GOLDEN VALLEY, Minn.,
March 12, 2012 /PRNewswire/
-- Veritec, Inc. (OTC –VRTC) and its wholly owned subsidiary
Veritec Financial Services (VTFS) today announced the roll out of
their Blinx On-Off™ prepaid toggle card. The Veritec Blinx
On-Off™ toggle card uses web-based mobile technology to offer
financial card holders the very best technology in conducting
secure financial transactions in real time, protecting personal
identity, and financial account security.
Veritec's new Blinx On-Off™ 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™ prepaid card.
NOTE: This card is issued by First California Bank pursuant to a
license from Visa U.S.A Inc.
Veritec is a registered ISO of First California Bank.
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; www.blinxcard.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™, 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 applicable 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™" 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 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.
Contact:
Van Tran (CEO)
763-253-2670 (office)
612-991-7928 (cell)
vtran@veritecinc.com
SOURCE Veritec, Inc.