VERITEC ROLLS OUT BLINX ON-OFF™ PREPAID CARD
March 12, 2012 – GOLDEN VALLEY, Minn. — Veritec, Inc. (OTC –VRTC) and its wholly owned subsidiary Veritec Financial Services (VTFS) today announced the roll out of their blinx On-Off™ prepaid toggle Card. The Veritec blinx On-Off™ toggle card uses web-based mobile technology to offer financial cardholders the very best technology in conducting secure financial transactions in real time, protecting personal identity, and financial account security.
Veritec’s new blinx On-Off™ financial card has multiple features that will greatly benefit card holders. The card can easily be toggled on and off by using a mobile phone or the web. Card holders can receive instant notification of card activities and transfers of funds in real time, within the Veritec system. Veritec’s debit card system produces an instant issue non-personalized re-loadable debit card and personalized re-loadable and subordinate family cards. All financial transactions conducted in real time are just a few of the many beneficial features found in the new Veritec’s blinx On-Off™ prepaid card.
“This card is issued by First California Bank pursuant to a license from Visa U.S.A Inc. Veritec is a registered ISO of First California Bank.”
Veritec’s technology includes a Proprietary Secure Financial Card Processing Software Platform and is the approved Third Party Processor of debit cards for banks and Visa. Veritec is also an Independent Sales Organization (ISO) to market Visa Branded Debit cards.
Veritec is the patent holder for proprietary two-dimensional Matrix Symbology, VeriCode® and VSCode®. The Codes assist in the secure identification of people and products. The combination of a financial debit card and a secure identification card make Veritec’s Multi-Purpose Cards unique in its field.
Van Thuy Tran, Executive Chair of Veritec states, “We are all proud at Veritec to have achieved this milestone in the financial card market. Veritec continues to aggressively build our Company surrounded by innovative, patented technologies and card processing systems that will be the corner stone of secure identification and financial transactions while reducing complexity and costs.”
ABOUT VERITEC, INC.
Founded in 1982, Veritec offers a patented line of encoding and decoding software products that utilize the 2-D Matrix Symbology™, which allows users to create, apply, store, or transmit unique identifiers directly on the products or to an electronic device in the form of a coded matrix symbol, which enables automated manufacturing control, as well as identification, tracking, and collection of data via cameras, mobile phones, readers and scanners. The collected data can then be stored in the 2-D barcode available for contemporaneous verification or other user-definable purposes. Veritec’s 2-D Matrix Symbologies, the VeriCode® and VSCodes®, with its incredible robustness, security features, and large data storage capacity, have proven to be the technology of choice for product tracking, identification, and verification in many automated industries. Veritec technologies are also applicable in the Secure Bio-ID Cards to provide positive identification via biometric markers such as fingerprints or pictures. Veritec’s licensed software products have recently been introduced to the banking industries via Stored-Value Debit Cards. In the mobile phone industry, Veritec has patented the “PhoneCodes™” products that allow an individual using the Internet or mobile phones to purchase, send, or receive a gift certificate, ticket, coupon, receipt or transfer money.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This news release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions.
Our SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason unless otherwise required to do so by SEC Regulations.
Van Tran (CEO)
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