Alternet Systems Inc. and its Chinese technology partner - Tianjin IC Card Public Network Systems Co LTD. (TCPS) are jointly forming a new company to provide a managed platform for the prepayment of urban mass transportation systems and public utilities.

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.

Based in Tianjin, TCPS is a high-tech company specialized in the research & development and production of contactless IC card application system and financial payment terminals. (Marketwire)

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