News for 'VRTC' - (Veritec Rolls Out Blinx On-Off(TM) Smart Toggle Debit Card(TM))
GOLDEN VALLEY, Minn., March 6, 2012 /PRNewswire via COMTEX/ -- Veritec, Inc.
(OTC -VRTC) and its wholly owned subsidiary Veritec Financial Services (VTFS)
today announced the roll out of their Blinx On-Off(TM) Smart Toggle Debit Card.
The Veritec Blinx On-Off(TM) 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
Veritec's new Smart Toggle Card(TM) 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(TM) Smart
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."
Further details about Veritec's technologies and its multiple applications can
be found on Veritec, Inc.'s website at www.veritecinc.com; www.vtfs.com;
ABOUT VERITEC, INC.
Founded in 1982, Veritec offers a patented line of encoding and decoding
software products that utilize the 2-D Matrix Symbology(TM), 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 products tracking, identification, and verification in
many automated industries. Veritec technologies are also appli cable 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(TM)" 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
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
Contact:Van Tran (CEO) 763-253-2670 (office)612-991-7928
SOURCE Veritec, Inc.
Copyright (C) 2012 PR Newswire. All rights reserved
INDUSTRY KEYWORD: FIN
SUBJECT CODE: PDT