DUBLIN, Ireland, Aug. 20, 2007 (PRIME NEWSWIRE) -- FreeStar Technology Corp. (OTCBB:FSRT), an international card payments processor and technology company, today announced plans to extend electronic payment services in the Dominican Republic. In partnership with Hypercom Corporation (NYSE:HYC), FreeStar has agreed to purchase the Optimum T2100 card payment terminals. This will represent the first major order of terminals in the Dominican Republic.
"FreeStar's selection of Hypercom speaks to our product's competitive advantages, and further expands our presence throughout this important region," said Jaime Arroyo, Managing Director, Hypercom Mexico, Central America and Caribbean.
"With its fast growing economy due mainly to Tourism, which accounts for more than $1.3 billion specifically from Europeans, the demand for high security payment processing requiring EMV compliant systems is a natural progression for the Dominican Republic, and we are meeting that demand head-on with Hypercom's T2100," said Paul Egan, President and CEO, FreeStar Technology Corporation.
Hypercom's Optimum T2100 is a high-speed countertop terminal based on a 32-bit RISC processor, with 12 megabytes of memory and dial communications to speed installation and ease migration. This innovative device features an integrated EMV-compliant smart card reader, built-in printer, support for multiple languages and currencies, and hand-over design and graphical interface that guides cardholders through transactions with clear prompts. FreeStar has achieved success in past partnerships with Hypercom in the Finnish Market and is expecting increased sales of both terminals and transaction processing in the Dominican Republic.
About FreeStar Technology Corporation
FreeStar Technology Corp. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquirers in more than twenty countries, its product suite has empowered partners to focus on their core competencies, while its innovative driven approach has enabled them to benefit from first to market advantage and realize their true potential. FreeStar Technology has adopted a partnership strategy for growth. Its partners are market leaders in their respective industries. These include IKEA, Finnair and Stockmann. Its subsidiaries, Rahaxi Processing Oy., Finland, FreeStar Technologies Ireland, Ltd., and FreeStar Dominicana S.A. Dominican Republic, continue to develop and implement first class products and solutions that enhance the service level its partners can offer their customers. For more information, please visit www.freestartech.com and www.rahaxi.com.
About Hypercom
Global payment technology leader Hypercom Corporation (NYSE:HYC) delivers a full suite of high security, end-to-end electronic payment products and services. The company's solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, healthcare, prepaid, unattended and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits.
Forward-looking statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. When used in this press release, the words "expects," "anticipates," "believes," "plans," "will" and similar expressions are intended to identify forward-looking statements. These are statements that relate to future periods and include, but are not limited to, statements regarding our adequacy of cash, expectations regarding net losses and cash flow, statements regarding our growth, our need for future financing, our dependence on personnel, and our operating expenses. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, those discussed above as well as risks set forth above under "Factors That May Affect Our Results." These forward-looking statements speak only as of the date hereof. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The companies caution that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in FreeStar's Form 10-KSB filing and other filings with the U.S. Securities and Exchange Commission (available at www.sec.gov). FreeStar undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.