GOLDEN VALLEY, Minn.,
March 6, 2012 /PRNewswire/ --
Veritec, Inc. (OTC –VRTC) and its wholly owned subsidiary Veritec
Financial Services (VTFS) today announced the roll out of their
Blinx On-Off™ Smart Toggle Debit Card. The Veritec Blinx
On-Off™ Toggle Card uses web-based mobile technology to offer
financial cardholders the very best technology in conducting secure
financial transactions in real time, protecting personal identity,
and financial account security.
Veritec's new Smart Toggle Card™ financial card has multiple
features that will greatly benefit card holders. The card can
easily be toggled on and off by using a mobile phone or the web.
Card holders can receive instant notification of card activities
and transfers of funds in real time, within the Veritec
system. Veritec's debit card system produces an instant issue
non-personalized re-loadable debit card and personalized
re-loadable and subordinate family cards. All financial
transactions conducted in real time are just a few of the many
beneficial features found in the new Veritec's Blinx On-Off™ Smart
Toggle Card.
Veritec's technology includes a Proprietary Secure Financial
Card Processing Software Platform and is the approved Third Party
Processor of debit cards for banks and Visa. Veritec is also an
Independent Sales Organization (ISO) to market Visa Branded Debit
cards.
Veritec is the patent holder for proprietary two-dimensional
Matrix Symbology, VeriCode® and VSCode®. The Codes assist in the
secure identification of people and products. The combination of a
financial debit card and a secure identification card make
Veritec's Multi-Purpose Cards unique in its field.
Van Thuy Tran, Executive Chair of
Veritec states "We are all proud at Veritec to have achieved this
milestone in the financial card market. Veritec continues to
aggressively build our Company surrounded by innovative, patented
technologies and card processing systems that will be the corner
stone of secure identification and financial transactions while
reducing complexity and costs."
Further details about Veritec's technologies and its multiple
applications can be found on Veritec, Inc.'s website at
www.veritecinc.com; www.vtfs.com; www.blinxcard.com
ABOUT VERITEC, INC.
Founded in 1982, Veritec offers a patented line of encoding and
decoding software products that utilize the 2-D Matrix Symbology™,
which allows users to create, apply, store, or transmit unique
identifiers directly on the products or to an electronic device in
the form of a coded matrix symbol, which enables automated
manufacturing control, as well as identification, tracking, and
collection of data via cameras, mobile phones, readers and
scanners. The collected data can then be stored in the 2-D barcode
available for contemporaneous verification or other user-definable
purposes. Veritec's 2-D Matrix Symbologies, the VeriCode® and
VSCodes®, with its incredible robustness, security features, and
large data storage capacity, have proven to be the technology of
choice for products tracking, identification, and verification in
many automated industries. Veritec technologies are also applicable
in the Secure Bio-ID Cards to provide positive identification via
biometric markers such as fingerprints, or pictures. Veritec's
licensed software products have recently been introduced to the
banking industries via Stored-Value Debit Cards. In the mobile
phone industry, Veritec has patented the "PhoneCodes™" products
that allow an individual using the Internet or mobile phones to
purchase, send, or receive a gift certificate, ticket, coupon,
receipt or transfer money.
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.
Contact:
Van Tran (CEO)
763-253-2670 (office)
612-991-7928 (cell)
vtran@veritecinc.com
SOURCE Veritec, Inc.