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Datawest
Develops New Terminal Application for the Delivery
of
Pre-Paid Cellular Services
November
27, 2003. Vancouver, BC - Datawest Solutions Inc.
(TSX: DS) today announced that it has completed
development of a new version of the Hypercom ICE
5500 terminal application that enables retailers
to sell prepaid cellular airtime to consumers
via POS terminals. At present, Datawest operates
over 3,300 Hypercom ICE 5500 terminals and has
over 5,200 POS terminals on its financial transaction
processing switch.
Earlier
this year, Datawest announced an agreement with
Now Prepay Corp. ("Now Prepay"), a wholly
owned subsidiary of VendTek Systems Inc. (TSX-V:
VSI), to provide a new value-added product via
point of sale (POS) terminals. The solution permits
VendTek's e-Fresh software application for prepaid
telecommunications products (including wireless
service) and financial services to be offered
on Hypercom POS terminals that Datawest has deployed
to retailers through Independent Sales Organizations.
Datawest previously certified the e-Fresh software
on Ingenico and Verifone POS terminals enabling
customers to use Now Prepay's application along
with specific Datawest payment applications. e-Fresh
is compatible with debit and credit card payment
applications and does not compromise security
or ease of use for the consumer.
"We
are broadening our suite of products in the area
of electronic prepaid services," said Michael
Kelso, Datawest's president, Payment Solutions
Group. "This compliments our comprehensive
line of payment solutions, including credit and
debit card processing, cash back and convenience
fee services. Through the use of the Hypercom
ICE 5500 terminal, we are seeking to fulfill the
growing demand for electronic prepaid services
and provide our client base with a value-added
service through the Now Prepay server and the
e-Fresh software," stated Mr. Kelso.
Now
Prepay President, Doug Buchanan, said; "It's
another great step for Now Prepay because the
Hypercom solution specifically enables e-Fresh
to be offered to thousands of terminals operated
by Datawest's customers. The e-Fresh application
compliments the other value added applications
that Datawest is offering. Datawest's terminals
provide their customers enhanced ways to offer
prepaid services via electronic delivery using
e-Fresh software. We're very supportive of Datawest's
application developments and it's great to be
working with them."
About
VendTek and Now Prepay
(www.vendteksys.com
/
www.nowprepay.com)
VendTek Systems Inc. develops, markets, and sells
e-Fresh, which is a suite of software applications
use to electronically distribute prepaid telecommunication
products and financial services. Commercialization
of
e-Fresh under license is VendTek's strategy to
create sustainable and recurring revenues.
VendTek's customers and its subsidiaries, Now
Prepay Corp. and VendTek Systems Technologies
(Beijing), are using e-Fresh software to build
electronic, prepaid services networks which enable
consumers to purchase prepaid services via POS
and self-serve terminals connected to a central
server. This system creates significant value
through improved efficiencies compared to the
traditional distribution paradigm. e-Fresh reduces
shrinkage and inventory requirements while improving
consumer access to prepaid services since it is
completely electronic and eliminates physical
cards and vouchers.
For
more information, please contact Investor Relations
at 1-800-806-4958 or 604.940.2239 or via e-mail
investment@vendteksys.com.
About
Datawest
(www.datawest.ca)
Datawest
Solutions Inc. is a leading provider of innovative
banking and payment technology solutions. Datawest's
Banking Solutions Group is a key provider of outsourced
banking technology to Canadian credit unions,
integrated with advanced phone and Internet banking
solutions, innovative technology for web-based
experience management solutions, and customer
relationship management (CRM) systems. The Payment
Solutions Group manages Canada's largest ATM network
and develops and delivers electronic payment products
and services, including fast, secure ATM and POS
systems and electronic funds transfer transaction
processing, device management and monitoring.
Drawing on its operational and applications expertise,
Datawest also provides professional services for
implementation of banking and payment systems
in major financial institutions and other financial
services organizations.
Datawest
is a public company traded on the Toronto Stock
Exchange under the symbol "DS".
More
information can be found on the corporate web
site at www.datawest.ca.
Forward-Looking
Statements
Certain
statements in this news release are not historical
and may constitute forward-looking statements
reflecting Datawest Solutions Inc.'s current expectations
in the banking and payment solutions businesses.
Investors are cautioned that all forward-looking
statements involve risks and uncertainties, including,
without limitation, changes in market and competition,
technological and competitive developments, cooperation
and performance of strategic partners, and potential
downturns in economic conditions generally. Forward-looking
statements are based on management's estimates,
beliefs and opinions on the date the statements
are made. Datawest assumes no obligation to update
forward-looking statements if circumstances of
management's estimates, beliefs or opinions should
change. Additional information on these and other
potential factors that could affect the company's
financial results are detailed in documents filed
from time to time with the Ontario Securities
Commissi!
on.
-
end -
For
more information contact:
Datawest
Solutions
Michael Thomson
Director, Corporate and Investor Relations
Tel: 604.714.1855
Ir@datawest.ca
This release contains forward-looking statements
within the meaning of the "safe harbor''
provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These statements are based
on management's current expectations and beliefs
and are subject to a number of risks and uncertainties
that could cause actual results to differ materially
from those described in the forward-looking statements.
The Company assumes no obligation to update any
forward-looking information contained in this
news release
The
TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or
accuracy of this release.
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