SmartCard Marketing Systems Inc. (PINKSHEETS:SMKG) Releases Additional Details of Soluspay - Fenerbahce Sports Club Prepaid Card Program
SAN ANTONIO, TX, Oct. 24, 2012 /PRNewswire/ - Smartcard Marketing Systems released today a correction from an earlier press release and additional information about its recently signed deal between its Turkish distributor Soluspay and Fenerbahce Sports Club in Istanbul. Last week's press release mistakenly under-reported Fenerbahce's fan base. It is the largest sports club in Turkey with over 25 million fans and supporters, not the 5 million that was stated last week.
The Company also explained that Fenerbahce anticipates selling up to 1 million cards to its fan base in the first phases of the program. The agreement calls for the eventual purchase of 5 million cards over the life of the contract. The club will integrate its most popular loyalty benefits into the program, in addition to the unique financial services of a virtual wallet and prepaid debit card. Purchases made with the new cards will also be give special consideration at the Sport Club's Fenerium retail stores.
The project will combine Smartcard's virtual wallet platform, VelocityMoney, with a prepaid debit card platform to provide innovative financial and membership services both online and offline in traditional POS transactions.
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)