CEO Massimo Barone said,
âWe are proud to present our 2010 Company Outlook. We believe that this
information will allow both our company shareholders along with
existing/future clientele the ability to completely understand what our
great company has accomplished and achieved during its first important
initial years. Our platform stands unique and can be tailored to our
many different clientele needs. The current and future economic
situation offers SmartCard Marketing Systems Inc. an unlimited amount of
growth potential which we aim to capture during the coming years.â
FINANCIAL SERVICES
VelocityMoney Financial Services Portal
The VelocityMoney Financial portal has reached a new pinnacle of service
and ease-of use. SMKG has included 4 products and 15 services under one
comprehensive web application for Individuals, Businesses and Merchants.
In the fourth quarter of 2009 SMKG added its proprietary
VelocityMoney consumer financial portal to the VelocityMerchant
commercial financial management portal. Together they form a complete
platform for consumers and merchants to move money, manage their
stored-value debit cards, transfer money between international bank
accounts in 16 different currencies and make online purchases from
participating merchants. The online system allows consumers and
merchants to send, collect and manage money online internationally in 19
different currencies.
Products:
Stored Value Cards â Globally-branded Open-Loop Prepaid Debit Cards
One of the most exciting new products to which (PINKSHEETS:SMKG) has
acquired the distribution rights is International Stored-Value Debit
Cards. These products are in high demand within the niche populations of
a) those with no bank account, b) those who want to transfer money to
relatives in remote locations bypassing more expensive transfer
companies like Western Union, c) companies who want to put all
employees, including unbanked employees, on payroll direct deposit, and
d) immigrants who are trying to get financially established in their new
country. Each card sale represents an average of $40 and $60 per year in
residual transaction revenue.
VelocityMoney Prepaid Debit and Gift Card Program – US
(PINKSHEETS:SMKG) has marketing rights to branded Debit cards and Gift
Cards under license, processed and managed by its US financial issuer.
After doing a thorough market search, management has determined this to
be a very unique opportunity to create revenue both through sale of the
cards, and, more importantly, through recurring monthly residuals from
transactions performed by cardholders.
Canadian Distribution
(PINKSHEETS:SMKG) has distribution rights to a prepaid Debit MasterCard
Issued by a Canadian financial issuer. It is one of a few such cards in
Canada that can be issued to an individual who does not have a bank
account. This represents a huge opportunity to sell cards into a market
that has little to no competition. Through its Canadian development
office, (PINKSHEETS:SMKG) has significant sales opportunities to recruit
resellers of its cards through transaction-based financial service
providers such as bankruptcy-asset distribution trustees, check cashing
establishments, payroll companies and as a funds distribution mechanism
for investment houses and travel companies.
Loading Network
Green Dot Network â One of the biggest obstacles in the debit card
business is getting money onto the cardholderâs card. (PINKSHEETS:SMKG)
has a contract solution that gives it an advantage in the current
marketplace. This solution is the Green Dot Deposit Network.
The Green Dot Financial Network allows cardholders to add cash onto
their VelocityMoney cards at tens of thousands of retail locations
nationwide including Rite Aid, Walgreens, CVS/pharmacy, RadioShack and
WalMart.
ONLINE PIN DEBIT PROCESSING
HomeATM Payment Processing
SMKG integrated the HomeATM PIN terminal to its free Internet-based
payment platform, VelocityMoney.com. The terminal plugs into the USB
port on a computer with Internet access and a free VelocityMoney.com
account. With no more set-up than that, the business can accept any
bank’s PIN-based debit card for payment. The transaction is basically
treated as a cash transaction or ATM withdrawal by the bank…no
charge-backs and no reserves.
SMKG receives 1% on payments processed.
MERCHANT PROCESSING
Credit Card Processing
SMKG has written an interface that allows merchants who need to process
credit or debit cards remotely to use their mobile devices, such as cell
phone or wi-fi to process payments and print out a receipt for the
customer. The VelocityMoney Bluetooth Printer has a built-in credit card
swipe/reader and thermal printer. It can be used alone or in conjunction
with the HomeATM device to process credit and debit cards remotely and
securely while printing out receipts for signature capture.
ONLINE BILL PAY PROCESSING
In 2008 SMKG has added Online Bill Pay capabilities to its
online platform, both in Canada and in the US. This allows the companyâs
cardholders or VelocityMoney account holders to use funds in the card or
virtual accounts to pay thousands of billers online, billers like
utilities, insurance companies, landlords, credit card companies, even
private individuals.
The company receives from $0.50 to $2.50 per transaction, depending on
the payment amount, from each transaction processed. The company expects
to sign up over 5,000 users within the next 12 months.
MONEY TRANSFER SERVICES
In addition to Online Bill Pay, SMKG offers a wide variety of ways for
its customers to move money anywhere in the world.
SWIFT Payment Processing
One of the services offered within the VelocityMoney product suite is
the ability to send money quickly almost anywhere in the world using
fiduciary services as its service provider. This company has established
a network of banks on the SWIFT system where they swap or exchange money
from one bank to another within the network. This allows an account
holder in one country to send money to any other country in the network
and receive credit in their virtual account within 24 hours. The
recipient can then direct the funds to his bank account, his
VelocityMoney-linked debit card or to any recipient using the Bill Pay
functionality.
The company nets up to $2.50 for every transaction that is initiated
through VelocityMoney.com.
