TMCnet News
VendTek Systems announces a new SaaS partner in Ghana(Canada Newswire Via Acquire Media NewsEdge) TSX Venture Exchange: VSI VANCOUVER, Sept. 22, 2011 /CNW/ - VendTek Systems Inc (TSX-V - VSI) (the "Company" or VendTek"), a developer and licensor of software for the global pre-paid and financial services market, is pleased to announce a new SaaS partner in Ghana: Agoo Mobile LTD ("Agoo Mobile"). Agoo Mobile has paid a deposit and VendTek expects to launch by year-end. The population of Ghana is 25 million and of this 17.4 million are mobile phone subscribers.1 Many more people in Africa use mobile phones than in any part of the world. There are currently over 500 million mobile subscriptions and mobile penetration has risen from just five percent in 2003 to well over 50 percent today. Mobile phone usage in Africa has increased dramatically over the past five years, but there is still potential for enormous growth. Kenya, Ghana, Tanzania and Cote d'Ivoire have also accounted for the change in the distribution of mobile connections. The Ghana Business News report states that the increase in the number of mobile cellular subscriptions over the last five years has defied all predictions and Africa remains the region with the highest mobile growth rate.2 Ninety five percent of mobile phone subscriptions in Africa are prepaid. 3 VendTek's SaaS solution allows the Company to leverage its existing operations, infrastructure and core competencies while at the same time letting international customers focus on growing their business quickly, without the distraction and effort of setting up a back office system. The SaaS solution takes advantage of devices that can use the internet to securely connect to the Company's North American servers. These devices include POS terminals that use a cellular data connection, mobile phones and PC's running eFresh PC software. Depending on the extent of the services provided, VendTek is able to charge a license fee to those customers using its SaaS offering in line with its traditional licensing arrangements. The strategy further benefits the Company by deepening the relationship between VendTek and its customers. "We are very pleased to be working with Agoo Mobile," said Doug Buchanan, President and Chief Executive Officer of VendTek. "This is the third SaaS customer we have partnered with this year in Africa. Africa is also a compelling market for the adoption of our new e-Wallet technology. " Agoo Mobile was established to build out a network of distribution points within Ghana for the electronic delivery of top up mobile recharge. "This is part of the growing trend in the region to move away from physical scratch cards. We are pleased to have selected VendTek as our technology partner in this endeavor and we expect to reach 5,000 distribution points in 24 months." Said Kojo Bonsu, Chairman of Agoo Mobile. About VendTek VendTek develops and licenses automated transaction system software and supporting technologies. VendTek's customers, subsidiaries and its Now Prepay division use e-Fresh™ software to build electronic, prepaid services networks that enable consumers to purchase prepaid products and services via POS and self-serve terminals connected to a central server. This system creates significant value through improved efficiencies compared to a traditional distribution model. e-Fresh™ reduces shrinkage and inventory requirements for vendors while improving consumer access to prepaid products and services by completely eliminating physical cards and vouchers. VendTek has deployed its software around the world including Canada, United States, Asia, the Middle East and Africa. For further information please visit the Company'swebsites www.vendteksystems.com and www.nowprepay.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. ___________________________ 1Mobile Number Portability: Ghana set to go http://www.ghanabusinessnews.com/2011/03/08/mobile-number-portability-ghana-set-to-go/2http://www.ghanabusinessnews.com/2010/01/04/more-in-africa-use-mobile-phones-than-on-any-other-continent/ 3 Africa Mobile Factbook 2011 |