SOURCE: SVC Financial Services

April 05, 2005 07:00 ET

SVC Financial Announces Distribution Partnership With Merit Financial

SAN FRANCISCO, CA -- (MARKET WIRE) -- April 5, 2005 -- SVC Financial Services, Inc. (OTC: SVCX), a leading provider of electronic payment processing and stored value products and services, today announced a distribution partnership with Merit Financial Solutions, LLC, one of the premier distributors of prepaid and stored value cards in the United States.

The agreement calls for the distribution of SVC stored value debit cards to potentially millions of consumers via tens of thousands of merchants throughout the nation.

"From the very beginning we have believed that the right distribution partners would be key to our success," said Christopher Haigh, SVC President and CEO. "I am very excited and pleased with our partnership with Merit; they are a proven powerhouse that is one of the major forces driving the prepaid card distribution industry."

"We have been looking for a partner that cost-effectively enables consumers, workers and families to transfer money easily, reliably and securely," said Rick Greene, Vice President of Merit Financial. "SVC fills the bill perfectly. We are starting immediately to make sure that SVC cards are available to as many people as possible."

The distribution partnership follows on the heels of last month's SVC introduction of 'Scoot' -- an unrivaled product that enables cell phone users to transfer funds directly to each other. For one low fee, the '"Scoot family Plan" enables family, friends and co-workers to 'Scoot' money to each other from one cell phone to another -- from half a block or half a world away.

About SVC Financial Services

SVC Financial Services, Inc. (SVC) is a leading innovator of media and mobile transaction solutions. SVC delivers global transaction solutions that are easy to use, highly secure, and extremely cost effective. SVC delivers the revolutionary Scoot™ Mobile ATM Money Card, allowing anyone with a cell phone to store, send, receive and transact funds anywhere in the world. Scoot mobile money is a low cost, global approach to supporting the large and growing markets for funds transfer, unbanked money management, and secure payment remittances and reimbursements. SVC has pioneered the Mazarin™ Media Platform that provides rapid media-based application delivery for any user or organization. Mazarin solutions focus on non-profit organizations, political fund raising, music and entertainment, corporate and consumer marketing. SVC Payment Services© include a profitable micro payment system, debit card processing, and digital asset management. More information about the Company may be obtained at www.svcfinancial.com and www.getscoot.com. SVC is a publicly traded company (OTC: SVCX).

About Merit Financial

Based in Coral Springs, FL., Merit Financial Solutions, LLC is a provider of instant issue Debit, Payroll, Gift, Phone, Cellular, and ATM cards. While providing thousands of our retail merchants and distributors with phone and cellular platforms over the past ten years, the principals of MFS have created a stable, stored-value debit card solution. Offering end-to-end solutions is the trademark of Merit Financial Solutions, which has positioned itself in the retail arena as a leading provider of instant issue products. Assembling one of the nation's largest networks of Distributors, Agents and Merchants, MFS is positioned to take point of sale products to the highest level of product offerings. More information can be found at www.meritcard.com

Safe Harbor Statement

Except for historic information contained in this release, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital to execute its business plan, and effectively compete against similar companies.

Contact Information

  • Contact:
    Chris Haigh
    CEO
    SVC Financial Services, Inc.
    866/370-9600
    www.svcfinancial.com

    Nagle & Ferri, LLC
    Bob Ferri or Frank Nagle
    415/575-1999