SmartCard Marketing Systems Inc.

SmartCard Marketing Systems Inc.

November 24, 2008 11:04 ET

SmartCard Marketing Systems Inc. (PINKSHEETS:SMKG) Posts 46% Gain in Payment Processing Volume in October 08 From Previous Month and 400% Gain for Same Period Last Year

SAN ANTONIO, TEXAS--(Marketwire - Nov. 24, 2008) - SmartCard Marketing Systems Inc.(PINKSHEETS:SMKG) announced today that their Prepaid Card loading, Pin Debit and Bill Payment processing volume increased 46% for the month of October 2008 over September 2008 and over 400% greater than October 2007. This is the third month in a row that the company has set a new record high in payment processing volume.

(PINKSHEETS:SMKG) President Bruce Baillio said, "The current global economic downturn has not hindered our growth at all. In fact the company continues to experience new record highs in both processing volume and fee revenue. (PINKSHEETS:SMKG) has really just begun to come out of its development phase into an exponential growth curve that looks very promising. We are signing new strategic alliances every month which will further increase the utilization of our VelocityMoney.com payment platform. The demand for our Online Bill Pay service both in Canada and the US continues to show strong growth."

We will also announce this month several distribution agreements which will add 15,000 to 30,000 branded prepaid cards to our portfolio of active cards. These agreements will expand our market penetration into Europe, Asia and South America.

Studies show that the trend toward consumers using debit cards instead of credit cards continues to grow. The tight credit market worldwide should accelerate that trend. SMKG's business model involves capturing a significant share of the estimated 28 billion debit transactions that occur every year and make capture market share in money remittance processing, online bill payments and alternative e-commerce payment transactions."

We seek safe harbor.

Contact Information