Message #349 From:
stockup Date: October 17, 2009 10:33:56 AM
SMKG up 40% friday at .01.. holding solid
SMKG the news keeps growing. up 40% friday
SmartCard Marketing Systems Inc. (PINKSHEETS:SMKG) Reports 407% Gain in Payment Processing For August 2009 Compared to Same Period Last Year 10/16/2009 8:30:01 AM - Business Wire
SAN ANTONIO, Oct 16, 2009 (BUSINESS WIRE) -- SmartCard Marketing Systems Inc. (PINKSHEETS: SMKG) announced today that their Prepaid Card loading, Pin Debit and Bill Payment processing volume increased 407% for the month of August 2009 as compared to the same period last year. Although processing volume has declined slightly from record highs in the first half of the year the number of transactions have increased over 370% from the same month compared to last year, it continues to add significant fee revenue to the company. The company continues to build its active customer base and is adding new financial institutions to its Global Payment Network.
(PINKSHEETS: SMKG) CEO Massimo Barone said, "We are aggressively pursuing new card business in the international arena and possibly acquiring existing programs under management on a revenue share model to decrease buy rates from Financial Institution Issuers. This will increase transactions and profit margins from transaction based revenues increasing our portfolio of merchants with strong interest from struggling card management companies not meeting their contractual minimums. We strongly believe that as Banks regain momentum from these difficult times that consolidation will occur and demand for program management companies such as (PINKSHEETS:SMKG) will become a 1st tier provider solution for non-interest generating revenue sources."
