SmartCard sees a 407% increase in transactions processing

 SmartCard Marketing Systems Inc. reported that its Prepaid Card loading, Pin Debit and Bill Payment processing volume increased 407% for the month of August 2009 as compared to the same period last year.

The company says that its processing volume declined if compared with record highs in the first half of the year, but still the number of transactions climbed up by 370% from the same month compared to last year.

CEO Massimo Barone said: "We are aggressively pursuing new card business in the international arena and possibly acquiring existing programs under management on a revenue share model to decrease buy rates from Financial Institution Issuers. This will increase transactions and profit margins from transaction based revenues increasing our portfolio of merchants with strong interest from struggling card management companies not meeting their contractual minimums. We strongly believe that as Banks regain momentum from these difficult times that consolidation will occur and demand for program management companies such as SmartCard will become a 1st tier provider solution for non-interest generating revenue sources."