VerifySmart is in negotiation with the purpose of signing a Memorandum of Agreement (MOA) with a South East Asian banking, financial services and manufacturing conglomerate (JV Partner). Under the terms of the proposed MOA, VerifySmart and the JV Partner will work jointly to develop an alliance planning and roll-out plan which will form the basis of a joint venture agreement. The parties intend to sign the MOA in the coming weeks.
The proposed MOA with VerifySmart’s South East Asian JV Partner involves the full suite of VerifySmart applications, including: VerifyNGo – Instant verification system to combat card fraud and identity theft; VerifyTransfer – Secure, simple and fast money transfer to single or multiple recipients; VerifyGateway – Secure, simple and efficient system for processing large volumes of credit card transactions and VeriSmart Card – Credit/Debit card with built-in verification to protect customers on all transactions anytime, anywhere in the world.
Adi Muljo, director and honorary chairman for VerifySmart, said: “The Asia Pacific Region, is remarkably open to the suite of fraud prevention and detection technologies that we have to offer. Because of how quickly these countries and the Fortune 500 companies have developed technologically, they have literally leapfrogged the delivery and application gridlock that can sometimes paralyze their North American counterparts. The Asia Pacific is the perfect launching pad for VerifySmart – to showcase our technologies and their ability to dramatically reduce or eliminate credit/debit card and e-commerce fraud loss as we know it today.”
