LODI, Calif., Dec. 6, 2004 (PRIMEZONE) -- PayStar Corporation (Pink Sheets:PYST), one of the nation's growing providers of stored value debit cards and Bank loading centers for prepaid ATM cards, announced today the signing of an MOU between PayStar's GLOBALCash division and blairmx.com. The companies will jointly market GLOBALCash's prepaid ATM debit cards to blairmx.com race fans through website links and over 20 MX Racing venues nationwide, which will be televised on ESPN(r), throughout 2005. The collectable card will feature Pro-riders Daniel and Vincent Blair, www.blairmx.com. This agreement is scheduled to consummate before the end of the year.
"GLOBALCash will receive full sponsorship logo positioning on blairmx.com racing bikes, gear and equipment," said Daniel Blair, Vincent's older brother. "Blairmx.com has several national sponsors, who will assist in the marketing of the blairmx.com collectable card."
The card will retail at $19.95 with GLOBALCash and BBR revenue-sharing initial sales and ongoing monthly cardholder transaction fee revenues. Thousands of racing fans are expected to participate in this unique offering.
"This niche marketing opportunity continues our nationwide retail card expansion program," stated William D. Yotty, Chairman and CEO, PayStar Corporation. "And when coupled with our strategic alliances and joint-marketing with community banks and retail catalog firms, this BBR program will enhance the division's revenues in 2005."
About PayStar
PayStar Corporation (www.paystar.com) provides its distributors and clients with a suite of prepaid, stored value products, national bank load center locations and Kiosk marketing and management. PayStar's GLOBALCash, Inc. (www.globalcash.us) distributes prepaid ATM debit and stored value cards that can be used just like regular credit cards. Prepaid ATM debit cards can be used everywhere major credit cards are accepted (stores, restaurants, theaters) and online. PayStar is a partner in a prepaid ATM debit card program for a national government project that will enable millions of underserved and subsidized housing individual's access to prepaid ATM debit cards. PayStar's corporate and distributor sales, as well as mergers and acquisitions, will continue to drive growth.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of known and unknown risks and uncertainties that may cause the company's actual results or outcome to be materially different from those anticipated and discussed herein. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry.