Gemalto Acquires Todos

Gemalto acquires Internet banking security specialist Todos

Combination of Gemalto's existing e-banking business, the Xiring activity acquired in 2009 and Todos creates world leader in Internet banking security

Amsterdam - April 8, 2010 - Gemalto, the world leader in digital security, today announced that it has completed the acquisition of Todos AB from investors led by 6AP, a fund belonging to the Swedish National Pension system. Terms of the transaction were not disclosed.

Headquartered in Gothenburg, Sweden, and employing 80 people worldwide, Todos AB is a leading provider of strong authentication solutions for Internet banking. Todos has to date delivered in excess of 20 million products to over 100 financial institutions in more than 30 countries. Todos core offer is the eCode Suite, including the Todos Versatile Authentication Server, which enables strong authentication and transaction verification. The Versatile Authentication Server supports all leading industry standards and is augmented by patented technology such as Dynamic Signatures. Using their EMV card and a Todos’ eCode reader, consumers can use their PIN code to securely sign Internet banking transactions. An additional layer of security can be provided by displaying transaction details on the reader, so that users “sign what they see,” thwarting in particular “man in the browser” attacks. Over the coming months Todos will be integrated with Gemalto’s Identification and Access Management business line.

Commenting on the transaction, Oliver Piou, Gemalto chief executive officer noted, “Todos is a perfect fit with our e-banking business, bringing a complementary customer base and extending the solution offering. The combined business creates a new leader to address the fast growing Internet banking market worldwide.”

Ove Wedsjö, CEO of Todos added, “We are really thrilled to become part of the Gemalto family. Our combined products, customers and technologies establish us as the global leader in Internet banking. Going forward, I am confident that we will be able to further accelerate our growth, thanks to our extended customer reach, ensuring a safer online environment for e-bankers everywhere.”

Mats Augurell, SVP and head of AP Partner Investments commented, “We are very pleased with this outcome. We invested in Todos in 2001, having recognized the strong market potential and the company’s technology edge.  In making our exit decision, we selected Gemalto as the preferred bidder, since this combination clearly represented the best match for customers, employees and shareholders.”

About Gemalto

Gemalto (Euronext NL 0000400653 GTO) is the world leader in digital security with 2009 annual revenues of €1.65 billion, and over 10 thousand employees operating out of 75 offices, research and service centers in 41 countries.

Gemalto is at the heart of our evolving digital society. The freedom to communicate, travel, shop, bank, entertain, and work—anytime, anywhere—has become an integral part of what people want and expect, in ways that are convenient, enjoyable and secure.

Gemalto delivers on the growing demands of billions of people worldwide for mobile connectivity, identity and data protection, credit card safety, health and transportation services, e-government and national security. We do this by supplying to governments, wireless operators, banks and enterprises a wide range of secure personal devices, such as subscriber identification modules (SIM) in mobile phones, smart banking cards, electronic passports, and USB tokens for online identity protection. To complete the solution we also provide software, systems and services to help our customers achieve their goals.

As the use of Gemalto’s software and secure devices increases with the number of people interacting in the digital and wireless world, the company is poised to thrive over the coming years.  For more information please visit www.gemalto.com.

About Todos AB

Todos AB helps banks and other businesses create trusted, secure relationships with their customers online. Founded in 1987, Todos designs, develops, delivers and supports security solutions for strong multi-factor authentication. Todos’s principal solution is the eCode Suite, including Todos Versatile Authentication Server (VAS), which enables strong authentication and transaction verification. VAS supports all leading industry standards and is enhanced with patented technology such as Dynamic Signatures. Todos eCode Suite’s complete range of products features everything from printed OTP cards, mobile applications, tokens and up to the most advanced smart card readers available.  For more information please visit www.todos.se

About 6AP

The Sixth Swedish National Pension Fund (the Sixth AP Fund) manages public pension funds in order to create high long-term returns and take into consideration the need for satisfactory risk diversification. The task is to invest in small and mediumsized growth companies, mainly Swedish, thus contributing to the development of Swedish industry. The mission and business model of the Sixth AP Fund differ from those of the other Swedish National Pension Funds, but also from those of private equity companies.

The business model has been refined to satisfy the financial targets in the investment mandate. Investment activities are divided up into company investments and investments in funds and investment companies and are managed by an organisation comprising seven business areas. The Sixth AP Fund received its mandate in 1996 and started with investment funds of SEK 10.4 billion. By the end of 2009, this had grown by SEK 7,8 billion to SEK 18,2 billion, during a period which included two severe economic downturns. 

2010-04-08

Gemalto acquires Todos AB

Combination of Gemalto’s existing e-banking business and Todos AB creates world leader in internet banking security.

Download:

• PDF - Full story (English)


• PDF - Full story (Swedish)

Gemalto Acquires Todos

Gemalto acquires Internet banking security specialist Todos

Combination of Gemalto's existing e-banking business, the Xiring activity acquired in 2009 and Todos creates world leader in Internet banking security

Amsterdam - April 8, 2010 - Gemalto, the world leader in digital security, today announced that it has completed the acquisition of Todos AB from investors led by 6AP, a fund belonging to the Swedish National Pension system. Terms of the transaction were not disclosed.

Headquartered in Gothenburg, Sweden, and employing 80 people worldwide, Todos AB is a leading provider of strong authentication solutions for Internet banking. Todos has to date delivered in excess of 20 million products to over 100 financial institutions in more than 30 countries. Todos core offer is the eCode Suite, including the Todos Versatile Authentication Server, which enables strong authentication and transaction verification. The Versatile Authentication Server supports all leading industry standards and is augmented by patented technology such as Dynamic Signatures. Using their EMV card and a Todos’ eCode reader, consumers can use their PIN code to securely sign Internet banking transactions. An additional layer of security can be provided by displaying transaction details on the reader, so that users “sign what they see,” thwarting in particular “man in the browser” attacks. Over the coming months Todos will be integrated with Gemalto’s Identification and Access Management business line.

Commenting on the transaction, Oliver Piou, Gemalto chief executive officer noted, “Todos is a perfect fit with our e-banking business, bringing a complementary customer base and extending the solution offering. The combined business creates a new leader to address the fast growing Internet banking market worldwide.”

Ove Wedsjö, CEO of Todos added, “We are really thrilled to become part of the Gemalto family. Our combined products, customers and technologies establish us as the global leader in Internet banking. Going forward, I am confident that we will be able to further accelerate our growth, thanks to our extended customer reach, ensuring a safer online environment for e-bankers everywhere.”

Mats Augurell, SVP and head of AP Partner Investments commented, “We are very pleased with this outcome. We invested in Todos in 2001, having recognized the strong market potential and the company’s technology edge.  In making our exit decision, we selected Gemalto as the preferred bidder, since this combination clearly represented the best match for customers, employees and shareholders.”

About Gemalto

Gemalto (Euronext NL 0000400653 GTO) is the world leader in digital security with 2009 annual revenues of €1.65 billion, and over 10 thousand employees operating out of 75 offices, research and service centers in 41 countries.

Gemalto is at the heart of our evolving digital society. The freedom to communicate, travel, shop, bank, entertain, and work—anytime, anywhere—has become an integral part of what people want and expect, in ways that are convenient, enjoyable and secure.

Gemalto delivers on the growing demands of billions of people worldwide for mobile connectivity, identity and data protection, credit card safety, health and transportation services, e-government and national security. We do this by supplying to governments, wireless operators, banks and enterprises a wide range of secure personal devices, such as subscriber identification modules (SIM) in mobile phones, smart banking cards, electronic passports, and USB tokens for online identity protection. To complete the solution we also provide software, systems and services to help our customers achieve their goals.

As the use of Gemalto’s software and secure devices increases with the number of people interacting in the digital and wireless world, the company is poised to thrive over the coming years.  For more information please visit www.gemalto.com.

About Todos AB

Todos AB helps banks and other businesses create trusted, secure relationships with their customers online. Founded in 1987, Todos designs, develops, delivers and supports security solutions for strong multi-factor authentication. Todos’s principal solution is the eCode Suite, including Todos Versatile Authentication Server (VAS), which enables strong authentication and transaction verification. VAS supports all leading industry standards and is enhanced with patented technology such as Dynamic Signatures. Todos eCode Suite’s complete range of products features everything from printed OTP cards, mobile applications, tokens and up to the most advanced smart card readers available.  For more information please visit www.todos.se

About 6AP

The Sixth Swedish National Pension Fund (the Sixth AP Fund) manages public pension funds in order to create high long-term returns and take into consideration the need for satisfactory risk diversification. The task is to invest in small and mediumsized growth companies, mainly Swedish, thus contributing to the development of Swedish industry. The mission and business model of the Sixth AP Fund differ from those of the other Swedish National Pension Funds, but also from those of private equity companies.

The business model has been refined to satisfy the financial targets in the investment mandate. Investment activities are divided up into company investments and investments in funds and investment companies and are managed by an organisation comprising seven business areas. The Sixth AP Fund received its mandate in 1996 and started with investment funds of SEK 10.4 billion. By the end of 2009, this had grown by SEK 7,8 billion to SEK 18,2 billion, during a period which included two severe economic downturns. 

2010-04-08

Gemalto acquires Todos AB

Combination of Gemalto’s existing e-banking business and Todos AB creates world leader in internet banking security.

Download:

• PDF - Full story (English)


• PDF - Full story (Swedish)

Walmart Pushing Forward on International eCommerce Expansion

Wal-Mart Pushing Forward on International Ecommerce Expansion

By the ZippyCart Ecommerce Software Reviews Content Team

Retail giant Wal-Mart continues to expand their ecommerce efforts as they look to grow their international online sales, which will help them grow their presence on the Internet. Amazon and Wal-Mart went head-to-head for the 2009 holiday shopping season, starting Black Friday deals about a week before the actual day. This battle continued to heat up through Cyber Monday and through December, as Wal-Mart pushes to become a bigger force in the online retail space. Currently Wal-Mart is running operations in 14 countries which generated just over $400 billion in 2009, and hopes that this global footprint will help them with their international ecommerce expansion. In order to speed up the ecommerce expansion, Wal-Mart has started advertising for new jobs which will help with the international move to increase online sales.



Now that Wal-mart can sell a consumer almost any retail good they could ever need, they plan to bring that product selection to the international markets. Two of the biggest and most important international ecommerce markets that Wal-Mart wants to expand are China and Japan. As of now ecommerce operations for Wal-Mart online exists in the U.S., U.K., and Brazil, but the move into the Asian market makes a lot of sense. Countries like Japan and China are very savvy when it comes to online shopping, and are the perfect market for Wal-Mart to try and build a loyal ecommerce following. It is still unclear how much of Wal-Mart's total sales come via the online sector as they do not disclose those details, but the international expansion is proof that things are trending in the right direction. This holiday shopping season should be great for consumers, as it is likely that Wal-Mart and Amazon will battle it out again to provide the best Black Friday and Cyber Monday 2010 deals.

Walmart Pushing Forward on International eCommerce Expansion

Wal-Mart Pushing Forward on International Ecommerce Expansion

By the ZippyCart Ecommerce Software Reviews Content Team

Retail giant Wal-Mart continues to expand their ecommerce efforts as they look to grow their international online sales, which will help them grow their presence on the Internet. Amazon and Wal-Mart went head-to-head for the 2009 holiday shopping season, starting Black Friday deals about a week before the actual day. This battle continued to heat up through Cyber Monday and through December, as Wal-Mart pushes to become a bigger force in the online retail space. Currently Wal-Mart is running operations in 14 countries which generated just over $400 billion in 2009, and hopes that this global footprint will help them with their international ecommerce expansion. In order to speed up the ecommerce expansion, Wal-Mart has started advertising for new jobs which will help with the international move to increase online sales.



Now that Wal-mart can sell a consumer almost any retail good they could ever need, they plan to bring that product selection to the international markets. Two of the biggest and most important international ecommerce markets that Wal-Mart wants to expand are China and Japan. As of now ecommerce operations for Wal-Mart online exists in the U.S., U.K., and Brazil, but the move into the Asian market makes a lot of sense. Countries like Japan and China are very savvy when it comes to online shopping, and are the perfect market for Wal-Mart to try and build a loyal ecommerce following. It is still unclear how much of Wal-Mart's total sales come via the online sector as they do not disclose those details, but the international expansion is proof that things are trending in the right direction. This holiday shopping season should be great for consumers, as it is likely that Wal-Mart and Amazon will battle it out again to provide the best Black Friday and Cyber Monday 2010 deals.

Regulating Debit Cards: The Case of Ad Valorem Fees

Regulating Debit Cards: The Case of Ad Valorem Fees In addition to signature and PIN debit cards, credit cards and charge ... PIN debit cards used to charge merchants fixed per-transaction ... www.kansascityfed.org/PUBLICAT/ECONREV/PDF/10q1Wang.pdf

Regulating Debit Cards: The Case of Ad Valorem Fees

Regulating Debit Cards: The Case of Ad Valorem Fees In addition to signature and PIN debit cards, credit cards and charge ... PIN debit cards used to charge merchants fixed per-transaction ... www.kansascityfed.org/PUBLICAT/ECONREV/PDF/10q1Wang.pdf

Authentify Releases EFT Verifier™ to Thwart Unauthorized Electronic Fund Transfers by Criminals Employing ZeuS Malware

Authentify EFT Verifier™ Protects Accounts Compromised by ZeuS Malware Preventing the Wrong People Armed with the “Right” Information from Transferring Money from an Account

CHICAGO--(BUSINESS WIRE)--Authentify, the leader in phone based, totally out-of-band authentication, TOOBA, released its ETF Verifier™ application enabling financial applications and payment platforms to alert account owners whenever a new funds transfer destination is added to the user’s account. The process permits the account owner to cancel a transaction they have not initiated.

“The call provides the chance to stop the fraudulent transaction and delivers a red alert that there is a problem.”

Malware “loggers” like ZeuS capture everything typed on a user’s keyboard including bank account numbers and passwords. A criminal must still get funds out of the account. Electronic funds transfer via wire transfer or e-payment applications have become the attack point. Adding a payee account number at an account the fraudster controls is the final step.

“If I break into your home and steal jewelry, I still have to 'fence' the items to get cash,” according to Peter Tapling, Authentify’s CEO. “The fraudsters must still turn those logged keystrokes into cash. Stop them from adding a new payee or transfer number to a compromised account and you stop the theft.”

Authentify’s ETF Verifier™ can be invoked whenever a new payee is added to an online payment or wire enabled account. The Totally Out-of-Band Authentication process or TOOBA, sends an XML message to Authentify’s telephony service center. The message triggers a phone call to a telephone number for the account owner. Transaction details including payee identification is repeated via phone to the account owner and allows the user to approve or cancel the transaction via the telephone keypad.

“If you’re not using your account and you’re called regarding a transfer, you know something is wrong,” according to Tapling. “The call provides the chance to stop the fraudulent transaction and delivers a red alert that there is a problem.”

ETF Verifier™ is available immediately. A demonstration is hosted on the Authentify Web site at www.authentify.com.

About Authentify:

Authentify’s patented totally-out-of-band authentication solution protects online systems from cyber-attack. It requires no new equipment, it's inexpensive, quickly integrated, and customer-friendly relying on telephone technology with which users are already familiar.

© 2010 AUTHENTIFY, INC. U.S. PATENT NOS. 6,934,858 / 7,383,572 / 7,461,258

Contacts

Todd Pauli

Authentify

773.243.0324

todd.pauli@authentify.com

or

Robert Soden

Authentify, Ltd. Hong Kong

+852.9304.6699

robert.soden@authentify.com

Permalink: http://www.businesswire.com/news/home/20100407006852/en/Authentify-Releases-EFT-Verifier%E2%84%A2-Thwart-Unauthorized-Electronic

Authentify Releases EFT Verifier™ to Thwart Unauthorized Electronic Fund Transfers by Criminals Employing ZeuS Malware

Authentify EFT Verifier™ Protects Accounts Compromised by ZeuS Malware Preventing the Wrong People Armed with the “Right” Information from Transferring Money from an Account

CHICAGO--(BUSINESS WIRE)--Authentify, the leader in phone based, totally out-of-band authentication, TOOBA, released its ETF Verifier™ application enabling financial applications and payment platforms to alert account owners whenever a new funds transfer destination is added to the user’s account. The process permits the account owner to cancel a transaction they have not initiated.

“The call provides the chance to stop the fraudulent transaction and delivers a red alert that there is a problem.”

Malware “loggers” like ZeuS capture everything typed on a user’s keyboard including bank account numbers and passwords. A criminal must still get funds out of the account. Electronic funds transfer via wire transfer or e-payment applications have become the attack point. Adding a payee account number at an account the fraudster controls is the final step.

“If I break into your home and steal jewelry, I still have to 'fence' the items to get cash,” according to Peter Tapling, Authentify’s CEO. “The fraudsters must still turn those logged keystrokes into cash. Stop them from adding a new payee or transfer number to a compromised account and you stop the theft.”

Authentify’s ETF Verifier™ can be invoked whenever a new payee is added to an online payment or wire enabled account. The Totally Out-of-Band Authentication process or TOOBA, sends an XML message to Authentify’s telephony service center. The message triggers a phone call to a telephone number for the account owner. Transaction details including payee identification is repeated via phone to the account owner and allows the user to approve or cancel the transaction via the telephone keypad.

“If you’re not using your account and you’re called regarding a transfer, you know something is wrong,” according to Tapling. “The call provides the chance to stop the fraudulent transaction and delivers a red alert that there is a problem.”

ETF Verifier™ is available immediately. A demonstration is hosted on the Authentify Web site at www.authentify.com.

About Authentify:

Authentify’s patented totally-out-of-band authentication solution protects online systems from cyber-attack. It requires no new equipment, it's inexpensive, quickly integrated, and customer-friendly relying on telephone technology with which users are already familiar.

© 2010 AUTHENTIFY, INC. U.S. PATENT NOS. 6,934,858 / 7,383,572 / 7,461,258

Contacts

Todd Pauli

Authentify

773.243.0324

todd.pauli@authentify.com

or

Robert Soden

Authentify, Ltd. Hong Kong

+852.9304.6699

robert.soden@authentify.com

Permalink: http://www.businesswire.com/news/home/20100407006852/en/Authentify-Releases-EFT-Verifier%E2%84%A2-Thwart-Unauthorized-Electronic

SmartCard Marketing Systems Inc. (PINKSHEETS:SMKG) Announces 2010 Outlook - Product Review and Revenue Streams

SAN ANTONIO--(BUSINESS WIRE)--(PINKSHEETS:SMKG) CEO Massimo Barone said, “We are proud to present our 2010 Company Outlook. We believe that this information will allow both our company shareholders along with existing/future clientele the ability to completely understand what our great company has accomplished and achieved during its first important initial years. Our platform stands unique and can be tailored to our many different clientele needs. The current and future economic situation offers SmartCard Marketing Systems Inc. an unlimited amount of growth potential which we aim to capture during the coming years.”



FINANCIAL SERVICES



VelocityMoney Financial Services Portal



The VelocityMoney Financial portal has reached a new pinnacle of service and ease-of use. SMKG has included 4 products and 15 services under one comprehensive web application for Individuals, Businesses and Merchants. In the fourth quarter of 2009 (PINKSHEETS:SMKG) added its proprietary VelocityMoney consumer financial portal to the VelocityMerchant commercial financial management portal. Together they form a complete platform for consumers and merchants to move money, manage their stored-value debit cards, transfer money between international bank accounts in 16 different currencies and make online purchases from participating merchants. The online system allows consumers and merchants to send, collect and manage money online internationally in 19 different currencies.



Products:



Stored Value Cards – Globally-branded Open-Loop Prepaid Debit Cards



One of the most exciting new products to which (PINKSHEETS:SMKG) has acquired the distribution rights is International Stored-Value Debit Cards. These products are in high demand within the niche populations of a) those with no bank account, b) those who want to transfer money to relatives in remote locations bypassing more expensive transfer companies like Western Union, c) companies who want to put all employees, including unbanked employees, on payroll direct deposit, and d) immigrants who are trying to get financially established in their new country. Each card sale represents an average of $40 and $60 per year in residual transaction revenue.



VelocityMoney Prepaid Debit and Gift Card Program - US



(PINKSHEETS:SMKG) has marketing rights to branded Debit cards and Gift Cards under license, processed and managed by its US financial issuer. After doing a thorough market search, management has determined this to be a very unique opportunity to create revenue both through sale of the cards, and, more importantly, through recurring monthly residuals from transactions performed by cardholders.

Canadian Distribution



(PINKSHEETS:SMKG) has distribution rights to a prepaid Debit MasterCard Issued by a Canadian financial issuer. It is one of a few such cards in Canada that can be issued to an individual who does not have a bank account. This represents a huge opportunity to sell cards into a market that has little to no competition. Through its Canadian development office, (PINKSHEETS:SMKG) has significant sales opportunities to recruit resellers of its cards through transaction-based financial service providers such as bankruptcy-asset distribution trustees, check cashing establishments, payroll companies and as a funds distribution mechanism for investment houses and travel companies.



Loading Network



Green Dot Network – One of the biggest obstacles in the debit card business is getting money onto the cardholder’s card. (PINKSHEETS:SMKG) has a contract solution that gives it an advantage in the current marketplace. This solution is the Green Dot Deposit Network.



The Green Dot Financial Network allows cardholders to add cash onto their VelocityMoney cards at tens of thousands of retail locations nationwide including Rite Aid, Walgreens, CVS/pharmacy, RadioShack and WalMart.



ONLINE PIN DEBIT PROCESSING



HomeATM Payment Processing



SMKG integrated the HomeATM PIN terminal to its free Internet-based payment platform, VelocityMoney.com. The terminal plugs into the USB port on a computer with Internet access and a free VelocityMoney.com account. With no more set-up than that, the business can accept any bank's PIN-based debit card for payment. The transaction is basically treated as a cash transaction or ATM withdrawal by the bank...no charge-backs and no reserves.



SMKG receives 1% on payments processed.



MERCHANT PROCESSING



Credit Card Processing



SMKG has written an interface that allows merchants who need to process credit or debit cards remotely to use their mobile devices, such as cell phone or wi-fi to process payments and print out a receipt for the customer. The VelocityMoney Bluetooth Printer has a built-in credit card swipe/reader and thermal printer. It can be used alone or in conjunction with the HomeATM device to process credit and debit cards remotely and securely while printing out receipts for signature capture.



Continue Reading

SmartCard Marketing Systems Inc. (PINKSHEETS:SMKG) Announces 2010 Outlook - Product Review and Revenue Streams

SAN ANTONIO--(BUSINESS WIRE)--(PINKSHEETS:SMKG) CEO Massimo Barone said, “We are proud to present our 2010 Company Outlook. We believe that this information will allow both our company shareholders along with existing/future clientele the ability to completely understand what our great company has accomplished and achieved during its first important initial years. Our platform stands unique and can be tailored to our many different clientele needs. The current and future economic situation offers SmartCard Marketing Systems Inc. an unlimited amount of growth potential which we aim to capture during the coming years.”



FINANCIAL SERVICES



VelocityMoney Financial Services Portal



The VelocityMoney Financial portal has reached a new pinnacle of service and ease-of use. SMKG has included 4 products and 15 services under one comprehensive web application for Individuals, Businesses and Merchants. In the fourth quarter of 2009 (PINKSHEETS:SMKG) added its proprietary VelocityMoney consumer financial portal to the VelocityMerchant commercial financial management portal. Together they form a complete platform for consumers and merchants to move money, manage their stored-value debit cards, transfer money between international bank accounts in 16 different currencies and make online purchases from participating merchants. The online system allows consumers and merchants to send, collect and manage money online internationally in 19 different currencies.



Products:



Stored Value Cards – Globally-branded Open-Loop Prepaid Debit Cards



One of the most exciting new products to which (PINKSHEETS:SMKG) has acquired the distribution rights is International Stored-Value Debit Cards. These products are in high demand within the niche populations of a) those with no bank account, b) those who want to transfer money to relatives in remote locations bypassing more expensive transfer companies like Western Union, c) companies who want to put all employees, including unbanked employees, on payroll direct deposit, and d) immigrants who are trying to get financially established in their new country. Each card sale represents an average of $40 and $60 per year in residual transaction revenue.



VelocityMoney Prepaid Debit and Gift Card Program - US



(PINKSHEETS:SMKG) has marketing rights to branded Debit cards and Gift Cards under license, processed and managed by its US financial issuer. After doing a thorough market search, management has determined this to be a very unique opportunity to create revenue both through sale of the cards, and, more importantly, through recurring monthly residuals from transactions performed by cardholders.

Canadian Distribution



(PINKSHEETS:SMKG) has distribution rights to a prepaid Debit MasterCard Issued by a Canadian financial issuer. It is one of a few such cards in Canada that can be issued to an individual who does not have a bank account. This represents a huge opportunity to sell cards into a market that has little to no competition. Through its Canadian development office, (PINKSHEETS:SMKG) has significant sales opportunities to recruit resellers of its cards through transaction-based financial service providers such as bankruptcy-asset distribution trustees, check cashing establishments, payroll companies and as a funds distribution mechanism for investment houses and travel companies.



Loading Network



Green Dot Network – One of the biggest obstacles in the debit card business is getting money onto the cardholder’s card. (PINKSHEETS:SMKG) has a contract solution that gives it an advantage in the current marketplace. This solution is the Green Dot Deposit Network.



The Green Dot Financial Network allows cardholders to add cash onto their VelocityMoney cards at tens of thousands of retail locations nationwide including Rite Aid, Walgreens, CVS/pharmacy, RadioShack and WalMart.



ONLINE PIN DEBIT PROCESSING



HomeATM Payment Processing



SMKG integrated the HomeATM PIN terminal to its free Internet-based payment platform, VelocityMoney.com. The terminal plugs into the USB port on a computer with Internet access and a free VelocityMoney.com account. With no more set-up than that, the business can accept any bank's PIN-based debit card for payment. The transaction is basically treated as a cash transaction or ATM withdrawal by the bank...no charge-backs and no reserves.



SMKG receives 1% on payments processed.



MERCHANT PROCESSING



Credit Card Processing



SMKG has written an interface that allows merchants who need to process credit or debit cards remotely to use their mobile devices, such as cell phone or wi-fi to process payments and print out a receipt for the customer. The VelocityMoney Bluetooth Printer has a built-in credit card swipe/reader and thermal printer. It can be used alone or in conjunction with the HomeATM device to process credit and debit cards remotely and securely while printing out receipts for signature capture.



Continue Reading