MONTREAL and MANILA, Philippines, Nov. 9, 2012 /PRNewswire/ - (Freeport Capital FAS: CNSX), - Freeport Capital Inc. a leader in Mobile Credit and PIN Debit payment solutions, announces that its subsidiary Hybrid Paytech Asia Inc. has successfully signed a Managed Service Agreement with Bancnet Inc., the largest electronic banking consortium in the Philippines. Hybrid will become an authorized Point of Sale/Service (POS) hardware provider to BancNet and will be working cooperatively to integrate standard POS terminals and Mobile handheld technology to the BancNet POS network.
This partnership is in line with BancNet's continuing effort to further expand its network of payment terminals where cardholders of its 99 member banks can pay for purchases using their cards. BancNet is currently interconnected with other ATM and POS networks in the country - Expressnet and Megalink, and with China's Union Pay. The partnership will further expand this network to include target merchants of Hybrid Paytech Enterprise and SME solutions.
"Hybrid Paytech Asia's breadth of merchant services and thoroughness of compliance with current and emerging payment standards set them apart as a mobile payment provider," said Robert Blas, president of BancNet Inc. "We are happy to partner with a corporation that has an in-depth knowledge of the global payment environment to complement our existing payment offerings to our member banks."
"The initial implementation will be as a standard BancNet terminal provider but we look forward to progressing our relationship to include mobile payments via Hybrid Paytech's mobile ecosystem that targets Smart Phones, Tablets, PDA's and other mobile devices supporting Android, Windows Mobile, BB, and Apple iOS operating systems," said Gary Repchuk President of Hybrid Paytech Asia Inc.
About BancNet, Inc.
BancNet is the largest Automated Teller Machine (ATM) consortium in the Philippines, with 99 member banks and more than 8,000 ATMs nationwide. It is also the country's first multi-bank, multi-channel electronic payment network. Current services also include Internet Banking, Mobile Banking, payment via POS, and e-banking outsourcing services.
About Freeport Capital Inc.
First Equity Strategy LLC (DBA; Hybrid Paytech) is a subsidiary of Freeport Capital Inc. Based in Montreal, Canada, Hybrid Paytech is a technology leader in the mobile payment space for EMV, Credit and Pin Debit acceptance offering an Enterprise Ready Platform (ERP) enabling Processors and Acquirers with quick merchant adoption solutions. With a global footprint, Hybrid Paytech is an enabler of easily deployable payment systems for Smartphones, Tablets, PDA's focusing on encryption and authentication for merchants in the Fleet, Delivery, Logistics, Transit, Government, Hospitality and "on the go" Retail industries.
For further information on Hybrid PayTech, please visit www.hybridpaytech.com and click on our corporate video presentation http://www.youtube.com/watch?v=XvZHrck2eag&feature=youtu.be.
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.
WARNING: This news release may contain forward looking statements based on the assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE FREEPORT CAPITAL INC.