TORONTO, ONTARIO--(Marketwire - May 27, 2011) - SelectCore Ltd. (TSX VENTURE:SCG)(PINK SHEETS:SLXXF), a provider of prepaid telecom and financial solutions for the credit challenged and unbanked consumer market is pleased to announce its industry-first, patent-pending technology that opens up the Company's ability to extend its ReCash network to virtually any merchant with a point-of-sale payment terminal.

Similar to Green Dot (NYSE:GDOT) in the US, ReCash is Canada's first ubiquitous retail cash reload network that offers consumers a convenient and secure way to load cash onto their store-valued accounts such as a prepaid Visa or MasterCard card. Simply put, ReCash is a means of converting cash to electronic forms of payment in real-time.

This new, patent-pending technology will allow virtually any merchant nation-wide to become a ReCash agent with no new hardware, integration or capital investment required. Transactions can be processed using existing point-of-sale devices over a traditional debit payment network. Merchants will also benefit from increased foot-traffic and a new, high-margin revenue stream.

"ReCash will become the single-largest retail network of 'branches-and-tellers' for the unbanked consumer market," said Ryan Deslippe, President of SelectCore.

Keith McKenzie, CEO of SelectCore further commented "With the significant influx of prepaid card users across North America, the shift to a cashless society is becoming more and more evident. Consumers want to shop online, pay for gas at the pump, book travel, and soon 'fund their mobile wallets'."

The Company also expects that it will be able to monetize this proprietary technology and intellectual property through both organic expansion and licensing arrangements globally.

About SelectCore:

SelectCore is a leading provider of transaction processing and point-of-sale solutions for the prepaid telecom market and financial services sector. From prepaid mobile top-up to stored-value cards, SelectCore services a market of nearly 80 million underbanked and credit-challenged consumers through its extensive retail distribution network across Canada and the United States. SelectCore is listed on the TSX Venture Exchange under the symbol "SCG" (TSX VENTURE:SCG) and "SLXXF" (PINK SHEETS:SLXXF) in the US. SelectCore was ranked by Profit100 Magazine as one of Canada's fastest growing companies in 2006, 2007 and 2009 and is a candidate again for 2010.

From: Globe & Mail