TORONTO, ONTARIO--(Marketwire - Jan. 17, 2013) - SelectCore Ltd. ("SelectCore" or the "Company") (TSX VENTURE:SCG) a leader in prepaid payment solutions, today announced its new online bill payment service.
This new service is designed to allow consumers to pay their bills quickly and easily with their prepaid stored-value card account.
The landscape of online bill payment has changed significantly over the last decade with more and more consumers embracing the technology. In 2013 alone, 30.3 billion online bill payments will be made globally.
SelectCore is now opening up a new market for online bill payment, bringing this valuable financial tool to underbanked consumers who do not have access to traditional banking.
Underbanked consumers typically have to wait in long lines at check cashing centres to purchase money orders and then mail in their payments. Paying online and on time saves consumers time and money including travel, postage and late fees.
Cardholders including government beneficiaries will be able to safely and conveniently pay their bills any time of day from anywhere online. The service supports online payments to thousands of payees including utility companies, cable providers, telecom carriers, landlords and more. The platform also keeps a record of all payments processed so cardholders can track and have more control over their spending.
Online bill payment is the latest in SelectCore's line-up of innovative prepaid banking tools that include email and text message balance alerts, mobile applications, card-to-card money share, Interac online top-up, and more. As SelectCore continues to broaden its product development initiatives, this service will encompass mobile banking and peer-to-peer payments.
"Millions of underbanked consumers are not afforded the same financial tools that the majority of the population enjoys," said Keith McKenzie, CEO of SelectCore. "We are dedicated to delivering new, innovative solutions that provide financial empowerment to an important demographic market."
SelectCore Ltd. (TSX VENTURE:SCG) is a pioneer and leader in prepaid payment solutions for underserved markets. Founded in 1999, the Company offers a range of prepaid products and services from stored-value cards to mobile top-up that provide financial empowerment to a market of millions of under-banked consumers. SelectCore has been ranked among Canada's fastest growing companies by Profit Magazine four times in the past six years and was included in the 2011 Deloitte Technology Fast 500 list of North America's fastest-growing technology companies. For more information visit www.selectcore.com.
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information in this press release includes our expectation on implementation of the program and expected date of further press release. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks related to the regulatory approval process, market and financing conditions as well as risks associated with the prepaid telecom and prepaid financial industries, changes in project parameters as plans continue to be refined as well as those risk factors discussed in the Company's management's discussion and analysis for most recent financial reporting period, available on www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.