FNDS3000 Corp has Integrated Their Platform With the Central ATM Switch in South Africa
June 24 2008 - 6:00AM
PR Newswire (US)
PONTE VEDRA BEACH, Fla., June 24 /PRNewswire-FirstCall/ -- FNDS3000
Corp (OTC:FDTC) (BULLETIN BOARD: FDTC) (Frankfurt: "FT4," A0MWLG)
announces that it has completed the integration of their platform
with Bankserv to allow their cards to be used at any ATM throughout
South Africa. FNDS3000 BIN (Bank Identification Number) issued
through a South African Bank has been loaded at all the banks in
South Africa so that cards processed by FNDS3000 can be used at
virtually all ATMS located in South Africa. Additionally live
transactions have been successfully performed at all the major
banks in South Africa as well as many of the smaller banks.
Victoria Vaksman, EVP of FNDS3000 stated, "We are excited to report
that our platform has successfully integrated with the local
transactional switch, utilized by all banks in South Africa. This
integration and intensive testing with six different banks allows
us now to offer to our customers prepaid cards which can be used at
any ATM in the country. This is a very important milestone which
allows our company to become an important player in the South
African financial sector market" Pieter Cilliers, Bankserv CEO
stated, "We are pleased to have concluded such a successful project
with FNDS3000. It demonstrates the value we can offer the banking
community, both locally and abroad, and will broaden the financial
services available in South Africa by giving cardholders instant,
easy access to cash." About Bankserv Bankserv is an automated
clearing house processing high volumes of payment transactions. The
company's electronic switching, settlement and associated
value-added solutions enable financial institutions to deliver
cost-effective, efficient services to their customers. Founded on
cooperation among the country's leading banking institutions,
Bankserv provides the platform on which a large part of South
African national payment system is based. The company processes
around 7 trillion worth of transactions per annum. Simplicity of
interoperability drives Bankserv's approach to the market. The
company leverages its professional infrastructure to integrate bank
systems and communication environments. This limits costs, controls
risk and reduces complexity. Bank serve operates within an
environment of trust. The company ensures its customers' business
continuity by running failsafe systems 24 hours a day, 7 days a
week, 365 days a year and delivering to high service level
agreements" About FNDS3000 Corp FNDS3000 Corp is a financial
services company that provides prepaid and debit cards to the over
1 Billion working population worldwide who do not have a bank
account. This market is estimated at over $100 Billion on an annual
basis. The Industry average revenue for prepaid payroll cards is
$12.00 per month per card in the U.S. and Europe. Our payroll card
product allows the employer to replace payroll checks for their
un-banked and other workers. In addition it allows employers to use
the card where they now have to pay their employees in cash, which
is estimated to be over 50% of the worldwide working population.
Our cards allows for the domestic and international money transfer
providing an inexpensive, safe and secure alternative to
traditional money transfer companies like Western Union(R) and
MoneyGram(R), a market estimated to be over $100 Billion annually.
Our suite of card products can be used at millions of retailers and
ATM's on a worldwide basis. Other services include Gift cards, bill
pay, prepaid cellular, etc. Matters discussed in this press release
contain forward looking statements as defined under the Private
Securities Litigation Reform Act of 1995. Investors are cautioned
that such forward looking statements involve risk and
uncertainties, which could significantly impact the actual results,
performance or achievements of the Company. Such risks and
uncertainties include, but are limited to, the time frame for
production of revenue, product development and commercial
introduction, the impact of rapid price and technological change
and competition, manufacturing and supply uncertainties and other
risks as may be detailed from time to time in the Company's
periodic reports filed with the Securities & Exchange
Commission. DATASOURCE: FNDS3000 Corp CONTACT: David Fann,
President, FNDS3000Corp, +1-904-273-2702,
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