Toronto, Ontario, Canada, Jan. 30, 2013 -- SelectCore Ltd. ("SelectCore" or the "Company") (TSX VENTURE:SCG) a global leader in prepaid payment solutions, is proud to announce that Paybefore has chosen the City of Toronto City Services Benefits Card as a 2013 Paybefore Awards winner in the Best Non-U.S.-Based Program category.
Paybefore Awards, now in its seventh year, is the most prestigious recognition of excellence in the worldwide prepaid and emerging payments industry. The awards are presented annually by Paybefore, whose publications are the leading source of industry information for alternative payments executives.
"We are honoured to be a recipient of this prominent industry award," commented Keith McKenzie, President of SelectCore. "As the first instant-issuance EMV card and benefits disbursement program, SelectCore addressed a burgeoning need for government agencies to provide a secure and cost-effective method of funds delivery, while at the same time delivering important benefits to recipients. This award clearly demonstrates our leadership and innovation in the prepaid industry."
The City of Toronto City Services Benefits Card was selected by a panel of five industry experts who served as judges for this year's competition, which - once again - included a record number of entries from around the world.
"Paybefore Awards were created to honor the companies and individuals that are at the forefront of innovation as well as successful market implementation across the globe," said Loraine DeBonis, Paybefore editor-in-chief and chair of the judging panel. "It's a dynamic time in electronic payments as companies like SelectCore continue to innovate to solve payments problems," she continued. "We are proud to recognize its contributions to advancing the prepaid and emerging payments industry."
"As the world changes, so do the payment and money management needs of individuals, businesses and government agencies," added Marilyn Bochicchio, Paybefore's CEO. "Paybefore Awards recognizes the organizations that use financial services to make people's lives better, which is why it is so exciting for us to honor those who champion innovation and excellence."
The City Services Benefits Card is the first program of its kind in North America. SelectCore's payment solution enables Toronto residents to instantly receive their Ontario Works social assistance benefits through an EMV chip and PIN prepaid MasterCard card that offers ATM access and can be used anywhere MasterCard is accepted at over 29.4 million locations worldwide.
Paybefore is the leading information provider to prepaid and emerging payments industry professionals, offering the latest news, commentary and analysis. Paybefore's family of industry publications includes: Paybefore.com; Paybefore News; Paybefore Mobile™; Paybefore News International™; Paybefore Update™; Paybefore Legal™; Paybefore Magazine™, a biannual print publication featuring in-depth articles on the opportunities, challenges and trends in the global prepaid and emerging payment industry; and the only industry directory, Paybefore Buyer's Guide Connections™, available online and in print. Visit us at www.paybefore.com .
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.
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Source: Company press release.