VSI

VANCOUVER, Aug. 4, 2011 /CNW/ -- TSX Venture Exchange: VSI VANCOUVER, Aug. 4, 2011 /CNW/ - VendTek Systems Inc (TSXV: VSI) (the "Company" or VendTek"), a developer and licensor of software for the global pre-paid and financial services market, is pleased to announce a partnership with Roshan and M-Paisa, Afghanistan's first mobile money transfer service. Through the partnership, the companies will help grow the financial services industry in Afghanistan and promote financial inclusion in the country. Introduced in 2008 by Roshan, Afghanistan's leading telecommunications provider, M-Paisa is the country's first mobile money service providing service to 97% of the unbanked population in the country. M-Paisa offers safe, secure, and fast access to a range of financial services, including salary disbursements, merchant payments, receipt and payment of microfinance loans, airtime purchase, and peer-to-peer money transfer. VendTek will develop additional mobile money functionality and provide consultancy support to M-Paisa as it expands the range of services available in Afghanistan. This partnership will enable M-Paisa to be at the forefront of product innovation and continue to meet the growing needs of the Afghan people and financial services industry to provide greater access for the unbanked population with new and much needed services. "We are very excited to partner with M-Paisa and Roshan to help support the growth of mobile financial services to Afghanistan," said Doug Buchanan, President and Chief Executive Officer of VendTek. "Our initial focus will be to introduce bank integration," continued Mr. Buchanan. "Our vision is to create an ecosystem for safe, transparent and secure financial services, using mobile money to complement the existing financial system. Roshan and M-Paisa are pleased to be partnering with VendTek, which will enable us to provide a range of new and innovative services to our customers. This partnership will help us expand access to important financial services for Afghans, contributing to the economic development of the country," said Zahir Khoja, Director, Mobile Money. M-Paisa is part of the Vodafone Money Transfer Group, which has over 22 million M-Paisa/M-Pesa customers worldwide. In April 2011, M-Paisa received Afghanistan's first Electronic Money Institute (EMI) license from Da Afghanistan Bank. Most recently, the service received international recognition with a Telecom Asia Award for Best Community Development Service, and a Global Mobile Award for Best Mobile Money Service for the Unbanked. About VendTek VendTek develops and licenses automated transaction system software and supporting technologies. VendTek's customers, subsidiaries and its Now Prepay division use e-Fresh™ software to build electronic, prepaid services networks that enable consumers to purchase prepaid products and services via POS and self-serve terminals connected to a central server. This system creates significant value through improved efficiencies compared to a traditional distribution model. e-Fresh™ reduces shrinkage and inventory requirements for vendors while improving consumer access to prepaid products and services by completely eliminating physical cards and vouchers. VendTek has deployed its software around the world including Canada, United States, Asia, the Middle East and Africa. For further information please visit the Company's websites www.vendteksystems.com and www.nowprepay.com. About M-Paisa Introduced by Roshan in 2008 in partnership with Vodafone, M-Paisa is Afghanistan's first mobile money transfer service, providing service to 97% of the unbanked population in the country. M-Paisa offers safe, secure and fast access to a range of financial services including receipt and payment of microfinance loans, peer-to-peer fund transfer, salary disbursement, purchase of airtime and bill payments. The service facilitates the transfer of funds using a mobile phone through Short Message Service (SMS) and an Interactive Voice Response (IVR) system. The IVR based menu is available to customers in Dari, Pashto and English, an important feature in Afghanistan where 70% of the population is illiterate. M-Paisa relies on Roshan's robust mobile network which spans across 230 cities and towns in all of Afghanistan's 34 provinces. This allows for the extension of financial services to the mass unbanked population. About Roshan Roshan (Telecom Development Company Afghanistan Ltd) is Afghanistan's leading telecommunications provider, with coverage in over 230 cities and towns and approximately 5 million active subscribers. Roshan directly employs more than 1,200 people and provides indirect employment to more than 30,000 people. Since its inception eight years ago, Roshan has invested over $500 million in Afghanistan and is the country's single largest investor and tax payer. Roshan is deeply committed to Afghanistan's reconstruction and socio-economic development. The Aga Khan Fund for Economic Development (AKFED), part of the Aga Khan Development Network (AKDN), is a major shareholder of Roshan and promotes private initiatives in building economically sound enterprises in the developing world.  Also owned in part by Monaco Telecom International (MTI) and TeliaSonera, Roshan brings international expertise to Afghanistan and is committed to the highest standards of network quality and coverage for the people of Afghanistan. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/04/c9485.html p bMedia Contact/bbr/ Farah Kurjibr/ Manager, Public Relationsbr/ Roshanbr/ Mobile: +93 (0) 799 99 6813br/ E-mail: a href="mailto:farah.kurji@roshan.af"farah.kurji@roshan.af/a /p

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