Smart Card Marketing Systems and New Card Secured Canada ink co-branding deal
13 July 2006 | 2133 views | 0
Source: Smart Card Marketing Systems
Smart Card Marketing Systems, Inc. (Other OTC:SMKG.PK) (Frankfurt:QYH.F), a leading loyalty provider of prepaid cards, value smart storage cards and payment transaction management services, announced today that they have signed NCSC New Card Secured Canada, Inc. to a co-brand secured Mastercard distribution agreement.
NCSC New Card Secured Canada, a Canadian based company, has signed a commitment for five thousand (5,000) co-branded Mastercard secured cards for the Canadian market and one thousand (1,000) cards for the US market. Smart Card will benefit from the sale of the cards with a royalty on transactional based revenue generated by active cards. The total estimated value of the revenue generated by the cards, according to industry standards, will be between $225,000 and $375,000 per year ($45 to $75 per card per year). This figure does not include revenue from the initial purchase or from activation fees for the US cards which is split 65/35 with the distributor.
The secured credit card is a revolutionary new product that will allow credit challenged consumers and immigrants the opportunity to re-establish or create a better credit score to improve their chances for future financing. The secured credit card market is very new in Canada as many of the major financial institutions have not yet targeted this niche opportunity.
Mr. Mario Cloutier of NCSC New Card Secured Canada, Inc. stated, "We are very pleased with the agreement and we believe that the secured cards will make a profitable addition to our existing product offerings."