Skyrocketing growth of SmartCard

As per recent reports from SmartCard Marketing Systems Inc. their Prepaid Card loading, Pin Debit and Payment processing volume rose to $367,000 USD as of September 2008. A gain in card loading and payment processing in August increased 10 times over last year's August total and was 226% higher above the previous month.

Bruce Baillio, President at SmartCard Marketing Systems Inc. notes that the growth is the result of the company’s continuing efforts to fill backlog of prepaid card orders and the launch of VelocityMoney.com Online Bill Pay service both in Canada and the US.

“The current uncertainty in the worldwide credit markets is actually stimulating demand for our prepaid products and services. When consumers' credit lines are decreased, they turn to prepaid cards to maintain the convenience of using a branded card to make purchases, because their credit cards are topped out. (PINKSHEETS: SMKG) is seeking to capitalize on the move from credit to debit transactions at the point of sale and capture a share of the 26.5+ billion (as of 2006) consumer debit transactions," he says.