News on VerifySmart (TM) Corp
VerifySmart(TM) Corp provides corporate update on expansion activities
Apr 29, 2009 1:06:00 PM
TAGUIG, METRO MANILA, Philippines, April 29 /PRNewswire-FirstCall/ - VerifySmart Corp (VSC) (VSMR: OTCBB): VerifySmart, a global leader in secure and fraud free payment processing services, is pleased to announce material progress against the corporate expansion plan and business objectives. Significant progress has been made in the areas of application development, services marketing and infrastructure expansion as follows:
Application development: The VerifyN'Go version 2.0 authentication engine that can process millions of individual transactions from the VSC infrastructure using secure two factor authentications has been released and is in the production testing phase. The application will be bank and merchant ready by May 2009. A North American Short Messaging Service (SMS) component will be market ready within the same timeframe.
The VerifyGateway service that offers high risk and high volume industries a secure transaction platform is market ready and includes multi language support across English, Japanese and Korean. The next phase of development incorporates the VerifyN'Go authentication engine to create a comprehensive one stop service offering.
The VerifyRemit service integration with our previously announced pilot customer, China Trust has been completed. This secure money transfer service now moves into the next phase of customer demonstration. Application development activities on this service offering will allow VSC to equip financial institutions with the ability to offer their merchants full administrative control over their remittance solutions. Additionally, the system can be used for payroll and payout solutions that utilize the VeriSmart Card whereby fund disbursement across primary and subsidiary cards can be managed conveniently, securely, affordably, and instantly.
The VeriSmart Card offering is undergoing modifications with direct feedback and engagement from Visa International. Final approvals and testing are underway.
Marketing progress:
VSC has launched a marketing strategy targeting the Health care vertical and has garnered significant interest from a number of pharmaceutical companies. These organizations have requested consultation on VSC's VerifyNGo and VerifyGateway for secure processing.
Infrastructure Expansion:
VSC has received numerous responses to its request for additional data centre facilities in the Philippines that provide geographic redundancy. Suitable facilities and multiple configurations are being reviewed by the VSC technical team and options are being short listed. These additional facilities will augment the existing robust infrastructure that currently supports the VSC service offerings and will allow for rapid growth and expansion of secure transaction processing.
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.
Forward Looking Statements
This current report 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 current report which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. These statements include but are not limited to: The completion of the VerifyN'Go version 2.0 production testing phase, that the application will be bank and merchant ready by May 2009, that a North American Short Messaging Service (SMS) component will be market ready within the same timeframe, that we will acquire additional data centre facilities in the Philippines or that these additional facilities will augment the existing infrastructure that currently supports the VSC service offerings and will allow for rapid growth and expansion of secure transaction processing, that the VerifyGateway service next phase of development that incorporates the VerifyN'Go authentication engine will create a comprehensive one stop service offering, that the VerifyRemit secure money transfer service will allow VSC to equip financial institutions with the ability to offer their merchants full administrative control over their remittance solutions.
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 StreetE-Square,
Fort Bonifacio Global City, TaguigMetro Manila, Philippines
Investor Relations
Danny Gravelle
Goal Capital LLC
1-949-481-5396
Questions or Feedback
inquiry@verifysmart.com
www.verifysmart.com
SOURCE VerifySmart Corp.
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Investor Relations
Danny Gravelle
Goal Capital LLC
(949) 481-5396
