FORT LAUDERDALE, Fla., Feb. 11, 2008 (PRIME NEWSWIRE) -- Secured Financial Network, Inc. (OTCBB:SFNL) announced today that it has partnered with Blue Bamboo USA (www.bluebamboo.com) to launch secure payment processing of credit, debit, gift card, and check transactions using Blue Bamboo's wireless H-50 terminal and P-25M Bluetooth printer. Adding these low-cost hardware components to Secured's PCI compliant RedFin Payment Gateway, gives Secured Financial an edge in offering mobile commerce solutions. Transactions will be processed through a Blackberry(tm) wireless device available through wireless carriers like AT&T, Sprint, T-Mobile, and Verizon. Secured will also launch its Mobile ATM solution based on the Blue Bamboo H-50 wireless terminal.
Jeffrey Schultz, Secured President and CEO stated, "This partnership to deliver wireless mobile payment processing is a significant part of our strategy to provide our resellers with the most complete spectrum of payment processing services available from one company. We anticipate our wireless terminal program to kickoff in the next 30 days with a special reseller promotion to be introduced through sales channels that include major wireless resellers, technology aggregators, ISOs (independent sales organizations), and VARs (value added resellers) with forecasted sales of 18,000 units over the next 18 months. This will have a positive impact on our projected sales forecast for 2008. Secured will be exhibiting our wide spectrum of payment processing services along with Blue Bamboo wireless products, for the first time, at the Electronic Transactions Association (ETA) Show in mid-April."
Jamie Zimmerman, Managing Director of Global Operations for Blue Bamboo, stated: "We are very excited and supportive of our partnership with Secured Financial Network and believe our wireless products are a perfect fit with the wide spectrum of payment processing services -- offered under one roof -- through Secured's RedFin Payment Gateway and Virtual Payment Solutions subsidiary. They add a unique value proposition to mobile merchants enabling them to realize a faster return on investment in solutions for mobile commerce."
Anthony Ribas, Director of Sales and Business Development for Blue Bamboo USA, added, "The RedFin network provides solutions for all types of merchants from micro-merchants to enterprise merchants. Bundling the Blue Bamboo hardware with the RedFin Payment Network enables merchants and end users with a wide variety of flexible payment solutions."
About Secured Financial Network
Secured Financial Network, Inc. is a Ft. Lauderdale, Florida-based company that looks to create growth, add to profitability, and build shareholder value by engaging in a full-spectrum processing for e-commerce and traditional transactions through a PCI Certified Payment Gateway and proprietary 'bank-grade' electronic-vault based payment-processing system through its exclusive Envoii Deployment License Agreement.
About Blue Bamboo
Blue Bamboo designs and markets feature-rich and exceptionally affordable products for the POS (point-of-sale) terminal and peripherals industry. Blue Bamboo's robust electronic payment technology delivers scalable, customer-centric wireless and retail payment solutions which meet PCI and EMV standards all in a secure, reliable, and versatile design.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Secured Financial Network, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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