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News
April 1st, 2008
Alternet Systems expands its business into the Urban
Mass Transportation, Prepaid Fare-Collection business with
Chinese Technology Partner
Alternet Systems Inc. - (NASD OTCBB: ALYI ), announces that
it has entered into a partnership with Tianjin IC Card Public
Network Systems Co LTD. (TCPS). TCPS is the leading provider
in China of technology for urban mass-transportation: prepaid
fare-collection systems; fleet management; security and monitoring
of buses; asset management; and the integration with fuel
dispensing technology.
The TCPS technology helps replace the use of cash to pay for
the use of urban public transportation, with cards based on
“contactless” technology similar to the one used
to open doors in buildings. These cards store prepaid value
that can be used to pay the transportation fare in a city
bus or taxi.
The same technology can be used by a utility company to enable
it’s customers to prepay for utilities such as: water;
natural gas; or electricity; by enabling the metering system
to read the stored value in the card.
The new company will be a combined entity, formed by both
TCPS and Alternet Systems. Mr. Henryk Dabrowski, Chairman
and President of Alternet, will hold a permanent position
in the Board of Directors. It will provide a managed platform
for the prepayment of urban mass transportation systems and
public utilities, based on a comprehensive fixed and mobile-based,
point-of-sale processing service, as well as state-of-the-art
software for settlement with municipalities, bus companies,
utilities and banks.
Alternet will provide business development, management and
technology consulting and the regional distribution network
to collect the payments. TCPS will provide its technology,
operational experience and financing resources. The new company
will be based in Miami, Florida.
The markets served will include North America, Latin America
and the Caribbean, with immediate opportunities in Mexico,
Colombia, Peru, Guatemala, El Salvador, the Dominican Republic
and Panama. The target clients are: governments; public utility
companies, and banks in these regions.
“We are executing on the new vision of the company,
by expanding into the transactional arena. We see ourselves
as a key regional partner in the electronic collection management
of urban mass transportation, and the prepayment of all types
of utilities. We will also expand into the hosting and management
of mobile transactional applications, serving second and third-tier
mobile carriers, corporations and distribution networks. We
are very proud to partner with TCPS and are enthusiastic about
the immediate opportunities we are pursuing, it is an honor
to participate with such a strong and experienced company
and its visionary management team.” said Mr. Henryk
Dabrowski, President of Alternet Systems, Inc
.
“We are very pleased with our partners. They have demonstrated
their very strong business networking contacts in the region
and have the necessary skills to deploy these complex systems.
We expect to win immediate opportunities and are very advanced
in multiple opportunities. TCPS is excited by the opportunities
and is totally committed to its success in the Americas and
the Caribbean. It is my personal goal to position the new
company as the leader in the market” said Mr. Yanbin
Wang, Chief Operating Officer of Tianjin IC Card Public Network
Systems Co. LTD.
About Tianjin IC Card Public Network system CO. LTD:
Tianjin IC Card Public Network system CO. LTD (TCPS)
is a high-tech company specialized in the research & development
and production of contactless IC card application system and
financial payment terminals. We also attach a great importance
to the integration of network systems, the exploration of
application software as well as the investment and operation
of contactless IC card payment systems. The company has its
headquarters in Tianjin, in the Peoples Republic of China.
(http://www.tcps.com.cn/EN/)
About Alternet Systems:
Alternet Systems Inc. ( OTCBB: ALYI ) provides: telecommunications
services; education and health-care application software and
systems; and electronic transaction platforms for the mass
transportation and utility markets. Alternet Systems Inc.
is a U.S. corporation with offices in Miami, Florida and Vancouver,
British Columbia, Canada.
For further information about this news release or the Company,
contact: Patrick Fitzsimmons (866-608-2540) or visit Alternet's
corporate website at www.alternetsystems.com
On Behalf of the Board of Directors
ALTERNET SYSTEMS INC.
Patrick Fitzsimmons, Director
Certain statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the Securities
Act of 1933 and Rule 3b-6 under the Securities Exchange Act
of 1934, and are subject to the safe harbor created by those
rules. All statements, other than statements of fact, included
in this release, including, without limitation, statements
regarding potential future plans and objectives of the Company,
are forward-looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove
to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
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