Intrepid Global Acquires Versatile Smartcard Solutions
Intrepid Global Imaging 3D, Inc. (IGLB.OB) announced that it signed an agreement to acquire 100% of the stock of First Vesatile Smartcard Solutions Corp. or Versacard, a private Filipino company owned by Hong Kong-based Mackay Group Ltd., or MKG.
Versacard provides electronic payment system and central clearinghouse using a pre-paid contact less cash card. Versacard will be used to pay for tickets for the public transit system consisting of the light rail transit authority, the metro rail transit authority, buses, subways, ferries and taxis. It can also be used to pay for tolls.
Versacard will also be used to pay for purchases at convenience stores, fast-food outlets, gas stations, drugstores, supermarkets, vending machines, and other commercial establishments throughout the Philippines as well as to pay phone, utility and other bills.
Versacard plans to team up with credit card companies to provide an “all in one card” in which transactions under a certain amount will be automatically applied against Versacard with the higher amount transaction applied against credit card.
Intrepid Global closed Wednesday's trade at $3.50, up $0.25, on a volume of 6 thousand shares.