VendTek Systems Inc. announces that it has entered into a co-operation agreement with Visa
International, Latin America and Caribbean Region to promote VendTek’s smart
card LVD terminal and Visa Cash among Visa Member banks in the region.
Visa Cash is a chip-based electronic purse card that offers consumers
a fast and convenient way of making low value purchases, such as a cup of
coffee, newspapers, pay phones and public transportation.
The Company also announces that Visa International has purchased five of
VendTek’s smart card LVD terminals to reload value onto Visa Cash
“Visa International has been a supporter and promoter of the LVD concept
from inception,” says VendTek President Paul Brock. “Visa recognizes the value
of our self-serve smart card load from cash and vend infrastructure as an
important element in building on the success of their Visa Cash product.
To-date we have sold the LVD system to Visa International and the Banco de
Costa Rica for a transit application in San Jose, Costa Rica, where it has
proved very successful. The purchase of LVD stations by Visa International
for live use and demonstration will significantly raise the exposure and
profile of the LVD product.”
About the smart card LVD
Smart cards are secure “electronic purses” that enable consumers to
purchase goods quickly and conveniently in an off-line transaction. VendTek’s
LVD is a flexible, self-serve platform that allows for reloading a smart
card from cash, credit card or associated account and the purchasing of a
card; it is the only self-serve reload from cash platform approved by Visa
International, Latin America and Caribbean Region, for the TIBC v1.0 smart
card operating system.
VendTek uses its expertise in payment and self-serve technologies, smart
cards and networking to develop systems for transaction automation. VendTek’s
secure proprietary systems reduce shrinkage, improve access for consumers,
increase the number of selling outlets and selling hours, and enhance overall
security making the systems superior to traditional distribution and
About Visa International
Visa is the world’s leading payments brand and the largest payments
system worldwide. Visa-branded cards, over one billion, generate more than
US$1.8 trillion in annual volume and are accepted at over 22 million locations
around the world. The Visa organization plays a pivotal role in advancing new
payment products and technologies to benefit its 21,000 member financial
institutions and their cardholders. Visa is a leader in Internet based
payments and is pioneering the creation of u-commerce, or universal commerce –
the ability to conduct commerce anytime, anywhere, over any type of device.
Visit Visa, Latin America and Caribbean Region at http://www.visalatam.com.