Over the last 5 years, Smuts-Steyn increased sales from approximately US$10 million to over US$200 million as the Group CEO of Ventury Group, a multi-channel payment and transaction processor based in South Africa.
Smuts-Steyn has extensive knowledge in both banking services as well as market development in developing economies. Smuts-Steyn has also been instrumental in the successful launch of point of sale services and pre-paid card application in evolving markets such as South Africa, India, Kenya and Nigeria.
Richard Smuts-Steyn stated, "I am most proud and privileged to be joining the team at FNDS3000. The pre-paid card market is not only enjoying explosive growth in the US markets but is also a key catalyst to the growth of banking services in Africa. The services provided by FNDS3000 to this market will not only play a pivotal role in the development of banking structures as a whole, but is also expected to generate attractive return on our efforts in this continent."
"I am excited that Richard has joined the team. With our strategic focus on Africa we needed a strong experienced executive who will be dedicating all his efforts on developing this market and management of our South African processing center. This will allow us to continue to develop and expand the opportunities that have presented themselves in the European and the Middle East markets," added Victoria Vaksman, Executive Vice President of Europe, Middle East and Africa for FNDS3000 Corp.
"I am very pleased that Richard has joined the company. He will be headquartered in Johannesburg and his immediate focus of concentration will be South Africa. Richard's depth of knowledge in the transaction business and contacts in Africa will be utilized to grow the business organically and through key acquisitions," said Michael Dodak, CEO of FNDS3000.