Vancouver-based VendTek Systems has now deployed 1,000 “e-Fresh” clients in POS terminals in retail stores across the country.
In addition to the total retail sites already offering “Now Prepay” services, the Company has already sold an additional 600 client licenses
bringing the committed total client deployment to 1600 in Canada. Each deployed “e-Fresh” client in a retail site connects back to the “Now Prepay” server and creates recurring transaction revenues from the sale of prepaid services. “Now Prepay” began selling the client licenses in November 2002.
VendTek Systems Inc., a leading provider of software for
prepaid service distribution, is pleased to announce that it has reached a
milestone in the development of its Now Prepay business. The Company has now
deployed 1000 e- Fresh Clients in POS terminals in retail stores across
In addition to the total retail sites already offering Now Prepay
services, the Company has already sold an additional 600 client licenses
bringing the committed total client deployment to 1600 in Canada. Each
deployed e-Fresh(TM) client in a retail site connects back to the Now Prepay
server and creates recurring transaction revenues from the sale of prepaid
services. Now Prepay began selling the client licenses in November 2002.
“This is a tremendous achievement for VendTek and Now Prepay. The growth
rate has been excellent and recent trends indicate we can expect that to
continue. Our customers have shown their approval for our product by the
amount of re-orders that we have received. The feedback has been extremely
positive.” said Paul Brock, President of VendTek Systems Inc.
Now Prepay is joining forces with POS terminal distributors and
transaction processing organizations to integrate VendTek’s e Fresh(TM)
software with debit card and credit card processing software. The combined
applications provide a value added solution to the channels presently served
by physical cards for prepaid telecom services. Given the anticipated future
discontinuation of physical cards by Canadian Cellco’s, VendTek, through Now
Prepay, is poised to capture a significant share of the electronic
distribution of prepaid services market in Canada.
For more information, or to receive news and updates as they become
available, please contact Samantha Haynes at 1-800-806-4958 or 604.940.2239.
About VendTek and Now Prepay (http://www.vendteksys.com / http://www.nowprepay.com)
VendTek Systems Inc. develops and licenses e-Fresh(TM) software and
related technologies, which provides electronic distribution of prepaid
telecommunication and financial services. VendTek is commercializing the e-
Fresh(TM) software under license to create sustainable and recurring revenues.
VendTek’s customers and its subsidiaries, Now Prepay Corp. (in Canada) and
VendTek Systems Technologies (in China), are using e-Fresh(TM) software to
build electronic, prepaid services networks which enable consumers to purchase
prepaid services via POS and self-serve terminals connected to a central e-
Fresh(TM) server. This system creates significant value through improved
efficiencies compared to the traditional distribution paradigm. e-Fresh(TM)
reduces shrinkage and inventory requirements while improving consumer access
to prepaid services since it is completely electronic and eliminates physical
cards and vouchers.