LODI, Calif., Dec. 20, 2004 (PRIMEZONE) -- PayStar Corporation (Pink Sheets:PYST), one of the nation's growing providers of stored value cards and national bank debit card load services announced as a result of PayStar's marketing agreement with Worldwide Financial Services dba Express Payment Solutions (EPS), TranSend LLC entered into an agreement with EPS for loading funds onto its numerous prepaid debit cards and prepaid MasterCard platforms. Under this agreement TranSend will offer EPS's proprietary nationwide bank funds loading services to its cardholders through its network of independent sales organizations. The service will utilize four leading banks with over 10,000 branch locations where cardholders on the Transend platform may conveniently replenish funds on their stored value cards.
William D. Yotty, Chairman and CEO, PayStar Corporation, stated "TranSend is one of the most respected and fastest growing prepaid card providers and we are pleased that they have chosen to partner with us. We look forward to their launch of our services."
About TranSend, LLC
As one of the country's earliest providers of stored value technology, TranSend (www.transendllc.com) began as a privately held company. Based in Cincinnati, Ohio, TranSend is a rapidly growing processor of stored value debit cards supporting all common card transactions and functionality. A MasterCard(r) authorized third-party processor (TPP) since 1998, our growth is a result of a singular focus on helping our clients utilize custom card programs to improve their bottom line. In the last year, we have enhanced our product lines with a number of turnkey card programs for the client whose objective is to compliment or differentiate their primary business through creative use of card products.
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.