SOURCE: Smart Card Marketing Systems Inc.

May 31, 2007 11:50 ET

Smart Card Marketing Systems Inc. (SMKG.pk) (QYH.f) Launches Virtual Portable E-wallet Solution

SAN ANTONIO, TX--(Marketwire - May 31, 2007) - Smart Card Marketing Systems Inc., (PINKSHEETS: SMKG) (FRANKFURT: QYH), is pleased to announce the launch of its Virtual Portable E-wallet that combines prepaid card services, Banking transfer services with the online facilitation of a portable e-wallet.

Stated by "CEO Massimo Barone": We are pleased to announce the launch of our added service of which retail merchants can physically receive payments from customers online as well as offline at their physical retail site(s). This added service brings together the merchant, bill payment and consumer service offering to a new level. Velocitymoney™ is growing as a top tier choice for financial institutions and aggregators as a Premium choice for their usage. In addition this will benefit SmartCard with increase revenue from transactions processed.

Description on VELOCITYMONEY™ 2 platform offerings:

1) TRUE FINANCIAL ENVIRONMENT

Velocitymoney.com operates as an online Money Service Business with the added value of money transfers, what makes us different is our International currency accounts, prepaid cards (multiple currency) with exclusive funding devices such as the Home ATM with worldwide network carriers. The additional value for the customer is also in the tools available to send or receive funds and the ability to pay bills, email money to recipients/receive and the first ever true portable virtual E-wallet on the Internet for offline payments.

A merchant can register online with Velocitymoney™ and benefit from customers using their account services of their portable e-wallet in the presence of the participating merchants (brick and mortar) retail location to transact funds. Velocitymoney.com authorizes the transaction and guarantees the funds to the merchant instantly.

2) FAUX FINANCIAL PAYMENT AND CURRENCY SOLUTION

The Velocitymoney™ platform is also available as a White Label platform to synchronize a common community of merchants within a mall type retail structure, membership, cooperative and purchasing network. The sites administrator creates their common currency or trading commodity and creates a purchasing tariff for acquiring this currency to trade within this closed community. The flow of payments and exchange are managed by the site administrator for transfers and qualifying transactions with the added value of rebates, discounts, gift certificates and much more.

As Stated by our "CTO Mr. Abbondio Castronovo," this new feature will allow merchants and retailers to activate their accounts with Velocitymoney™ and accept payments from customers onsite. The feature allows merchants once signed up to take payment from a customers virtual account without risk at their retail location. This new innovative functionality will allow the ease and integration of mobile service payments in the near future.

Safe Harbor Statement

Information in this press release may contain 'forward-looking statements'. Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of SmartCard Marketing Systems Inc products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in SmartCard Marketing's Inc periodic reports filed with the regulatory authorities.

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