DataWave Launches Cash-Card System in Canada.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 9, 2003 DataWave Systems Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DWVSF)(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:DTV (Digital TeleVision) Transmitting TV using digital signals. The major DTV standards are ATSC (North America), DVB (Europe) and ISDB (Japan). All three use MPEG-2 video compression and Dolby Digital audio compression. DVB and ISDB also include MPEG audio compression. ), a leading provider of electronic merchandising hardware and software solutions, announced today that it has entered into an agreement with Money Card Corp., Moneris Solutions Moneris Solutions (Solutions Moneris in French) is Canada’s largest processor/acquirer of debit and credit card payment processing. Moneris was established in December 2000 as a joint investment between RBC Royal Bank and BMO Bank of Montreal. Moneris’ U.S. Corp., CU-Connection Ltd., Nextwave Card Corp. and PACE Savings & Credit Union Ltd. to launch cash cards in the Canadian market. Cash cards eliminate the need for consumers to carry money for most purposes, and provide a convenient and secure alternative to cheques, gift certificates, and retail coupons. They function much like a credit or debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. . Funds are credited to a card account and can be accessed through a secure personal identification number (PIN) when the card's magnetic stripe A small length of magnetic tape adhered to credit cards, badges, permits, passes and tokens. The tape is read by magnetic stripe readers incorporated into ATMs, identification readers and payment terminals. is swiped at a point-of sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) authorization terminal such as an automated teller machine automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. (ATM) or any Interac(R) outlet. When the card balance is low, money can be added to the card account. The cash card program is being spearheaded by Nextwave Card Corp that is 50% owned by DataWave. Nextwave will market the cash card to customers in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. sector providing the hardware and software required to activate and reload (1) To load a program from disk into memory once again in order to run it. Reload is entirely different than reinstall. Reinstall means that you have to run the install program from a CD-ROM or floppy disk and perform the installation procedure over again. cards, as well as monitor and report transactions to vendors. Moneris Solutions in Toronto, Canada's largest merchant payment processing company, is responsible for settlement of funds from card transactions, while CU-Connection in Scarborough, Ont. is responsible for authorizing all transactions and providing switching services to facilitate settlement of funds. PACE Savings & Credit Union Ltd. in Vaughn, Ont. is acting as the authorized Bin number issuer for all prepaid cards. "Moneris Solutions is pleased to be part of this alliance of technology companies and financial service providers," says Brian Green
Brian Russell Green (born 25 July 1956) is a Queen's Counsel and a leading member of the Law Society of England and Wales. , Vice President, North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Marketing and Gateway Services, Moneris Solutions Corp. "The launch of the Nextwave card program will further expand the payment options available to retailers, while increasing security, flexibility and convenience for the consumer." National Money Mart, Canada's largest provider of convenience-based financial services, is the first customer to use the Nextwave cash card system. Following the successful pilot of Nextwave cash cards at five Money Mart branches in Victoria, B.C., the company plans to introduce branded personal cash cards at its 295 Canadian branches in a phased rollout starting in 2004. "We've seen a strong consumer demand for cash cards at our Victoria stores and plan to expand our cash card program across Canada Across Canada was an afternoon program that formerly aired on The Weather Network. The segment ran from early 1999 until mid 2002. The show ran from 3:00PM ET until 7:00 PM ET. ," said Bruce Marshall, Vice President of Marketing for Money Mart. "Part of the appeal of the cash card is that it gives consumers the ability to access their funds at any ATM or POS terminal without having to worry about carrying around large amounts of money after cashing a cheque or receiving a wire transfer." "Partnering with these financial service providers will help establish a national presence for the Nextwave cash card system," said Bill Turner William R. "Bill" Turner (born February 18, 1944) is an American 6'7" retired American professional National Basketball Association player. Turner played college basketball at University of Akron. , Vice President, Business Development, of DataWave. "The acceptance of this payment method is gaining momentum because customers and merchants both appreciate the convenience and ease of using cash cards to access funds and purchase goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. ." DataWave's technology platform allows for real-time point-of-sale authorization, activation, and monitoring of all Nextwave card transactions. Vendors can monitor card use from their web browser The program that serves as your front end to the Web on the Internet. In order to view a site, you type its address (URL) into the browser's Location field; for example, www.computerlanguage.com, and the home page of that site is downloaded to you. in real time, enhancing customer service and risk management. Cardholders can also review their transactional information and monitor transactional history through a secure vendor website. All applications are hosted in highly secure locations to minimize security risks and offer a high level of cardholder card·hold·er n. One who holds a card, especially a credit card. card  hold privacy.
Nextwave plans to market its cash card system internationally to the financial services sector, which includes cheque cashing and currency exchange companies. Cash cards can also be used by retailers with customer loyalty programs, as well as insurance companies to expedite the payment of insurance claims and payroll companies to streamline payroll processing. About DataWave (www.datawave.ca) DataWave has been an innovator and developer of prepaid and stored-value programs and merchandising solutions since it was founded in 1994. DataWave pioneered a system that allows for point-of-sale activation of high value, high shrinkage products, such as cash cards and phone cards. The system works equally well over the Internet, through intelligent freestanding vending machines or with various card activation devices, including cash registers. About National Money Mart Company (www.moneymart.ca) National Money Mart Company is Canada's leading provider of cheque cashing and convenience-based financial services. Money Mart has been providing cheque cashing and other basic financial services to Canadians since 1982. In addition to cheque cashing, Money Mart offers Western Union money transfers, money orders, foreign currency exchange, cash advances and bill payments. About About Moneris Solutions Corporation (www.moneris.com) Moneris Solutions Corporation is Canada's largest provider of payment processing solutions for merchants. Moneris offers unique card transaction and payment services for virtually every industry segment that accepts credit and/or debit card payments. More than 350,000 merchant locations rely on Moneris - 24 hours a day, 7 days a week - to process and streamline their card payment processing. Moneris also works with a range of business partners to provide Canadian merchants with the hardware, software and systems needed to improve business efficiency and manage point-of-sale information. About PACE Savings & Credit Union Ltd. (www.pacecu.com) PACE Savings & Credit Union Ltd. is a full service financial co-operative with over 50 years of experience, close to $290 million in assets under administration and a network of 13 branches serving over 23,000 members in the Greater Toronto Area The Greater Toronto Area (widely abbreviated as the GTA) is the most populous metropolitan area in Canada. The GTA is a provincial planning area with a population of 5,555,912 at the 2006 Canadian Census. and throughout Ontario. About CU-Connection Ltd. CU-Connection Ltd. provides online electronic funds transaction services, including access to Interac and other point-of-sale networks, across Canada. The company is jointly owned by eight Canadian credit unions. DataWave Systems Inc. John Gunn, General Manager, CFO See Chief Financial Officer. Legal Notice Regarding Forward-Looking Statements: This press release contains "forward-looking statements". Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include statements regarding DataWave's intentions to launch cash cards in the Canadian market, plans to market cash card systems internationally, and establishment of a national presence for the Nextwave cash card system. It is important to note that actual outcomes and the Company's actual results could differ materially from those contained in any forward-looking statements contained in this press release. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties such as, insufficient demand for and market acceptance of cash cards, inability of DataWave or of one of its partners to comply with the terms of the agreement, emergence of companies with competing or superior products and/or services, unforeseen changes in the software and hardware technology used in connection with DataWave's or its partners' technology and products, the unforeseen delays or costs of entering new markets, or technical difficulties in developing the cash card. Readers should also refer to the risk disclosures outlined in the Company's annual report and regulatory filings for the 2003 fiscal year filed with the TSX, the BC Securities Commission and the SEC. "DataWave" is a registered trademark of the Company. All other trademarks and trade names referred to are the property of their respective owners. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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