LODI, Calif., Feb. 15, 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 One Source Business Solutions as a new distribution agent. One Source Business Solutions offers energy and telecommunications services to hundreds of clients throughout the southeastern Texas region.
Dexter Brown, Managing Partner of One Source Business Solutions, stated, "We have been searching for a stored value solution to complement our current initiatives in the energy and telecommunications fields. Our clients want to streamline operations through electronic bill payment from subscribers and institute electronic payroll cards for their unbanked employees. GlobalCash solves both of these needs. GlobalCash offers convenient bank funds loading service through several major banks in our area and this allows the program work for our clients. We look forward to implementing their solutions immediately."
"This new agent program heightens the expansion of our payroll and electronic payment applications. We welcome One Source Business Solutions to our expanding prepaid ATM card agent base." commented William D. Yotty, Chairman and CEO, PayStar Corporation. Mr. Yotty, continued," PayStar expects One Source Business Solutions to introduce several thousand cards into their market place by the end of 2005."
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 underserved 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 industry.