SmartCard Marketing Systems Inc. (SMKG:PINKSHEETS) Posts 547% Gain in Payment Processing Volume in First Half of 2009 Compared to Same Period Last Year
Press Release
Source: SmartCard Marketing Systems Inc.
On Monday September 21, 2009, 8:30 am EDT
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SAN ANTONIO--(BUSINESS WIRE)--SmartCard Marketing Systems Inc. (SMKG:PINKSHEETS) Announced today that their Prepaid Card loading, Pin Debit and Bill Payment processing volume increased 547% for the first 6 months 2009 as compared to the same period last year. Financial statements to be released shortly show that the company also increased its sales revenue 157% and net earnings/loss results improved 54% during the first half of 2009 over the first half of 2008.

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{"s" : "smkg.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""} (SMKG:PINSKHEETS) CEO Massimo Barone stated, "Our business in North America is growing rapidly and we are just beginning to launch several international programs as well." Alternative financial services like prepaid debit cards continue to grow more popular in the weakened credit climate existing around the world. A VISA International executive recently estimated the future Prepaid Card market to be "somewhere around $4 trillion". It was reported recently that in 2008 the dollar volume of all VISA debit card purchases in the US exceeded credit card purchases for the first time in history. During the same period debit transactions constituted a small percent of all purchase transactions, which will begin it increase throughout the next few Quarters improving our overall growth. (SMKG:PINKSHEETS) benefits as payors and merchants look toward prepaid debit cards to replace existing credit programs.”

ABOUT VELOCITYMONEY.COM

Velocitymoney.com continues to see growth in customer registrations and merchant activity with the priority placed on delivering a more dynamic and well marketed site. As we continue to develop a parallel new website with major focus on the customer experience we strive to complete the new offering prior end of 3rd Quarter 2009 which will not disrupt our existing services.

SHARE STRUCTURE

The current share structure of (SMKG:PINKSHEETS) 200 million Authorized,198 million outstanding Shares with the float of 92 million shares. Management at this time is not considering increasing the authorized or considering a stock reverse split of shares.

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