Industry: Software Application

Sector: Technology

Veritec, Inc., together with its subsidiaries, develops, sells, and licenses products and services to its mobile banking solutions in the United States. The company offers Mobile Toggle Card program, a debit based, pre-paid, and gift card solution to debit card issuers and sponsoring organizations; and blinx ON-OFF debit card-Visa prepaid card programs. It also enables card issuers and sponsors to issue debit, pre-paid, and gift cards under their own branded programs through the licensed use of the mobile banking platform; and provides related professional services. In addition, the company offers blinxPay mobile wallet application, a payment processing system that enables customers to make purchases at participating merchants using funds loaded into their blinxPay virtual account. Further, its mobile banking solution enables member card programs to process and settle member rewards in open or closed loop processing environment, as well as offers back-end card processing services to the card issuing institutions for various cardholder transactions on the licensed platform. Veritec, Inc. was incorporated in 1982 and is based in Golden Valley, Minnesota.

VERITEC INC is evaluated using Mavefund's quality framework: growing earnings, durable profit margins, conservative leverage, strong return on equity, and disciplined share repurchases.