SAN DIEGO, May 19, 2005 (PRIMEZONE) -- Stored Value Marketing, Inc., (SVM) a leading provider of stored value card programs today announced it has entered into an agreement with Worldwide Financial Services dba Express Payment Solutions (EPS) to deploy the EPS cash deposit services to load funds onto its numerous prepaid debit card programs. Under this agreement which was facilitated through the Agent agreement between EPS and GLOBALCash, Inc., a subsidiary of PayStar Corporation (Pink Sheets:PYST), SVM will utilize the EPS proprietary depository network consisting of 12,000 nationwide bank branches representing four leading NA banks.
Mike Moneymaker, President of SVM, stated, "This partnership greatly enhances our potential to infiltrate the market on a countrywide scale. The EPS bank branch network expedites our card activations by providing our cardholders with immediate funds loading convenience through familiar local bank branch offices in their neighborhoods. We resolutely believe that offering convenient, safe and secure cash deposit services represents the best solution for our cardholders. That is why we have selected EPS for our personal use debit card programs."
Fred Rackers, Business Development Consultant for GLOBALCash, Inc., stated "SVM has developed strong direct marketing initiatives for its stored value products and our national footprint enables them to maximize their penetration potential. We are pleased to play a part in creating this exciting partnership. We look forward to helping SVM expand through the launch of our services."
About Worldwide Financial Services / EPS
Worldwide Financial Services, Inc. dba Express Payment Solutions (EPS) (www.yourexpresspay.com) was founded in January 2004. EPS was developed through the necessity to provide a cash payment solution for a government related program to enable millions of underserved and subsidized housing individuals access to various electronic services. WFS is a privately held company located in Indianapolis, Indiana.
About Stored Value Marketing, Inc.
SVM is an accelerator in providing financial and cashless solutions in the new economy. SVM has identified the growing market of cashless consumers -- it truly is the wave of the future and it is our core business. SVM's money transfer services, co-branding unit, Payroll services division, ECash, and merchant and Licensee affiliate programs are at the leading edge of an explosive industry. SVM employs financial solution experts and savvy marketing and strategic sales professionals to guarantee its services to single convenience store owners, payroll providers, Internet entities or fortune 500 companies. Visit us at www.svmincorporated.com
About GLOBALCash, Inc.
GLOBALCash, Inc. (www.globalcash.us), a subsidiary of PayStar Corporation (Pink Sheets:PK) (www.paystar.com), provides its distributors and clients with national bank load centers and a suite of prepaid stored value products. GLOBALCash 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 that can be used for payment of various goods and services everywhere ATM debit cards and major credit cards are accepted and online.
Legal Notice Regarding Forward-Looking Statements: 'Forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. Forward-looking statements represent management's best judgment as to what may occur in the future, but are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected by management. These statements are only predictions and may differ materially from actual future results or events. PayStar disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.