Friday, June 11, 2010

SmartCard Marketing Systems Inc (PINKSHEETS:SMKG) Announces New Sales & Distribution Agreement with Latin Phone for Open-Loop Prepaid Debit Cards

SAN ANTONIO, TX, June 11 /PRNewswire-FirstCall/ - SmartCard Marketing Systems Inc.(PINKSHEETS:SMKG) CEO Massimo Barone Stated "We are very pleased to announce a significant joint marketing campaign with a major telecom company in the Hispanic marketplace, Latin Phone. They will market our open-loop (accessible on major payment networks and atm's worldwide) prepaid debit cards to their existing customer base of over 800,000 customers."

The company's prepaid products are preferred by consumers who are traditionally un-banked or under-banked. Mr. Barone added, "The extended recession has brought more focus on our prepaid cards." Tim Sloane, Vice President and Director of the Prepaid Advisory Service at Mercator Advisory Group, recently said about prepaid cards: "No other payment market is riding out the current economic downturn as effectively as prepaid, and I can't think of any better payments market to be in during a recession."

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