SmartCard Marketing Systems Inc. (PINKSHEETS: SMKG) Industry Continues to see Growth
11 August 2008 - 5:18PM
Marketwired
As Stated by SmartCard Marketing Systems Inc. (PINKSHEETS: SMKG)
"Management is pleased to provide the following industry news/stats
to its investors and shareholders. Our business strategy includes
retailers servicing the estimated 20 - 25 million un-banked
employees in the U.S. and 25 million under-banked employees with
cross border an additional 9 - 12 million in Canada. Current
customers target the Hispanic marketplace (2005 estimated 40
million people in the US) and other individuals who do not have
bank accounts or who prefer to deal primarily in cash. Retailers
can offer ATM cards or Debit re-loadable cards to customers in lieu
of cash, whether they have a bank account or not. The cards can be
reloaded with cash at the retailer's location or through payroll
direct deposit from the customer's employer.
(SMKG: PINKSHEETS) customers also include money transfer agents
who are competing with MoneyGram and Western Union. Last year more
than 100 million transfers were completed, with 56% being
international, half of those going to Canada or Mexico. The average
transfer was $300 - $500. SMKG debit card products leverage the ATM
networks world-wide, particularly in the countries where the money
is being paid out. This ability provides a lower-cost alternative
to Western Union or MoneyGram, whose combined costs can run 10% -
15% of the amount transferred, when currency conversion costs are
included. The velocitymoney.com payment network then allows
merchants and customers to transact globally.
Debit Keeps the Bank Card Networks Humming
Digital Transactions - Hoffman Estates, IL,USA Debit purchase
volume, including that on Visa's Interlink PIN-based network, hit
$193 billion, up 16.3% from $166 billion in fiscal 2007's second
quarter.
We seek safe harbor.
Contacts: Smart Card Marketing Systems Inc. Max Barone CEO
1-866-774-2555 maxbarone@gosmartcard.com
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