Secured Financial Network Completes Acquisition
Posted on: Tuesday, 10 October 2006, 09:00 CDT
FT. LAUDERDALE, Fla., Oct. 10 /PRNewswire-FirstCall/ -- Secured Financial Network (BULLETIN BOARD: SFNL) announced today that is has closed on its acquisition of Virtual Payment Solutions, LLC.
"The acquisition of Virtual Payment Solutions, as a wholly owned subsidiary of SFNL, adds an exciting business dimension," said Jeffrey Schultz, President and CEO of Secured Financial Network. "It provides contracted Internet business portals the ability to transact business, with their client base, through a very secure proprietary electronic-wallet based payment processing system.
"The Internet today is in desperate search for secure environments to transact business with their clients and we know our VPS payment processing platform technology will be the choice of selected Internet merchants."
Virtual Payment Solutions plans to launch its real-time payment processing system by January of 2007. Schultz stated, "Our technology is proprietary in how it operates and has relationships and licenses with additional companies who have pending patents at this time. Our goal is to build a loyal customer base, add valuable client services, and build a recurring revenue stream."
About Secured Financial Network
Secured Financial Network, Inc. is a Florida based company that initially specialized in short term high margin business capital markets. Secured engages in these type of transactions including, but not limited to container financing and bridge financing. SFNL is constantly seeking business opportunities in which the Company participation will create an additional growth to profitability and build shareholder value in the long run.
Investor Relations Brass Bulls 866.342.2700
Secured Financial Network
CONTACT: Investor Relations, Brass Bulls, +1-866-342-2700, for SecuredFinancial Network
Source: PRNewswire-FirstCall
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