LODI, Calif., March 3, 2005 (PRIMEZONE) -- PayStar Corporation (Pink Sheets:PYST), a leading provider of bank debit card load services, today announced the signing of an agreement between Smartcard Marketing Systems, Inc. (SMS), a provider of stored value and debit card products and other financial payment services, and Worldwide Financial Services, Inc. dba Express Payment Solutions ("EPS"). PayStar is the exclusive marketing company for the proprietary EPS program which offers debit card and payment customers of SMS access to four leading banks with over 12,000 bank branches nationwide.
SMS, an authorized distributor of prepaid debit cards and electronic payment services, will offer electronic payment aggregation for Velocity Money(r) Debit Cards, Solid Payment Solutions and Caribbean Transfers via the EPS payment network. SMS customers may visit any participating bank branch and use their custom-printed deposit slip from EPS to automatically add funds to their electronic wallet, payment account and/or Velocity Money(r) stored value accounts.
Bruce Baillio, President of SMS, said, "We needed a secure yet convenient means for our cash based customers to deposit payments into their electronic wallet and payment accounts and also for our Velocity Money(r) stored value cardholders to reload their cards. EPS offered the only solution that could do both. With EPS we can now offer our customers access to over 12,000 bank branch locations nationwide to solidify our venue driven marketing strategy for our stored value card programs."
According to William D. Yotty, PayStar Chairman and CEO, "The SMS payment program exemplifies the tremendous applications for the EPS funding and payment platform. We are excited about working with SMS to assist in their further expansion of their unique electronic payment aggregation system."
About World Financial Services, Inc.
Worldwide Financial Services, Inc. (WFS) dba Express Payment Solutions (www.yourexpresspay.com) was founded in January 2004. EPS was developed through necessity of needing to provide a cash payment solution for a governmental program to enable millions of underserved and subsidized housing individuals access to debit card services. WFS is privately held company located in Indianapolis, Indiana.
About Smartcard Marketing Systems, Inc.
Smartcard Marketing has created innovative solutions in the area of electronically distributed, prepaid products. SMS is an authorized distributor of prepaid telephony (long distance and wireless) products, and International prepaid ATM and MasterCard programs. In addition SMS has combined the power of sophisticated, yet inexpensive, loyalty marketing solutions with its electronic distribution network to help its merchants retain customers and increase profits. The Smart Card Distribution Platform maximizes the best aspects of internal and external marketing to form a powerful new force in the marketing of retail businesses. SMS is based in San Antonio, Texas and Montreal, Quebec, Canada. For more information about SMS, contact Bruce Baillio at 210-490-0171. For the Canadian office call 514-583-1867.
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.