E-Debit Global Corporation (OTC.BB: WSHE.PK) announces the development of E-Debit International Inc.'s "Smart Grid" secured Card-Not-Present payment process.
With our previously announced EMV SCD Code certifications (the payment and security standard for interoperation used for authenticating credit and debit card payments at chip enabled terminals developed for payment systems by Europay, MasterCard and Visa and introduced by the Interac Network) we are now moving our focus to expanding our business development to the "Card-Not-Present" wireless and Internet market place utilizing our EMV experience. stated Doug Mac Donald, E-Debit's President and CEO.
Although technically challenging we are using our successful transition to the EMV standard to establish the E-Debit International Inc. "Smart-Grid" Card-Not Present payment process. With the number of payment cards in circulation in Canada currently at 112 million, and expansion of the Canadian card marketplace predicted to reach 124.5 million by 2016, (according to "Companiesandmarkets.com" a report and research aggregator) our focus will be to allow fully secured and network accessible payment processing for the "Card-Not-Present" marketplace.
E-Debit has established an unparalleled "end-to-end" payment delivery and processing solution built on the foundation of its ATM and POS networks experience. Our footprint within our ATM and POS and our investments into securing state of the art technological expertise and security will allow us to utilize our E-Debit economies of scale allowing for cost effective technical development and speed in facilitating the standardization of our payment platforms and consolidation of hardware components and human resources.
In addition, our investments into securing state of the art technological expertise with our equity stake in ebackup Inc. has allowed E-Debit economies of scale allowing for cost effective technical development, speed in facilitating the standardization of our payment platforms and consolidation of hardware components and human resources.
We have worked very hard at building a supporting infrastructure to underpin our payment platform development at a significant cost to the Company. I am excited about the potential that is presently in front of us not only in our historic business lines, but in the "Card-Not-Present" payment processing and prepaid, debit and credit business space originating in North America and expanding worldwide. Our expectations reflect our historic residual revenue experience with the ATM/POS replacement and anticipate similar returns on our efforts of the past several years added Mr. Mac Donald.