Veritec, Inc. (PINKSHEETS: VRTC) today announced that it has
entered into an agreement with Poder de Compra, headquartered in
Mexico City, Mexico and its Philippines Integration Partner,
NationlinkNet, to provide Veritec's Bio Identification Technologies
(utilizing Veritec's 2-D VSCode(R) Symbology) to the Philippines
Banking customers starting out with over 20 rural banks in the
country.
"We believe that this partnership will open markets to Veritec's
incredible technologies not just in the Philippines but throughout
Southeast Asia and South America as well," said Van Tran, CEO of
Veritec. "Poder de Compra is pleased and honored to have formed this
partnership with Veritec to bring Veritec's Bio-ID technologies to
the Philippines," said Richard Raskin, Managing Director of Poder De
Compra. "With our proprietary software and hardware solutions, I am
confident that this great business relationship with Poder de Compra
will add much value to our clients, our strategic partners, and our
distributors," said Ms. Tran. Further details about Veritec's
technologies and its multiple applications can be found on Veritec,
Inc.'s website at www.veritecinc.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(R) and VSCodes(R),
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
reloadable prepaid cards and gift cards. In the mobile phone
industry, Veritec has patented the "PhoneCodesCopyright" 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.
Information about Veritec technologies is available at
www.veritecinc.com.
ABOUT PODER DE COMPRA
The Company facilitates cross border transactions by individuals
between countries. Currently, the company is working on several cross
border remittance programs between the United States and countries
such as Mexico, the Philippines and India. The Company has engaged a
consortium of banks resulting in an extensive network of products
available to a broad spectrum of consumers in the primary country and
flowing to other countries.
ABOUT NATIONLINKNET: www.nationlinknet.com
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.
SOURCE: Veritec, Inc.