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Smart Card Marketing Systems Inc. Signs Agreement With Lexar Consultants, Inc. Monday May 15, 4:00 pm ET
SAN ANTONIO, TX--(MARKET WIRE)--May 15, 2006 -- Smart Card Marketing Systems Inc. (Other OTC:SMKG.PK - News), a leading provider of prepaid cards, value smart storage cards and payment transaction management services, announced today that they have signed an agreement with Lexar Consultants, Inc. to facilitate a co-brand prepaid card for the Miami, Haiti and Caribbean markets. ADVERTISEMENT
The initial order is for one thousand cards with the projection of fifty thousand cards in year one and sixty thousand cards in year two. Smart Card VP Paul Continelli stated, "The need for payroll and money remittance solutions in international marketplaces is increasing dramatically, and it currently is a $20 billion dollar market in the United States alone." The demand for prepaid cards and access to international networks provided by MasterCard® and Visa(TM) are on the rise in countries where there is an unstable currency. These areas rely on these types of money remittance channels while new banking methods and practices are being established.
The global use of prepaid cards reinforces the need for a payment and reload network such as VelocityMoney(TM) and VelocityMerchant(TM) that allow for turnkey deposit and reload facilitation for clients worldwide. Additionally, the broad demographic reach of Smart Card's products and services allows for the company to develop relations in many countries where traditional banking systems and networks are not yet fully functional. Smart Card's management feels that the international prepaid scene is growing at a strong pace and that establishing relations with financial institutions abroad for payment services will be fundamental to strengthen the company's bottom line.
Lexar Consultants presently operates under the trademark name World BanX(TM) and will continue to do so for their new prepaid charge cards.
About Lexar Consultants, Inc.
Lexar Consultants is comprised of attorneys and business counsellors who assist companies, merchants and individuals with cross border and international trade. The consulting group is lead by George Rene and Francis Alerte, both attorneys, who oversee a team with vast trade knowledge as well as a resource base in the Montreal, Miami and Caribbean markets.
About Smart Card Marketing Systems, Inc.
Smart Card Marketing Systems, Inc. was established in 2003 and is a leading provider of prepaid cards, value smart storage cards, loyalty programs and payment processing services. Smart Card offers a powerful sales organization and merchant reseller marketing program that incorporates cutting edge technology and delivers a viable cost-effective solution. Smart Card is looking to revolutionize the prepaid and loyalty card market by presenting their proprietary solution offering, the GoSmartCard platform.
Forward-Looking Statements. This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements about the expected future prospects of our business and all other statements in this release other than historical facts, constitute forward-looking statements. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "would," "should," "seeks," "approximately," "intends," "plans," "estimates," or "anticipates" or similar expressions which concern our strategy, plans or intentions. All statements we make relating to estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results are forward-looking statements. In addition, we, through our senior management, from time to time make forward-looking public statements concerning our expected future operations and performance and other developments. All of these forward-looking statements are subject to risks and uncertainties that may change at any time, and, therefore, our actual results may differ materially from those we expected. We derive most of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and, of course, it is impossible for us to anticipate all factors that could affect our actual results. Some of the factors that we believe could affect our results include: general economic and market conditions, including the lingering effects of the economic slowdown and services revenue; the overall condition of the bank card industry, including the effect of any further consolidation among financial services firms; the regulatory, credit and market risks associated with our operations; the integration of acquired businesses, the performance of our businesses; the effect of war, terrorism or catastrophic events; the timing and magnitude of sales; the timing and scope of technological advances; the ability to retain and attract customers and key personnel; and the ability to obtain patent protection and avoid patent-related liabilities in the context of a rapidly developing legal framework for software and business-method patents. The factors described in this paragraph and other factors that may affect our business or future financial results and when applicable, will be discussed in our filings with the Securities and Exchange Commission. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.
Contact: Contact: Max Barone Smart Card Marketing Systems Inc. maxbarone*gosmartcard.com 1 866 774 2555 http://www.gosmartcard.com
-------------------------------------------------------------------------------- Source: Smart Card Marketing Systems Inc.
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