SmartCard Marketing Systems Inc (SMKG:OTCQB) Production Deployments In South East Asia, LATAM & India Are Now Available To Channel Partners & Financial Institutions

Rhea-AI Summary

SmartCard Marketing Systems (SMKG) has established production installations of its Paytech Enterprise applications across several countries, focusing on Marketplace technologies with Blockchain and cross-border payment capabilities. By May 2022, the company anticipates expanding its payment coverage through partnerships in Africa, covering 28 out of 54 countries. SMKG has been shortlisted in the top 5 Fintech offerings in four countries. CEO Massimo Barone noted that production operations are now active despite past regulatory delays, emphasizing the growth of merchant contracts and the underlying complexities of Blockchain and cryptocurrency adoption.

Positive

• Established production installations in multiple countries.
• Targeted expansion in Africa, covering 28 out of 54 countries.
• Shortlisted in the top 5 Fintech offerings in four countries.

Negative

• Regulatory challenges previously delayed operations.
• Risks associated with Blockchain and cryptocurrency adoption could affect financial institutions.

New York, NY, March 18, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- The Company (SMKG:OTCQB) is pleased to announce that production installations of its Paytech Enterprise applications on Cloud infrastructure have been established for several Countries. This applies to the company’s IP portfolio including Marketplace technologies with embedded Blockchain, NFT, Crypto Issuing and Cross-border Payment Rails. 

The company has ongoing commitments with several Partners to expand its portfolio installation in Africa and estimated production is targeted for May 2022. This includes one MSB network of 16 of 54 African Countries and the 2nd MSB network with over 12 bringing our payment coverage to over 28 of 54 Countries.

Furthermore, management is pleased to mention that SMKG:OTCQB has been shortlisted in 4 Countries in top 5 of Fintech offering categories, which will be announced by the FI’s and Member committees on the respective announcement dates and be published on the company’s website as well.

The CEO of SMKG:OTCQB, Massimo Barone, stated, “We are pleased to announce that production operations have been established for multiple Countries; this includes South East Asia, LATAM, India with Africa underway. Although we faced challenges because of regulatory displacements that required a longer than normal time, we are positioned now to activate clients in production and offer our partner channel distributors a global infrastructure in Payment Tech and Payment Rails unmatchable by any ecosystem provider globally.

“Our book of MSB contracts continues to grow, including the number of Merchants and their Customers. The move into production and meeting regulatory compliance throughout 2020/21 is a measure of the complexity FI’s and Regulators had to deal with. This also includes merchant accreditation approvals with financial institutions as a critical part of the delivery process and journey. The robust demand and adoption of Blockchain and Crypto Currencies has an underlying risk that FI’s and Governments have to deal with despite the huge adoption by individuals and businesses. This same opportunity is a caveat which can delay or ultimately create uncertainty the Financial Underwriters may not want as a risk.”

About SmartCard Marketing Systems Inc (OTCQB: SMKG): 
SmartCard Marketing Systems Inc (OTC: SMKG) is an industry leader in specialized industry e-commerce, cloud and mobility applications delivering White Label solutions to the global PayTech and FinTech markets. SMKG is a boutique technology company, providing business intelligence and digital transformation strategies with a proprietary portfolio of applications and wireframes for banking, enterprises and retail e-wallets offering blockchain protocols, crypto issuing, nft minting, tokenization, digital id-eKYC, digital automation strategies with “License to Own” marketplace applications.

For more info visit www.smartcardmarketingsystems.com
or visit our business applications marketplace at www.Emphasispay.com
We seek a safe harbour.

Contact: CEO, Massimo Barone
mbarone@smartcardmarketingsystems.com
SmartCard Marketing Systems Inc.
OTC:SMKG Ph: 1-844-843-7296
news@smartcardmarketingsystems

FAQ

What recent developments has SmartCard Marketing Systems (SMKG) announced?

SMKG announced the establishment of production installations for its Paytech Enterprise applications in several countries, targeting expansion in Africa.

How many countries will SMKG's payment coverage expand to in Africa?

SMKG's payment coverage is expected to expand to 28 out of 54 African countries.

Has SMKG received any recognition in the Fintech sector?

Yes, SMKG has been shortlisted in the top 5 offerings in four countries.

What challenges did SMKG face in establishing production operations?

SMKG experienced regulatory challenges that delayed their operations longer than anticipated.

What potential risks are associated with SMKG's business model?

The adoption of Blockchain and cryptocurrency poses risks that financial institutions and governments need to manage.