Veritec Inc. (VRTC)
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Veritec Inc. Profile
| Software Industry | Information Technology Sector | Van Thuy Tran CEO | OTC PINK Exchange | 923437305 CUSIP |
| US Country | 7 Employees | - Last Dividend | - Last Split | - IPO Date |
Overview
Veritec, Inc., founded in 1982 and headquartered in Golden Valley, Minnesota, operates primarily in the United States, focusing on the development, sale, licensing of innovative products, and the provision of services related to mobile banking solutions. The company has established itself as a prominent player in the mobile banking sector by offering a comprehensive suite of services and products designed to cater to the needs of debit card issuers, sponsoring organizations, and their customers. Veritec's commitment to leveraging technology to provide mobile banking solutions is evident in its diverse offerings, which range from debit and pre-paid card programs to advanced mobile wallet applications.
Products and Services
- Mobile Toggle Card Program
- blinx ON-OFF Debit Card-Visa Prepaid Card Programs
- Branded Program Licensing
- blinxPay Mobile Wallet Application
- Member Card Programs & Back-End Processing
This program offers a debit-based, pre-paid, and gift card solution tailored for debit card issuers and sponsoring organizations. The Mobile Toggle Card allows issuers to provide their customers with a versatile payment solution that enhances the convenience and security of transactions. It stands out as a foundational element of Veritec's commitment to flexible financial products.
Veritec takes the functionality of debit cards a step further with the blinx ON-OFF Visa prepaid card program. This offering integrates the security and control over the card's usage directly through a mobile interface, providing users with the ability to instantly "toggle" their card's active status, enhancing security and user control.
Through its licensed mobile banking platform, Veritec enables card issuers and sponsors to issue debit, pre-paid, and gift cards under their own branded programs. This service extends beyond the physical card to include a comprehensive suite of back-end processing, settlement, and other related professional services, thereby offering a holistic approach to card program management.
The blinxPay mobile wallet application represents a leap forward in payment processing technology, allowing customers to conveniently make purchases at participating merchants using funds loaded into their virtual blinxPay account. This application not only simplifies the shopping experience but also integrates seamlessly with Veritec's broader ecosystem of mobile banking solutions.
Veritec's mobile banking solution supports the processing and settlement of member rewards in both open and closed loop environments, catering to a wide range of consumer preferences and requirements. This is complemented by comprehensive back-end card processing services, which are offered to card issuing institutions to support various cardholder transactions on the licensed platform, thereby ensuring a smooth and efficient operational framework for their card programs.
