Secured Financial Network completes acquisition of Virtual Payment Solutions

Source: Secured Financial Network

Secured Financial Network (OTC Bulletin Board: SFNL) announced today that is has closed on its acquisition of Virtual Payment Solutions, LLC.

"The acquisition of Virtual Payment Solutions, as a wholly owned subsidiary of SFNL, adds an exciting business dimension," said Jeffrey Schultz, President and CEO of Secured Financial Network. "It provides contracted Internet business portals the ability to transact business, with their client base, through a very secure proprietary electronic-wallet based payment processing system.

"The Internet today is in desperate search for secure environments to transact business with their clients and we know our VPS payment processing platform technology will be the choice of selected Internet merchants."

Virtual Payment Solutions plans to launch its real-time payment processing system by January of 2007. Schultz stated, "Our technology is proprietary in how it operates and has relationships and licenses with additional companies who have pending patents at this time. Our goal is to build a loyal customer base, add valuable client services, and build a recurring revenue stream."

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