2007'02.04.Sun
Freestar Technology Corp's Rahaxi Processing Oy approved as a MasterCard SecureCode(R) Vendor

PR
June 28, 2006

Rahaxi Processing Oy's Internet Payment Gateway (IPG) approved for Use with MasterCard SecureCode
SHANGHAI, June 28 /Xinhua-PRNewswire/ -- Freestar Technology Corporation (OTC Bulletin Board: FSRT), an international card payments processor and technology company announced at the end of last week the approval by MasterCard International for its integration of MasterCard SecureCode(R) within the online payment card security service operated by its wholly owned subsidiary Rahaxi Processing Oy. MasterCard SecureCode is a global security solution for Internet retailers and financial institutions. It addresses three of the most pressing issues in e-commerce today: lingering cardholder concerns about the safety of online shopping; issuers' need to remotely authenticate their cardholders while shopping online; and Internet retailers' desire to ensure a payment guarantee. Much like the familiar authentication process required for payment card use at Automated Teller Machines (ATMs), MasterCard SecureCode requires cardholders to enter their personal code in a inline window on their PC before their online payment can be completed. With this simple step, cardholders can be confident that their account is protected, and card issuers and retailers gain greater assurance about the identity of the person completing the transaction. The approval for the MasterCard SecureCode(R) application provides an additional value added security feature to existing Rahaxi Processing Oy's portfolio of international standard card payments processing products and services, including the Internet Payment Gateway (IPG) for fastly growing, global e-commerce market. "MasterCard SecureCode(R) is a payment initiative designed to reduce the risk of unauthorized use of a cardholder account by authenticating the cardholder attempting to make a purchase online. Authentications makes Internet shopping better and safer for both buyers and sellers on the web by reducing the merchant's exposure to fraud and frivolous disputes, and protecting the cardholder from fraudulent use of their credit card", Angel Pacheco, CTO of Freestar explained. Mr. Pacheco also added that Rahaxi improves its offering by providing secure payment environments not only to POS merchants but also to its growing e-commerce and m-commerce portfolios. About MasterCard SecureCode(R) MasterCard SecureCode is initiated on a retailer's Web site and interacts with both the cardholder and their card issuer. When a customer checks out from an e-commerce merchant, an in-line window appears asking them to enter a unique, personal code that has been registered with their bank. The bank then authenticates the cardholder and provides the electronic retailer evidence of the online purchase. For more information, please visit http://www.mastercard.com About Freestar Technology Corporation FreeStar Technology Corp. is a payment processing company. Its wholly owned subsidiary Rahaxi Processing Oy., based in Helsinki, has a robust Northern European BASE24 credit card processing platform. Rahaxi currently processes in excess of 1.8 million card payments per month for such companies as Finnair, Ikea and Stockmann. FreeStar is focused on exploiting a first-to- market advantage for its Enhanced Transactional Secure Software, which is a software package that empowers consumers to consummate e-commerce transactions with a high level of security using credit, debit, ATM (with PIN) or smart cards. The company, based in Dublin, Ireland, maintains satellite offices in Santo Domingo, Dominican Republic, Helsinki and Geneva. For more information, please visit http://www.freestartech.com or http://www.rahaxi.com . Forward looking statements Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. When used in this press release, the words "expects," "anticipates," "believes," "plans," "will" and similar expressions are intended to identify forward-looking statements. These are statements that relate to future periods and include, but are not limited to, statements regarding our adequacy of cash, expectations regarding net losses and cash flow, statements regarding our growth, our need for future financing, our dependence on personnel, and our operating expenses. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, those discussed above as well as risks set forth above under "Factors That May Affect Our Results." These forward-looking statements speak only as of the date hereof. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The companies caution that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in FreeStar's Form 10-KSB filing and other filings with the U.S. Securities and Exchange Commission (available at http://www.sec.gov ). FreeStar undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise. For more information, please contact: Investor Relations: Arun Chakraborty Stern & Co. Tel: +1-212-888-0044 Email: achakrab@sternco.com Paul Egan FreeStar Technology Corporation Tel: +1-809-368-2001 Email: pegan@freestartech.com SOURCE Freestar Technology Corporation
Post your Comment
広告
ブログ内検索
アーカイブ
カウンター