About VTFS
In January 2009, Veritec formed its wholly own subsidiary, Veritec Financial Systems, Inc. (VTFS), located in Golden Valley, Minnesota. VTFS, develops and licenses mobile banking gift and prepaid card solutions and serves as a third party processor to banks for prepaid card transactions on the company's mobile banking platform. The company's card processing center is fully compliant with Payment Card Industry Data Security Standard (PCI-DSS).
In addition, VTFS licenses Veritec's PhoneCodes™ products for Mobile Banking and Security Applications which use cell phone technology in conjunction with its proprietary 2-D Matrix Symbologies, VeriCode® and VSCode®.