FreeStar Technology's Rahaxi Processing Oy. Achieves EMV-Certification for its Rahaxi-OTI(TM) (Open Terminal Interface) Middleware Software Solution in Finland

FreeStar Technology's Rahaxi Processing Oy. Achieves EMV-Certification for its Rahaxi-OTI(TM) (Open Terminal Interface) Middleware Software Solution in Finland

April 12, 2006

    SHANGHAI, April 12 /Xinhua-PRNewswire/ -- FreeStar
Technology Corp. (OTC Bulletin Board: FSRT), an
international card payments processor and technology
company, yesterday announced that its Rahaxi Processing Oy.
subsidiary has received EMV-certification for  Visa(R),
MasterCard(R) and all domestic Finnish cards used with its
Rahaxi-OTI(TM) Point Of Sale (POS) middleware solution from
Luottokunta in Finland.

    Rahaxi-OTI(TM) provides a secure payment interface
between the merchant, the banks and credit card acquirers. 
All payment related transaction types are supported; also
both traditional magnetic cards and EMV chip cards are
enabled through Rahaxi-OTI(TM). 

    The company reported that with its wide variety of
international standard card payments processing products
and services, Rahaxi Processing Oy is now able to offer
secure, online EMV-card transaction processing to merchants
as well as to Point Of Sale (POS) software and hardware
vendors in addition to traditional magnetic stripe card
transaction processing. 

   FreeStar Technology CEO Paul Egan said, "With this
certification, Rahaxi adds to its already extensive range
of payment processing solutions and services, giving the
company the ability to reach a much wider client base.  We
are now fully capable of processing chip cards and we
expect to see a vast growth as the migration to chip usage
is gathering rapid pace in the region. OTI was developed to
meet the needs of Rahaxi Processing's POS partners.  It is
capable of supporting different EMV pin pads from a variety
of suppliers. 

    Jyrki Matikainen, Rahaxi's Sales Director stated,
"Rahaxi has been a strong supporter of EMV from the
begining and we continue to invest in and comply with EMV
specifications so that our customers can reap the benefits
of having terminals that are fully compliant."  He
further stated, "As a result of the OTI certification,
Rahaxi has identified a target market of two thousand new
customers that may avail of OTI in Finland over the next
twelve months.  We believe that this target market could
produce an additional 900,000 Euros in sales during that
period." 

    About FreeStar Technology Corp.

    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 Stockman.  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 .

    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.  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.  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 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:   [phone]
     Email: [e-mail]
 
     Paul Egan
     FreeStar Technology Corporation
     Tel:  [phone]
     Email: [e-mail]
 
SOURCE  FreeStar Technology Corporation