SOURCE: Smart Card Marketing Systems Inc.

February 05, 2007 15:36 ET

Smart Card Marketing Systems Inc. (PINKSHEETS: SMKG) Corporate Update

SAN ANTONIO, TX -- (MARKET WIRE) -- February 5, 2007 -- Smart Card Marketing Systems Inc. (PINKSHEETS: SMKG) (FRANKFURT: QYH), leading provider of prepaid cards, value smart storage cards and Optical management services, is pleased to announce a major extension to service capabilities in the Money Services Business worldwide.

Smart Card management is pleased to announce that its relationship with its European service provider Earthport plc (ERP) has significantly extended the scope of its network by Earthport plc becoming a member of SWIFT.

About SWIFT

SWIFT is the industry-owned co-operative supplying secure, standardized messaging services and interface software to nearly 8,000 financial institutions in 206 countries and territories. SWIFT members include banks, broker-dealers and investment managers. The broader SWIFT community also encompasses corporate as well as market infrastructures in payments, securities, treasury and trade.

Earthport plc is the first payments company to be joining SWIFT through a Member Administered Closed User Group which will provide the following key benefits and advantages:

--  Direct Access to Interbank Transfers
--  Harmonization of banking applications
--  Centralized and standardized reporting, including ability to receive
--  intra-day and per movement reporting
--  Increased efficiency in sending payment instructions
--  Increased reach of territories and currencies supported
--  Improved communication with banks via SWIFT Free Format messages --
--  will aid in resolution of queries, tracking and tracing of funds
--  Reduction in development time & resource in the integration of
--  banks, as reporting from the relevant bank will be able to be sent
--  to the EPO SWIFT BIC and all payment instructions will be within
--  the SWIFT Standards
--  Improved account opening process in that initial communication can
--  be made by SWIFT
    
Earthport is now live with its SWIFT connectivity.

About Velocitymoney.com

Velocitymoney.com is our consumer site in the money service business which allows access to financial information and transactions for our customers in regards to their prepaid cards, transactions, card to card functions, bill payments and funding account access worldwide.

Forward-Looking Statements. This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements about the expected future prospects of our business and all other statements in this release other than historical facts, constitute forward-looking statements. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "would," "should," "seeks," "approximately," "intends," "plans," "estimates," or "anticipates" or similar expressions which concern our strategy, plans or intentions. All statements we make relating to estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results are forward-looking statements. In addition, we, through our senior management, from time to time make forward-looking public statements concerning our expected future operations and performance and other developments. All of these forward-looking statements are subject to risks and uncertainties that may change at any time, and, therefore, our actual results may differ materially from those we expected. We derive most of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and, of course, it is impossible for us to anticipate all factors that could affect our actual results. Some of the factors that we believe could affect our results include: general economic and market conditions, including the lingering effects of the economic slowdown and services revenue; the overall condition of the bank card industry, including the effect of any further consolidation among financial services firms; the regulatory, credit and market risks associated with our operations; the integration of acquired businesses, the performance of our businesses; the effect of war, terrorism or catastrophic events; the timing and magnitude of sales; the timing and scope of technological advances; the ability to retain and attract customers and key personnel; and the ability to obtain patent protection and avoid patent-related liabilities in the context of a rapidly developing legal framework for software and business-method patents. The factors described in this paragraph and other factors that may affect our business or future financial results and when applicable, will be discussed in our filings with the Securities and Exchange Commission. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.

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