SECURTER PROVIDES SHAREHOLDER UPDATE
? ?Engagement Letter Signed for IPO”
Toronto Ontario October 20, 2021 – SECURTER SYSTEMS INC (“SECURTER”), a financial technology company specializing in secure card-not-present (“CNP”) online transactions, today provides the following Shareholder Update.
Mid size national investment firm to Act as Agent for IPO
Securter is pleased to announce that on October 15th, 2021, the Company entered into an Engagement Letter with a top ranked national investment firm to act as Agent for Securter’s Initial Public Offering (“IPO”) on the Canadian Stock Exchange (“CSE”). The Engagement Letter provides terms for an initial raise of up to CDN$1.2 million at $0.15 per share. Securter is now preparing its financial Audit, prospectus and all other documents in advance of its planned IPO on the CSE.
Private Placement Increase
Securter’s will increase its current stock offering up to CDN$500,000.00. Terms of the current Private Placement is a Unit offering at $0.10 per Unit. Each Unit is comprised of one common share and one share purchase warrant exercisable at $0.25 for a period of two years from the closing date. Any current shareholders wanting to expand their position, should contact the Company via email at investors@securter.com or by telephone at +1(647) 670-1231
Securter Expands its Key Management Team
Securter is pleased to announce the appointment of Alessandro Sagredo as our CMO (https://www.linkedin.com/in/alessandra-sagredo/). Alessandra will be responsible for all of our Marketing and Sales initiatives and managing our company's internal/external Marketing.
She has previously worked at Via Exhale Marketing (Co-founder), as well as with Fintech companies. Her clients have included Oranj, Simple Pay, Volume Monitor, Saasberry Innovation Labs (in partnership with Elavon), and others.
Also joining our team is Armand Sagredo (https://www.linkedin.com/in/armand-sagredo-506469173/ ) as our CSO. Armand will be responsible for all of our sales initiatives including managing Securter’s internal and external Sales teams.
Alessandra and Armand founded their current company Exhale Marketing & Exhale Consulting, where Armand is a CEO.
Technology Update
The Company is in the advanced stages of its Phase 1 product development, and its PCI DSS certification is nearing completion and will be done during November 2021.
On October 5th-2021, the PCT application was filed for the Securter’s 2nd Phase solution (received at the International Bureau). International Application Number PCT/IB2021/059140
The launch is scheduled for December 2021. The Company will provide its customers with the virtual queue management and payment service (1st Phase payment App) and is working with a product design and marketing agency for the launch preparations. Securter’s initial marketing campaign will encourage merchants to sign up to LineApp at no cost. Securter will introduce its Securter payment App to cardholders via LineApp, who will be invited to download the Securter™ Payment App to use for their online purchases.
Securter™ Payment
Securter is developing a payment processing technology that dramatically reduces the security risks associated with online purchases. The Securter™ Payment App allows consumers to use their credit or debit card directly without having to manually input their confidential card information. Securter’s technology turns a consumer’s mobile phone into their own payment terminal (personal card reader/POS), allowing them to scan (Phase 1) or tap (Phase 2) their credit/debit card on their own phone. After successful completion of the development and certifications of Phase 2 cards would be deemed present (CP) for the online transaction the same way they are when tapped in-person (in-store), allowing merchants to capture electronic data stored on the card and verify the transaction.
Securter expects revenues to commence after the 1st Phase launch and successful Beta Testing is completed. The Company anticipates revenue to grow monthly and further ramp up after Phase 2 (Target Q2-2022). Phase[JR1] 2 will feature the ‘Tap’ and personalized “PIN” added to the technology.
Market
According to the Nilson Report, the leading global card and mobile payments trade publication, by 2023 total credit, debit and other payment card transaction volume is projected to reach $57 trillion. At the same time, gross card fraud is projected to reach $35.67 billion. The addition of EMV chips to credit cards along with EMV card readers (originally developed by Europay, Mastercard and Visa) made credit cards less susceptible to fraud when the physical card was present.
The Securter payment and online user authentication platform is based on processing of EMV chip technology embedded in credit and debit cards. The technology has been adapted to extend the EMV technology (currently intended for physical Point of Sales/POS) to secure EMV online payments. Securter’s technology leverages the EMV security features offered when a physical card is present (CP) in-store and may make it possible to turn online purchases into card present transactions. The Software application (protected through patent=pending application) transforms a consumer’s smartphone into a personal card reader or POS Terminal. On October 5th-2021, the PCT application was filed for the Securter’s 2nd Phase solution (received at the International Bureau). International Application Number PCT/IB2021/059140
Fraud Risks
Criminals quickly moved their counterfeit fraud transactions to those when a credit card was not present (CNP), for example online transactions over public WiFi or websites that store credit card information as part of their payment system. Securter’s payment platform and mobile application software design provides cardholders with a secure method of payment using their own mobile device and utilizing built-in NFC (Near Field Communication) capabilities to transform their phone into a payment terminal.
The Payment App (2 Phase) allows individuals to use their own phone to tap their credit card to complete a transaction removing the risk of a consumer manually inputting their confidential card information to a website or providing it over the telephone. When making purchases using Securter’s payment processing technology, customers retain control of their card and card data, reducing the security risk and cost per transaction for merchants.
ABOUT SECURTER
Securter Systems, Inc. is developing proprietary, credit card payment platform to increase the security of online credit/debit card payment processing, globally. Securter 2 Phase technology reduces immense losses by financial institutions and merchants that arise from fraudulent credit card use. Securter technology also protects cardholder privacy by eliminating the need to distribute credit card details to multiple commercial 3rd parties, where such information is ordinarily stored, becoming vulnerable to theft or manipulation. Securter technology can and will be integrated into complementary payment methods and fintech protocols, including blockchain derivatives. Securter has internal R&D capability and management as well as external fintech business relationships to support the overall business mission.
Mid size national investment firm to Act as Agent for IPO
Securter is pleased to announce that on October 15th, 2021, the Company entered into an Engagement Letter with a top ranked national investment firm to act as Agent for Securter’s Initial Public Offering (“IPO”) on the Canadian Stock Exchange (“CSE”). The Engagement Letter provides terms for an initial raise of up to CDN$1.2 million at $0.15 per share. Securter is now preparing its financial Audit, prospectus and all other documents in advance of its planned IPO on the CSE.
Private Placement Increase
Securter’s will increase its current stock offering up to CDN$500,000.00. Terms of the current Private Placement is a Unit offering at $0.10 per Unit. Each Unit is comprised of one common share and one share purchase warrant exercisable at $0.25 for a period of two years from the closing date. Any current shareholders wanting to expand their position, should contact the Company via email at investors@securter.com or by telephone at +1(647) 670-1231
Securter Expands its Key Management Team
Securter is pleased to announce the appointment of Alessandro Sagredo as our CMO (https://www.linkedin.com/in/alessandra-sagredo/). Alessandra will be responsible for all of our Marketing and Sales initiatives and managing our company's internal/external Marketing.
She has previously worked at Via Exhale Marketing (Co-founder), as well as with Fintech companies. Her clients have included Oranj, Simple Pay, Volume Monitor, Saasberry Innovation Labs (in partnership with Elavon), and others.
Also joining our team is Armand Sagredo (https://www.linkedin.com/in/armand-sagredo-506469173/ ) as our CSO. Armand will be responsible for all of our sales initiatives including managing Securter’s internal and external Sales teams.
Alessandra and Armand founded their current company Exhale Marketing & Exhale Consulting, where Armand is a CEO.
Technology Update
The Company is in the advanced stages of its Phase 1 product development, and its PCI DSS certification is nearing completion and will be done during November 2021.
On October 5th-2021, the PCT application was filed for the Securter’s 2nd Phase solution (received at the International Bureau). International Application Number PCT/IB2021/059140
The launch is scheduled for December 2021. The Company will provide its customers with the virtual queue management and payment service (1st Phase payment App) and is working with a product design and marketing agency for the launch preparations. Securter’s initial marketing campaign will encourage merchants to sign up to LineApp at no cost. Securter will introduce its Securter payment App to cardholders via LineApp, who will be invited to download the Securter™ Payment App to use for their online purchases.
Securter™ Payment
Securter is developing a payment processing technology that dramatically reduces the security risks associated with online purchases. The Securter™ Payment App allows consumers to use their credit or debit card directly without having to manually input their confidential card information. Securter’s technology turns a consumer’s mobile phone into their own payment terminal (personal card reader/POS), allowing them to scan (Phase 1) or tap (Phase 2) their credit/debit card on their own phone. After successful completion of the development and certifications of Phase 2 cards would be deemed present (CP) for the online transaction the same way they are when tapped in-person (in-store), allowing merchants to capture electronic data stored on the card and verify the transaction.
Securter expects revenues to commence after the 1st Phase launch and successful Beta Testing is completed. The Company anticipates revenue to grow monthly and further ramp up after Phase 2 (Target Q2-2022). Phase[JR1] 2 will feature the ‘Tap’ and personalized “PIN” added to the technology.
Market
According to the Nilson Report, the leading global card and mobile payments trade publication, by 2023 total credit, debit and other payment card transaction volume is projected to reach $57 trillion. At the same time, gross card fraud is projected to reach $35.67 billion. The addition of EMV chips to credit cards along with EMV card readers (originally developed by Europay, Mastercard and Visa) made credit cards less susceptible to fraud when the physical card was present.
The Securter payment and online user authentication platform is based on processing of EMV chip technology embedded in credit and debit cards. The technology has been adapted to extend the EMV technology (currently intended for physical Point of Sales/POS) to secure EMV online payments. Securter’s technology leverages the EMV security features offered when a physical card is present (CP) in-store and may make it possible to turn online purchases into card present transactions. The Software application (protected through patent=pending application) transforms a consumer’s smartphone into a personal card reader or POS Terminal. On October 5th-2021, the PCT application was filed for the Securter’s 2nd Phase solution (received at the International Bureau). International Application Number PCT/IB2021/059140
Fraud Risks
Criminals quickly moved their counterfeit fraud transactions to those when a credit card was not present (CNP), for example online transactions over public WiFi or websites that store credit card information as part of their payment system. Securter’s payment platform and mobile application software design provides cardholders with a secure method of payment using their own mobile device and utilizing built-in NFC (Near Field Communication) capabilities to transform their phone into a payment terminal.
The Payment App (2 Phase) allows individuals to use their own phone to tap their credit card to complete a transaction removing the risk of a consumer manually inputting their confidential card information to a website or providing it over the telephone. When making purchases using Securter’s payment processing technology, customers retain control of their card and card data, reducing the security risk and cost per transaction for merchants.
ABOUT SECURTER
Securter Systems, Inc. is developing proprietary, credit card payment platform to increase the security of online credit/debit card payment processing, globally. Securter 2 Phase technology reduces immense losses by financial institutions and merchants that arise from fraudulent credit card use. Securter technology also protects cardholder privacy by eliminating the need to distribute credit card details to multiple commercial 3rd parties, where such information is ordinarily stored, becoming vulnerable to theft or manipulation. Securter technology can and will be integrated into complementary payment methods and fintech protocols, including blockchain derivatives. Securter has internal R&D capability and management as well as external fintech business relationships to support the overall business mission.
CORPORATE CONTACT INFORMATION:
Securter Systems Inc.
The Exchange Tower
130 King Street West, Suite 1800
Toronto, Ontario, M5X-1E3 Canada
investors@securter.com
www.securter.com
Forward-Looking Information
This press release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Technology development may be delayed indefinitely until the Company is able to raise the necessary capital. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Securter Systems Inc.
The Exchange Tower
130 King Street West, Suite 1800
Toronto, Ontario, M5X-1E3 Canada
investors@securter.com
www.securter.com
Forward-Looking Information
This press release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Technology development may be delayed indefinitely until the Company is able to raise the necessary capital. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
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