SmartCard Marketing Systems Inc. (PINKSHEETS:SMKG) Announces its Partner, Soluspay, Signs Letter of Intent for Virtual Wallet and Prepaid Card Program with Union of Turkish World Municipalities
SAN ANTONIO, TX, Oct. 26, 2012 /PRNewswire/ - The Company announced today the signing by its Turkish Licensed Partner, Soluspay, an LOI with the Union of Turkish World Municipalities (TDBB), a non-profit coalition of 1,024 cities that combine to promote a) the protection of historical and cultural heritage, b) common solutions to city administration problems and c) discussion of urban management best practices.
Soluspay is being requested to provide member cities a common Turkish lira-based virtual wallet, prepaid debit card platform and payment processing capability to handle various municipal payments, including payroll, utility payments and online payments. The LOI calls for a Definitive Agreement to be worked out by the beginning of 2013.
Mr. Sertac Ozinal, President of Soluspay, said that the TDBB members share a cultural heritage and that co-operation, especially in the economic and technical fields allows their members to share information on these issues and use new technologies to their mutual advantage.
SMKG President Bruce Baillio said "Soluspay continues to provide innovative payment solutions to Turkey and the surrounding region. We are very pleased to partner with someone of Mr. Ozinal's experience and professionalism. This opportunity builds on the momentum of Soluspay's major project with Fenerbahce Sports Club in Istanbul announced earlier this month."
Mr. Ozinal further commented, "Smartcard has the unique combination of technology and experience in the prepaid industry to help Soluspay build a strong prepaid business platform in Turkey."
About SmartCard Marketing Systems Inc.
The company is leading the way with its proprietary Velocitymoney™ payment gateway services to small and medium size merchants in the online money remittance and prepaid debit card market.
Velocitymoney™ enables merchants the integrated management of their Client Profiles, ACH, EFT, Bill Pay, Email Pay, and Credit Card processing services from various financial institutions and processors worldwide combined.
We seek safe harbor.
SOURCE Smart Card Marketing Systems Inc (SMKG)