Phoenix Purchases National Merchant Solutions Company Revenue Streams and POS Terminal Assets
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LAS VEGAS, Sept. 21 -- Phoenix Technology Holdings (Canada) Inc has signed an agreement with National Merchant Solutions Inc (NMS) to acquire all of the NMS terminal assets and revenue streams with an effective closing date of October 1, 2007. This purchase will give Phoenix the ability to substantially accelerate the implementation of the SCTN Company's patented loyalty technology in the National Merchant Solution client base by presenting an offering that combines debit, credit, gift cards and loyalty as a single offering.
National Merchant Solutions contractual agreements include Yum Restaurants International (Pizza Hut), Domino's Pizza, Gino's Pizza and Coffee Time as well as several other companies throughout Canada.
NMS has been processing debit/credit and gift cards transactions at 300 preferred locations throughout Canada over the last 12 months using approximately 1,600 terminals. The Company believes that the implementation of these programs has been an extraordinary success and will lead to additional license revenue contracts for Phoenix and SCTN as additional offerings are successfully deployed.
Phoenix will be providing 7 day 24 hour level 1 help desk for the National Merchant Solution client base and will also be providing operations management including card ordering, debit/credit funds settlement and incentives program management.
"Currently NMS is generating approximately $500,000 in annual revenues. We expect to increase these revenues significantly by providing additional products and services. We will be aggressively pursuing expanding the number of locations, franchises and potential partner companies" stated Miki Radivojsa, CEO of Phoenix.
About Phoenix Technology Holdings (Canada) Incorporated
Phoenix Technology Holdings provide sales, client implementation, hosting, development, and system support for customer retention products allowing clients to deploy sophisticated solutions easily and quickly (http://www.phoenix-tec.com/).
About Smart Chip Technologies
Smart Chip Technologies' turn-key customer retention solution, including Loyalty, Pre-Paid Stored Value, Punch Cards, and Gift Cards enables issuers, acquirers, and merchants to take advantage of real-time programs using their cardholder's existing cards using bar codes, magnetic stripes, smart chips, RFID, Internet accounts, and other consumer electronic technology, such as SMS and MMS cellular phones. The SCTN system is a scalable, high performance, end-to-end solution that uses an ASP model to customize the system's look and feel to reinforce customer branding. (http://www.sctn.com)
Contact:
Bernard McHale
702-361-3624
http://www.b2i.us/irpass.asp?BzID=748&to=ea&s=0
Source: Phoenix Technology Holdings (Canada) Inc; Smart Chip Technologies
Web site: www.phoenix-tec.com/
http://www.sctn.com/
