SmartCard Marketing Systems Inc. (SMKG.pk)(QYH.f) is a leading provider for the Money Services Business market and Optical Industry.
Stated by CEO Massimo Barone, "The agreement to integrate the Home ATM Device (Patent app. worldwide for PIN debit/Credit over the Internet) into the www.velocitymoney.com solution is now active. We are excited about this as it allows Velocitymoney™ to become a virtual e-processor and leader of aggregator of funds for the Money Service Business market internationally. Our reach in the offline and online markets will eliminate borders and open opportunity.
"It is our goal to build upon this environment and take the solution globally and develop market share in markets of which it was too financially costly to develop and maintain a processing solution. At present the SmartCard team has 19 merchants in over 16 countries evaluating the capabilities and financial impact the service will have because of its low cost and Internet capabilities to process transactions."
About the Point of Sale (POS) Marketplace
The POS market is a very competitive market to penetrate and many processors compete for small fee's with high volume of transactions (generating revenue) being the key to profitability. It is common and proven knowledge that POS providers are acquired by competitors or competing banks when POS providers become well positioned in a market segment. Often the price of purchase for a POS company is estimated at $600.00 to $1200.00 per installed site with additional compensation for annuities earned of 6 months to 18 months worth. SmartCard will benefit from creating a value never anticipated before in the industry by having consumers acquire terminals for the first time creating a potentially enormous value from cross over install base of merchants and consumers.
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