreement puts Smart Card in a very competitive position in the check processing industry in North America. We are now looking to aggressively pursue leads in foreign markets where companies and merchants are looking for more efficient methods to handle backend administration and money remittance."

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