BOCA RATON, Fla., Oct. 16, 2023 (GLOBE NEWSWIRE) -- via 500NewsWire – Kindcard, Inc. (OTC Markets: KCRD) (“Kindcard” and the “Company”), an innovative FinTech and PayTech company which provides alternative “Closed-Loop” payment solutions to consumers and businesses across a wide array of verticals through its wholly owned operating subsidiaries, Deb, Inc. and Tendercard, Inc., is pleased to announce that the Company’s common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (“DTC”) in the United States. DTC is a subsidiary of the Depository Trust & Clearing Corp., which manages the electronic clearing and settlement of publicly traded companies in the U.S. DTC eligibility incorporates an electronic method of clearing securities that accelerates the receipt of stock and cash, reduces costs, and allows the stock to be traded over a much wider selection of brokerage firms by meeting their clearing and settlement requirements.
“We are pleased to receive DTC eligibility which will simplify the electronic settlement for U.S. based investors and enhance the ability of these investors to participate in our Company’s growth.”, said Michael Rosen, CEO of Kindcard. Mr. Rosen continued, “Today's announcement is an important milestone towards broadening our market presence across the U.S. in our ongoing efforts to introduce our Company to a broader audience of potential investors. DTC eligibility should also help increase the liquidity of our stock and expand our presence in the U.S. capital markets. Our common shares are now more accessible to retail and institutional investors in one of the largest capital markets in the world.”
About Kindcard, Inc.:
Kindcard, Inc. (OTC Markets: KCRD) (“Kindcard” and the “Company”) is engaged in designing and taking to market safer more secure ways for business and consumers to transact as an alternative to cash, credit cards and checks. Through its proprietary “Pay with Deb” Wallet, merchants have access to banking products they might be unable to access through traditional credit card processing or cashless financial tools.
The Company provides alternative “Closed-Loop” payment solutions to consumers and businesses across a wide array of verticals. The Company believes that mobile wallet technology will ultimately grow to become the preferred method for merchants and consumers to transact at the point of sale, and it is our goal to capture significant market share from the mobile wallet segment through its proprietary “Pay with Deb” consumer app and merchant services platform. Visit the Company’s website:
www.kindcard.com
Kindcard is subject to the information and reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and, in accordance with the Exchange Act, the Company files periodic reports, documents, and other information with the Securities and Exchange Commission (the “Commission”) relating to our business, financial statements, and other matters. These filings are available to the public on the Commission’s website at http://www.sec.gov.
About Deb, Inc.
Under a proprietary license, Deb will soon launch its closed-loop payment network for innovative businesses allowing access to financial services for brick and mortar and online transactions being classified by acquiring banks and Visa™ and Mastercard™, along with all other credit card brands, as mid to high-risk merchants. Website: www.paywithdeb.com
About Tendercard, Inc.
Acquired by the Company in 2021, Tendercard is a proprietary Gift and Loyalty Software Platform used today by over 1100 retail and hospitality merchants nationwide via a monthly subscription. The Company has its own studio to design and print gift Cards per merchant specs. Since its acquisition by the Company, Tendercard has updated its servers and certified its software on all Pax™ “A” series and all Dejavoo card processing terminals. Website: www.thetendercard.com
Safe Harbor Provision
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expects,” “intends,” “plans,” “projects,” “estimates,” “anticipates,” or “believes” or the negative thereof or any variation thereon or similar terminology or expressions. These forward-looking statements are based upon current estimates and assumptions.
Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, those factors set forth in the Company’s Annual Report on Form 10-K for the year ended January 31, 2023 and its other filings and submissions with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements. This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions.
These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.
Contact:
Kindcard, Inc.
(888) 888-0708
Info@kindcard.com
Investor Relations:
Info@kindcard.com
