VERITEC SIGNED JOINT VENTURE WITH VIVA ENTERTAINMENT GROUP AKA VIVALIVETV (OTTV)

GOLDEN VALLEY, Minn., May 23, 2023 /PRNewswire/ -- Veritec, Inc. (VRTC), the inventor and owner of various 2-Dimensional Matrix Symbology and processor/program manager debit cards, electronic payment networks, and merchant processing services signed a Joint Venture Agreement with Viva Entertainment Group. Veritec products and services will be advertised on Viva Live television (700 channels) and entertainment products and services through Viva's massive global OTT network now in 195+ countries with a reach of approx. 6 billion people.

Van Tran, CEO of Veritec Inc. said, "The Joint Venture Partnership will open doors for Veritec to license its patented technologies as well as to sell its financial and secured ID cards to a worldwide audience through Viva live television and streaming services."  

Johnny Falcones, CEO of Vivalivetv stated, "We are very proud and excited to join Veritec. This joint venture will give us the ability to market a new global payment system to the world. Our company is experiencing unprecedented growth, unlike any other year. We are excited about the prospect of becoming one of the top-notch American Corporations."

About Viva Entertainment Group/ aka Vivalivetv:

Viva Entertainment Group, also known as Vivalivetv, is a global company that specializes in entertainment and technology. It serves as a liaison between content owners and video distributors to provide high-quality content to users through smart devices with screens. Viva has developed an over-the-top (OTT) system that delivers television services via the internet protocol suite, rather than traditional methods such as terrestrial, satellite signal, or cable television. With Viva's entertainment services, subscribers can access their preferred content from anywhere and at any time with a WiFi connection.

VivaLiveTV offers a broad range of interactive features, including live TV from various locations globally, TV shows, movies on demand, pay-per-view options, and more. The company has partnered with independent and major film studios, television networks, telecoms, cable companies, and emerging ISPS to expand its capabilities in multi-platform video distribution. Viva aims to provide licensed and delivered premium content technology services to traditional and OTT video distributors worldwide. As a publicly traded company under the stock symbol OTTV, Viva is the sole end-to-end provider of premium content technology services.

About Veritec, Inc.:

Veritec, Inc. was founded in 1982 to develop, market and sell microprocessor based encoding and decoding system products that use 2D barcode technology originally invented by the founders of the Company. Veritec has expanded its markets into bio-identification and financial arenas. Veritec Inc. has three separate wholly owned corporations: Veritec Verifications and Identification, Veritec Financial Systems, and Tangible Payments Systems.

Veritec Verifications and Identifications focuses on automated industries including liquid crystal displays (LCDs), pharmaceuticals, and secure biometric identification using its proprietary VeriCode® and VSCode™. The VeriCode® and VSCode® are widely in the LCD markets (www.veritecinc.com)

Veritec Financial System Inc. (VTFS) focuses on its proprietary Financial Visa Debit card and Mobile Banking Technologies. VTFS registers its software platform with sponsor banks and becomes its own processor and program manager of the sponsor banks. VTFS has a relationship with Visa as Third-Party Servicer of Visa branded card as well as private label, affinity; ATM, and PIN base card programs (www.vtfs.com and www.blinxpay.com)

Veritec Tangible Payments systems Inc., the merchant processing company, focuses on its gateway to provide a Java-based enterprise web payment portal and services. Its focuses are on larger enterprises, usually encompassing multiple banks and IT specific requirements. Tangible gateway offered both credit card and ACH capabilities. Tangible built its 'ePay' platform for a large customer, KPMG and in 2002 the customer received the NACHA Best year award in Payment Portal for its ePay program (www.tangiblepayments.com)

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof.  Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions.  Our SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason unless otherwise required to do so by SEC Regulations.

Veritec Contact:

Van Tran
CEO
Tel. 612-991-7928
[email protected]

SOURCE Veritec, Inc.