SelectCore a prepaid telecom and financial services provider, executed an agreement with Radix Limited. The agreement will allow Radix to use certain trademarks of the company for the purpose of developing new business in certain Caribbean, Central American and South American countries.
This agreement is for an initial term of five years and is renewable on a yearly basis thereafter.
"Given Kevin's extensive experience, contacts and market knowledge in the region, we are excited about the current and future opportunities that will drive significant growth for the Company" Keith McKenzie, chief executive officer at SelectCore, commented in a statement.
The parties have already ascertained a pipeline of significant card program opportunities in the Territory, and will be in a position to publicly disclose such opportunities as definitive agreements are executed.
The cooperation agreement was approved by all of the independent directors of the company.
In related news, SelectCore completed the development of the Android (News - Alert) version of the company's mobile banking app for Iridium MasterCard (News - Alert). The Android mobile banking app will allow cardholders to conveniently check their account balance; view recent transaction history including purchases, loads and more money-share between other Iridium (News - Alert) cardholders in real time; and reload their card instantly.
Established in 1999, SelectCore was ranked by Profit100 as one of Canada's fastest-growing companies in 2006, 2007, 2009 and 2010. SelectCore was also ranked one of North America's fastest growing companies on Deloitte's (News - Alert) 2011 Technology Fast 500. From prepaid mobile top-up to stored-value cards and remittance solutions, SelectCore services a market of millions of under-banked consumers through its technology platforms and extensive retail distribution network.
Recently, SelectCore executed an agreement with 360incentives.com, an incentives platform, which has launched SelectCore's private-branded prepaid MasterCard card programs for various brands and clients of 360incentives.com.
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Edited by Braden Becker