GOLDEN VALLEY, Minn.--(BUSINESS WIRE)--Veritec, Inc. (OTCBB:VRTC), a developer of mobile banking debit card solutions and a pioneer and developer of a proprietary two dimensional barcode (VSCode), today announces it is rolling out a Visa branded multi-purpose card. It will have Veritec's proprietary VSCode on the back of the card.
Veritec's VSCode is a secure data storage container that holds several thousand bytes of data. Having the VSCode on the back of the prepaid card will enable banking institutions, governments, and organizations to use it as a multi-purpose financial and secure ID card.
About Veritec, Inc. and VTFS
Veritec is registered in Visa Third-Party Agent program as an Independent Sales Organization and Merchant Servicer. Veritec may promote and sell Visa branded card programs and provide back-end cardholder transaction processing services on behalf of Security First Bank. Veritec is a pioneer and developer of proprietary two-dimensional barcodes called VeriCode® and VSCode. The company's products include its proprietary 2D barcodes, multi-purpose financial and ID cards, and PhoneCodes products for delivering electronic tickets, coupons and prepaid cards to consumers (www.veritecinc.com). Veritec Financial Systems, Inc. is a wholly owned subsidiary of Veritec, Inc. (www.vtfs.com).
About Security First Bank
Security First Bank is a California commercial bank authorized to engage in the commercial banking business. The Bank operates from its main office in Fresno, California. The Bank offers a wide variety of deposit, loan and other financial products and services.
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.
