Freeport Capital Inc.(CNSX: FAS) Hybrid PayTech & Cardtek Group Sign Partnership Agreement for Joint Mobile Enabled Payment Solution Leveraging Both Companies Technologies
MONTREAL, June 21, 2013 /PRNewswire/ - Cardtek Group and Freeport Capital Inc (Hybrid Paytech) are pleased to announce that they have reached an agreement for the design, development, and deployment of a mobile and e-commerce payment platform, to service Turkish and other EMEA markets, leveraging this platform to expand into the international territories, in which Cardtek Group has market presence.
The agreement covers tailoring the payment system and hardware, to accommodate the existing capabilities, and add full mobile payment functionality to the existing platforms of Cardtek Group's EMV Level2 Kernel customers.
EMV Level2 Kernel Library is a middleware application, between the terminal application and terminal operating system using the terminal API's. " It is abstracted from the operating system and the terminal application, so it can be adapted to any terminal operating environment easily" said, Erdal Yazmaci, the Chief Marketing Officer of Cardtek Group.
"Hybrid shall set up an interoperable solution to connect to Cardtek Group, to allow flow through authorization and payment acceptance using Cardtek Group's chosen acquiring and processing relationship, as defined by Cardtek Group. Cardtek Group shall make available their API to Hybrid for connectivity and then Hybrid will integrate on behlaf of Cardtek Group. Cardtek Group and Hybrid have also agreed to develop, test, and integrate the online gateway environment with the access key provided to Cardtek Group by their chosen financial partner" said, Massimo Barone, COO and the Founder of Hybrid PayTech.
About Cardtek Group
Cardtek Group, based in Istanbul, Turkey was founded in 2001 as a software provider for Turkish banks and entered the payment systems industry during the transition period in Turkish banking. Having quickly achieved success with its specialized staff, technical expertise and focused R&D processes, the company became a leader in EMV and chip & pin technology. Extending services to card payment systems in 2006 the company gained international recognition and was certified by MasterCard in 2010. Cardtek USA was formed in 2011 and a technology support group was opened in Chicago in 2012, to support new and existing customers in the US and Canada. Cardtek Group now has offices in 6 countries supporting a broad EMV product portfolio, as well as Cardtek Academy, for EMV training and consultancy, and Phaymobile the company's rapidly growing mobile payments group.
About Freeport Capital Inc (CNSX:FAS)
A subsidiary of Freeport Capital Inc. (CNSX: FAS) based in Montreal, Canada, with satellite offices in the USA, Dominican Republic, Philippines and Hong Kong - Hybrid Paytech is a technology leader in the mobile payment space with its proprietary Hybrid Multi-OS App's allowing use with MSR and EMV Credit and Debit acceptance. With a global footprint, Hybrid is an enabler of easily-deployable payment systems focusing on authentication, security and quick merchant adoption for "on the go" fleet, delivery, logistics and retail merchants.
The Canadian National Stock Exchange (CNSX) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy. This news release does not constitute a solicitation to buy or sell any securities in the United States
SOURCE Freeport Capital Inc.