Freeport Capital Inc (FAS: CNSX) Hybrid Paytech Asia Inc. partners with BancNet Inc. the largest banking consortium in the Philippines
(Canada Newswire Via Acquire Media NewsEdge)
MONTREAL and MANILA, Philippines, Nov. 9, 2012 /CNW Telbec/ - (Freeport
Capital FAS: CNSX), - Freeport Capital Inc. a leader in Mobile Credit
and PIN Debit payment solutions, announces that its subsidiary Hybrid
Paytech Asia Inc. has successfully signed a Managed Service Agreement
with Bancnet Inc., the largest electronic banking consortium in the
Philippines. Hybrid will become an authorized Point of Sale/Service
(POS) hardware provider to BancNet and will be working cooperatively to
integrate standard POS terminals and Mobile handheld technology to the
BancNet POS network.
This partnership is in line with BancNet's continuing effort to further
expand its network of payment terminals where cardholders of its 99
member banks can pay for purchases using their cards. BancNet is
currently interconnected with other ATM and POS networks in the country
- Expressnet and Megalink, and with China's Union Pay. The partnership
will further expand this network to include target merchants of Hybrid
Paytech Enterprise and SME solutions.
"Hybrid Paytech Asia's breadth of merchant services and thoroughness of
compliance with current and emerging payment standards set them apart
as a mobile payment provider," said Robert Blas, president of BancNet
Inc. "We are happy to partner with a corporation that has an in-depth
knowledge of the global payment environment to complement our existing
payment offerings to our member banks."
"The initial implementation will be as a standard BancNet terminal
provider but we look forward to progressing our relationship to include
mobile payments via Hybrid Paytech's mobile ecosystem that targets
Smart Phones, Tablets, PDA's and other mobile devices supporting
Android, Windows Mobile, BB, and Apple iOS operating systems," said
Gary Repchuk President of Hybrid Paytech Asia Inc.
About BancNet, Inc.
BancNet is the largest Automated Teller Machine (ATM) consortium in the
Philippines, with 99 member banks and more than 8,000 ATMs nationwide.
It is also the country's first multi-bank, multi-channel electronic
payment network. Current services also include Internet Banking, Mobile
Banking, payment via POS, and e-banking outsourcing services.
About Freeport Capital Inc.
First Equity Strategy LLC (DBA; Hybrid Paytech) is a subsidiary of
Freeport Capital Inc. Based in Montreal, Canada, Hybrid Paytech is a
technology leader in the mobile payment space for EMV, Credit and Pin
Debit acceptance offering an Enterprise Ready Platform (ERP) enabling
Processors and Acquirers with quick merchant adoption solutions. With a
global footprint, Hybrid Paytech is an enabler of easily deployable
payment systems for Smartphones, Tablets, PDA's focusing on encryption
and authentication for merchants in the Fleet, Delivery, Logistics,
Transit, Government, Hospitality and "on the go" Retail industries.
For further information on Hybrid PayTech, please visit www.hybridpaytech.com and click on our corporate video presentation http://www.youtube.com/watch v=XvZHrck2eag&feature=youtu.be.
The Canadian National Stock Exchange (CNSX) has not reviewed this news
release and does not accept responsibility for its adequacy or
accuracy. This news release does not constitute a solicitation to buy
or sell any securities in the United States.
WARNING: This news release may contain forward looking statements based
on the assumptions and judgments of management regarding future events
or results that may prove to be inaccurate as a result of exploration
and other risk factors beyond its control, and actual results may
differ materially from the expected results.
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