FORT LAUDERDALE, Fla., Oct. 3, 2007 (PRIME NEWSWIRE) -- Secured Financial Network, Inc. (OTCBB:SFNL) announced today that the Company's Virtual Payment Solutions (VPS) business unit has signed a non-exclusive sales agreement with iPayment, Inc., a registered Independent Sales Organization (ISO) with VISA, USA(tm) and a registered Member Service Provider with MasterCard International(tm) to solicit online and offline merchants to use iPayment's credit/debit card processing in addition to a host of other merchant processing services.
Secured Financials President and CEO, Jeffrey Schultz, commented, "The signing of this merchant services agreement is the first of many that will allow Secured Financial, through its VPS division, to offer a powerful vertically-integrated merchant services platform, providing a wide spectrum of value added services to merchants, with integration to our PCI certified RedFin Payment Gateway. We are thrilled to be able to align Secured Financial with such a reputable industry provider like iPayment and look forward to a very long term successful relationship with them."
About Secured Financial Network
Secured Financial Network, Inc. is a Ft. Lauderdale, Florida-based Company that looks to create growth, add to profitability, and build shareholder value by engaging in a full-spectrum of e-commerce transactions through a PCI Certified Payment Gateway and proprietary 'bank-grade' electronic-vault based payment-processing system through its exclusive Envoii Deployment License Agreement.
About iPayment, Inc.
iPayment, Inc. is a provider of credit and debit card-based payment processing services to approximately 140,000 merchants across the United States. iPayment's payment processing services enable merchants to process both traditional card-present, or "swipe," transactions, as well as card-not-present transactions, including transactions over the internet or by mail, fax or telephone. www.ipaymentinc.com
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Secured Financial Network, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
INVESTOR INQUIRIES can be directed to the Company's website, http://www.sfnl.net.