LAS VEGAS, NV--(Marketwired - Feb 24, 2014) - Budget Center Inc. (OTC Pink: BDGN) (the "Company or Budget") is pleased to announce that it has signed a Definitive Share Exchange Agreement to acquire 100% of Vericard Inc. as at February 10th 2014.
The Agreement between Budget Center and Vericard provides for the acquisition of 100% of the issued and outstanding shares of Vericard. Vericard will be issued 30 million common shares of Budget Center and will continue to operate with full utilization of all current assets, capital, contracts and agreements in place.
Vericard is the owner of www.CardVerify.net, a successful web-based service that protects online businesses and customers from credit card fraud. Forbes estimates that credit card fraud is costing merchants upwards of 190 billion annually. The merger will allow CardVerify.net to further capitalize on the rapidly growing market in web based credit card fraud protection platforms.
CardVerify offers unparalleled fraud protection by requiring purchasers to send an image copy of their credit card to prove that they are in physical possession of the credit card. This innovative yet simple process has proven to prevent virtually all fraudulent internet based orders submitted by thieves and hackers. CardVerify uses trusted industry-standard encryption protocols to ensure the security of client data. Internet merchants are currently using this application and their clients have welcomed this added verification process during the purchase. The added verification process has proven to be extremely effective.
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President & CEO
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