POMPANO BEACH, Fla., Dec. 18, 2008 (GLOBE NEWSWIRE) -- Secured Financial Network, Inc. (OTCBB:SFNL) announced today that its wholly owned subsidiary Virtual Payment Solutions, Inc., a leading provider of traditional, e-commerce and wireless payment gateway solutions, has appointed Anthony Ribas as its Vice President of Sales and Marketing effective as of January 1, 2009.
Mr. Ribas has nearly 10 years of industry experience, specializing in the marketing and sales of payment processing, products, and services. Most recently, Mr. Ribas was Director of Business Development for Blue Bamboo USA, a division of Shera International, a leading manufacturer of Point of Sale (POS) wireless payment terminals and electronic devices. (www.bluebamboo.com). Virtual Payment Solutions is the premier US distributor for wireless payment terminals offered by Blue Bamboo USA.
Mr. Ribas commented, "Of the more than 3 million mobile merchants operating in U.S., less than 10% have a wireless payment solution installed. Virtual Payment Solutions is positioned to serve this substantial market void, by offering merchants a variety of fully compliant credit/debit card, ACH processing, check verification and other state-of-the-art electronic payment solutions to merchants nationwide. I look forward to building the Virtual Payment Solutions brand and capitalizing on new market opportunities nationwide."
A joint statement from Secured Financial CEO Jeffrey Schultz and Justin Anderson, Blue Bamboo VP for the Americas, acknowledged, "This is a significant transition for Mr. Ribas to Virtual Payment Solutions and is the first step in what we believe will be an exciting new partnership between our companies in 2009."
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/CISP Compliant Payment Gateway integrated with all major Bank acquiring processors and retail transaction terminals through Virtual Payment Solutions, Inc. (http://www.virtualpaymentsolutions.com) a wholly owned subsidiary.
About Blue Bamboo U.S.A.
Blue Bamboo is a division of Shera International and a sister company to Shera Technology, a 15-year-old manufacturer of POS terminals, thermal printers and electronic devices with state-of-the-art manufacturing capabilities. Blue Bamboo designs and markets superior, feature-rich but exceptionally affordable transaction devices and peripherals. (www.bluebamboo.com)
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.