FORT LAUDERDALE, Fla., June 24, 2008 (PRIME NEWSWIRE) -- Jeffrey Schultz, Secured Financial Network, Inc.'s (OTCBB:SFNL) President and CEO, today announced that its wholly owned subsidiary Virtual Payment Solutions (VPS) (www.virtualpaymentsolutions.com) has completed agreements with several well established and geographically positioned deployment facilities to market, sell, and deploy its Blue Bamboo wireless terminal products and its Payment Gateway services. They include JR's POS Depot in South Florida, Cardware International in Ohio, Paragon Services in Atlanta, and ATT POS Depot in Southern California.
"Our strategic partnership with this group allows for on-time delivery of our Blue Bamboo (www.bluebamboo.com) wireless terminal products anywhere in the U.S.A. and provides market credibility with an aggregate active independent sales organization customer base in excess of 3000 resellers, who sell terminals and processing services to merchants nationwide. This will allow VPS to achieve its sales goal of 1000 terminals per month, each generating monthly recurring data revenue, before year's-end," Schultz stated.
About Secured Financial Network
Secured Financial Network, Inc. is a Pompano Beach, Florida-based company that engages in a full-spectrum of processing for e-commerce and traditional business transactions through a PCI Compliant Payment Gateway integrated with all major bank acquiring processors and retail transaction terminals through Virtual Payment Solutions (VPS), a wholly owned subsidiary. VPS is the premier U.S.A distributor of wireless terminal products manufactured by Blue Bamboo.
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.
Corporate Website: http://www.sfnl.net