SelectCore reports successful launch of City of Toronto City Services Benefits Card

TORONTO, Aug. 8, 2012 /CNW/ - SelectCore Ltd. ("SelectCore" or the "Company") (TSX-V: SCG) a leader in prepaid payment solutions for underserved markets is pleased to report on the successful launch of the City of Toronto's City Services Benefits Card program.

On July 18th, SelectCore announced that it was awarded a long-term contract from the City of Toronto to supply prepaid card programs. The first phase of the contract has been launched with Toronto Employment and Social Services (TESS) for the delivery of Social Assistance Financial Benefits to Ontario Works clients.

Just three weeks into implementation at five of its sites, Toronto is already experiencing an increased demand for the City Services Benefit Card.  As more clients are issued the card and become familiar with its use, and caseworkers have the opportunity to discuss its benefits, more clients are eager to move away from cheques and onto the card.

Both Toronto clients and staff are transitioning smoothly to the new payment method referring to it as "modern" and "user-friendly".  Toronto staff have easily adapted to the new technology and are already seeing the benefits of this streamlined payment method.

With a successful first stage of implementation, Toronto is now expediting the rollout of the City Services Benefit Card to include all of its 15 Toronto Employment and Social Services locations by mid August.

The City Services Benefit Card is the first prepaid card program of its kind to be launched in North America. SelectCore's payment solution enables Toronto residents to instantly receive their Ontario Works benefits through an EMV chip and PIN prepaid MasterCard® card that offers ATM access and can be used anywhere MasterCard® is accepted at over 29.4 million locations worldwide.

"We are very pleased with the successful launch of the City Services Benefit Card," said Keith McKenzie, CEO of SelectCore. "The roll-out to a full implementation across all of the TESS offices will prove the validity of the program for other government agencies looking to replace cheques with prepaid cards".

For more information, please read Toronto's news release regarding the launch of the City Services Benefit Card.

About SelectCore
SelectCore Ltd. (TSX-V: SCG) is a pioneer and leader in prepaid payment solutions for underserved markets. Founded in 1999, the Company offers a range of prepaid products and services from stored-value cards to mobile top-up that provide financial empowerment to a market of millions of under-banked consumers. SelectCore has been ranked among Canada's fastest growing companies by Profit Magazine four times in the past six years and was included in the 2011 Deloitte Technology Fast 500 list of North America's fastest-growing technology companies. For more information visit www.selectcore.com.

About MasterCard Worldwide
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Selectcore Ltd.

Alex Mangiola
Pilot PMR
416-462-0199 Ext. 21
[email protected]