LODI, Calif., Jan. 11, 2005 (PRIMEZONE) -- PayStar Corporation (Pink Sheets:PYST) one of the nation's growing providers of stored value cards and national bank debit card load services and Kiosk marketing and management, announced today that its GLOBALCash division has signed Millennium Summit Enterprise Group (MSEG), as a new distribution agent.
According to Tianne Brown, MSEG President, "I have been in the merchant processing business for many years and I have been searching diligently for a stored value solution for my existing merchant accounts. GLOBALCash provides a perfect fit. I look forward to further expansion of accounts throughout my southeastern region through this relationship." Ms. Brown continued; "We will immediately launch GLOBALCash's stored value program into all 200 of our merchant locations. The key ingredient for me was the enabling of my merchants to market the cards with easy fund loading capability available through the proprietary funds loading services of several major banks in my area."
"This addition continues the expansion of our retail card strategy. We welcome MSEG to our expanding prepaid ATM card agent base all across the country," commented William D. Yotty, Chairman and CEO, PayStar Corporation.
About PayStar
PayStar Corporation (www.paystar.com) provides its distributors and clients with a suite of prepaid, stored value products. 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 for a national government project that will enable millions of under-served and subsidized housing individuals 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 with the regulation of the telecommunications industry.