Home | Contact Us | VendTek Systems Inc.     

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.

 

TOP

   

Home | Contact Us | VendTek Systems Inc.                               

Now Prepay Corp.  |  Last updated 2003-02-11