November 12, 2008

Alternet Announces Transtech Sino America’s Partnership With Banrural

Alternet Systems, a provider of healthcare application software, has announced that its joint venture with Tianjin IC Card Public Network Systems, Transtech Sino America, has finalized a partnership with Banrural, a Guatemala-based bank.

In the partnership, Banrural will serve as Transtech's financial partner for e-transactions, e-ticketing and mobile payment solution projects in Guatemala and the surrounding region, with an initial focus on mass transportation e-ticketing solutions.

Transtech will benefit from different financial services Banrural provides, including trust managements, cash collection and sales channels through Banrural's extensive network of ATMs Initially, Banrural's ATM network will be used as a recharge point of sale system for prepaid bus fare collection, said Alternet.

Additionally, the Banrural partnership may provide key financing to Transtech's fleet replacement initiative in Latin America, providing high efficiency and low emission liquid petroleum gas (LPG) buses to municipalities with aging or inefficient bus fleets. The partnership has the potential for additional expansion to include utilities prepayment and municipal services.

Through their joint venture Transtech, Alternet Systems is Tianjin IC Card Public Network Systems's (TCPS's) strategic partner in Latin America. TCPS chose Alternet Systems for their experience in Latin America and for their proprietary wireless e-transaction capabilities, which are complementary to TCPS' contactless card and financial terminals.