SmartCard Marketing Sys Inc (OTC: SMKG) & Clear Technologies sign partnership to launch End2End Wireless EMV Paymentsin India
March 27 2017 - 8:45AM
InvestorsHub NewsWire
SmartCard Marketing Sys Inc (OTC:
SMKG) & Clear Technologies sign partnership to launch
End2End Wireless EMV MPOS & EPOS Solutions, Mobile Wallet ,
Gift Cards and Fintech Initiatives for the India
Market
NEW YORK, NY -- March 22, 2017 --
InvestorsHub NewsWire
SmartCard Marketing Systems, Inc. (OTC:
SMKG) & Clear Technologies signed strategic partnership to
launch End2End Point of Sale Solutions, Mobile Wallet and Gift
cards for India. This partnership between
SmartCard Marketing Systems, Inc. & Clear Technologies will
enable the launch of the following exciting solutions and services;
Bundled POS solution for SME Merchants with a suite of payment,
including Wireless EMV MPOS & EPOS and Mobile wallet and gift
cards for the public to carry out secured financial transactions
between their friends and families and other
merchants.
Massimo Barone CEO stated “It’s an exciting
time to be in the payment industry with the endless opportunities
in emerging markets like India. The partnership with Mohamed comes
at a great time in our growth cycle which establishes a fundamental
partnership with an enriched understanding of the local
marketplace. In the past year we had signed a partnership with
GlobalEserve in India which we have completed integration of the
local debit network for both b2b and b2c payments . There are many
industries in India which are growing rapidly which lack the
Payment acceptance technology needed to implement seamless
payments.”
Mohamed Ali, CEO of Clear Technologies adds
"We are very excited to launch bundled solution for SME merchants
in India. Our comprehensive solution enhances and complements
India’s digital economy drive. By utilizing the latest technology
and by combining it with the expertise of both companies, we are
confident that we can provide excellent user experience to our
customers.
India’s Economy, Payments & Banking
Industry
The Indian economy advanced 7 percent
year-on-year in the last three months of 2016, slowing from an
upwardly revised 7.4 percent rise in the previous quarter but
beating expectations of a 6.4 percent growth. The expansion was
mainly driven by a surge public spending and agriculture. The GDP
is expected to grow 7.1 percent in the fiscal year ending in March
2017. GDP Annual Growth Rate in India averaged 6.10 percent from
1951 until 2016, reaching an all-time high of 11.40 percent in the
first quarter of 2010 and a record low of -5.20 percent in the
fourth quarter of 1979.
source; http://www.tradingeconomics.com/india/gdp-growth-annual
India
Cards and Payments market
overview
In terms of number of cards in circulation,
the Indian payment cards market is expected to grow at a CAGR of
10% over the period 2015-2020. The growth of cards in circulation
in India, can be attributed to expansion of ATMs and POS terminals,
growing disposable income and greater acceptance of payment cards
in the country
source; http://www.prnewswire.com/news-releases/india-cards-and-payments-market---size-share-development-growth-and-forecast-to-2020-300380035.html
About India’s Banking
Industry
There are
currently 27 public sector banks in India out of which 19 are nationalised banks and 6
are SBI and its associate banks, and two are IDBI Bank and Bharatiya
Mahila Bank, which are categorised as other public sector banks.
There are total 93 commercial banks in India.
About Clear
Technologies
Clear Technologies is a CRM Products &
Services company head quartered in New Jersey. Since its inception
in 1999, it has helped several Fortune 500 companies such as in the
US and India to deploy software solutions that enhances Employee
Productivity & Management Efficiency, maximizing Revenue &
Bottom-line Profitability. Some of the customers of Clear
Technologies are; Bed Bath& Beyond, Nextel-Sprint, Tyco, HP,
Microsoft, Autodesk, American Red Cross, FINRA, E&Y
Financial
Services, etc. For more information, go
to www.cleartechnologies.com
About SmartCard Marketing Systems, Inc.
(OTC:SMKG)
SmartCard Marketing Systems Inc. (SMKG:OTC)
is a Fintech payment accelerator Co & solutions provider to the
payments industry, cloud-based EMV host Acquiring & Issuing
solutions to banks,
telecoms and enterprise customers. In addition, the company's
in-house advisory services offer customers proprietary software
solutions including Genorocity.com, a coupon and incentive
platform
for the Retail & Events industry,
Check21SAAS.com a Remote Deposit Check solution for X9 clearing and
VelocityMWallet.com, a transaction payment ecosystem for
alternative payment solutions & processing. For more
information, go to www.smartcardmarketingsystems.com.
We
seek safe harbor
contact; 1-844-THE-PAYMENT
news@smartcardmarketingsystems.com
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