SAN DIEGO, CA, Dec. 7, 2015 /PRNewswire/ - SmartCard Marketing Systems, Inc. (SMKG:OTC) a financial services company focused on serving the global payments industry ("SmartCard" or the "Company"), today announced that it has initiated a $5 million USD private placement offering solely to accredited US investors (the "Offering") under Rule 506(c) of Regulation D promulgated by the SEC under the Securities Act.
The Company will use the proceeds from the Offering to conclude a proposed merger with CT-Payment and finance the growth of the new group. The new SmartCard company, including CT-Payment Inc. the largest independent processor for debit and credit EMV transactions in Canada, is focused on American and Asian markets with growth being driven by Issuer & Acquirer Banks & Telecom clients requiring EMV Payment solutions with multiple Card network acceptance processing for their Retail & Enterprise merchants. The corporation will take advantage of development and technical expertise of CT Payments resulting in a Card-present & Card not present product offering to create a powerful EMV Host solution to be the center point of the combined companies' strategy to accelerate EMV Devices for Wireless & Mobile.
About SmartCard Marketing Systems Inc. (OTC: SMKG)
SmartCard Marketing Systems Inc. develops EMV Payment, Check21, Mwallet & Incentive solutions for Issuer & Acquirer Banks, Telecom & Global Enterprise with Retail and Ecommerce Merchant portfolio. SmartCard enables their channel by bringing their merchants the best available technology enabled Multi-OS devices and E-commerce in a licensing & transaction based SAAS model that solves Interoperability, Scalability, Compliance and Best Practice standards. www.smartcardmarketingsystems.com
About CT-Payments Inc.
CT-Payment (CTP) has been setting the pace in electronic POS transaction since 2002. It is North American leader in EMV compliant payment services and is Canada's largest debit- and credit-card processing company to be fully independent of Canadian financial institutions and acquirers. As a member of Interac® and a debit acquirer, CT-Payment delivers integrated debit authorization and settlement services on behalf of its customers and business partners. As an experienced multi-acquirer service provider, CTP offers transaction processing for point-of-sale debit and credit terminals, customized web-payment integration solutions, and the management of loyalty programs. CT-Payment further specializes in the development of platforms for emergent technology in the Global payment-processing ecosystem. It fully complies with PCI international security standards. To find out more: www.ct-payment.com.
Forward Looking Statements
Certain of the statements included in this press release, which express a belief, expectation or intention, as well as those regarding future financial performance or results, or which are not historical facts, are "forward- looking" statements as that term is defined in the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. The words "expect", "plan", "believe", "anticipate", "project", "estimate", and similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance or events and such statements involve a number of risks, uncertainties and assumptions, including but not limited to industry conditions, regulatory changes, general economic conditions, interest rates, competition, and other factors. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish re·pub·lish tr.v. re·pub·lished, re·pub·lish·ing, re·pub·lish·es 1. To publish again. 2. Law To revive (a libel or a canceled will). revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
About Capital Services Group
Based in San Diego, California, Capital Services Group was formed to provide emerging growth companies with resources and support to more efficiently access growth capital and investor support, including investment packaging, direct public offering, shareholder communications and a planned online investor marketplace. For more information, visit www.capservegroup.com.
SOURCE Smart Card Marketing Systems Inc (SMKG)