VerifySmart(TM) Corp Signs Authentication and Gateway Services Agreement with Ellick Corporation
June 05 2009 - 8:30AM
PR Newswire (US)
TAGUIG, METRO MANILA, Philippines, June 5 /PRNewswire-FirstCall/ --
VerifySmart(TM) Corp. (VSMR: OTCBB): VerifySmart(TM) (VSC), a
global leader in secure and fraud free payment processing services,
is pleased to announce it has signed an agreement with Ellick
Corporation to provide VSC's VerifyGateway, VeriSmart Card and
VerifyNGo suite of services. As part of this agreement, Ellick
Corp. will provide VSC with VOIP and Contact Centre capabilities in
Manila. This agreement will provide Ellick Corp. with a secure and
scalable transaction processing platform using VSCs proprietary
technology. Under the terms of the agreement, Ellick Corp. will use
the VSC solution to reduce fraud and chargeback rates associated
with its high risk transaction volume across its customer base. In
addition, Ellick Corp. will deploy the VeriSmart Card to its
applicable customer base to provide a fraud free card processing
solution. Under the terms of the agreement VSC will receive a per
transaction verification fee, a VeriSmart Card distribution fee per
card and a card reloading fee per reload. The terms of this
agreement are applicable for a two year duration, renewable
thereafter. Projected revenue is anticipated to be in excess of
$3,200,000US per quarter. This agreement represents another key
milestone in the realization of VSC's strategy to become the
leading worldwide authentication provider in securing financial
transactions. About VerifySmart(TM) Corp. VerifySmart(TM) Corp. is
a fully reporting issuer with the shares traded on the "OTCBB". The
company's mandate is to market, sell and manage fraud prevention
products and services as an exclusive licensee. An international
company, VerifySmart's(TM) patent-pending technology is garnering
world wide attention and rapidly gaining acceptance across a
security challenged industry. About Ellick Corporation. Ellick
Corporation operates a major order processing and client services
contact centre in Manila. The company provides services across key
industry verticals including Health Care and Pharmaceuticals.
Forward Looking Statements This news release contains
"forward-looking statements", as that term is defined in Section
27A of the United States Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Statements in this news
release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future, including but not
limited to: that Ellick Corp. will use the VSC solution to reduce
fraud and chargeback rates, that Ellick Corp. will deploy the
VeriSmart Card to its applicable customer base, any fees that VSC
may receive under the agreement, and that projected gross revenue
is anticipated to be in excess of $3,200,000 per quarter. Actual
results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among
others, the inherent uncertainty of financial estimates and
projections, the competitive and regulatory environment for start
up software companies, stock market conditions, unforeseen
technical difficulties and our ongoing ability to operate a
business and obtain financing. These forward-looking statements are
made as of the date of this current report, and we assume no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements. Although we believe that our
beliefs, plans, expectations and intentions contained in this
current report are reasonable, there can be no assurance that such
beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consult all of the information set forth
herein and should also refer to the risk factors disclosure
outlined in our annual report on Form 10-K for the 2008 fiscal
year, our quarterly reports on Form 10-Q and our other periodic
reports filed from time-to-time with the Securities and Exchange
Commission pursuant to the Securities Exchange Act. Corporate
Headquarters Fort Legend Towers, Suite 2002 - 3rd Avenue corner
31st Street E-Square, Fort Bonifacio Global City, Taguig Metro
Manila, Philippines Investor Relations Danny Gravelle Goal Capital
LLC 1-949-481-5396 Questions or Feedback
http://www.verifysmart.com/ DATASOURCE: VerifySmart Corp. CONTACT:
Corporate Headquarters: Fort Legend Towers, Suite 2002 - 3rd Avenue
corner 31st Street, E-Square, Fort Bonifacio Global City, Taguig,
Metro Manila, Philippines; Investor Relations: Danny Gravelle, Goal
Capital LLC, (949) 481-5396; Questions or Feedback: ,
http://www.verifysmart.com/
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