Press Release

Year 2006 / Wednesday December 6, 5:30 am ET

FreeStar Technology Corp.'s Rahaxi Processing Oy. Signs Finnish Distribution and Referral Agreement with BasWare Corp.

DUBLIN, Ireland, Dec. 6 /PRNewswire-FirstCall/ -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News) an international card payments processor and technology company, today announced that its wholly owned subsidiary, Rahaxi Processing Oy., has entered into a distribution and referral agreement with BasWare Corp. (HEX: BAS1V), a global leader in purchase to payment processing and financial management solutions for large corporations, to serve BasWare's clients in the Finnish market.

BasWare Corporation is a world leader in providing purchase-to-pay and financial management solutions for large enterprises. Its software products are used by enterprises to automate back-office financial operations to enhance efficiency, gain process control and transparency, and meet compliance requirements. BasWare's products are also widely used in shared service centers. BasWare has eight subsidiaries in Europe and more than 450,000 end- users in more than 20 countries. In Finland alone, BasWare has approximately 4,000 clients that generate a combined 9 million transactions annually.

Under the terms of the agreement, BasWare's Cashier Desk-solution will be migrated to meet the requirements of the EMV and PCI-standards in Finland using Rahaxi-OTI(TM) card payments processing software and Hypercom® Optimum Point-of Sale products. Moreover, Rahaxi Processing will enable all BasWare Point-of-Sale merchant clients to be EMV compliant before the summer of 2007.

Paul Egan, chief executive officer of FreeStar Technology, said, "We are delighted to announce that coincident with the agreement signing, the first of the Point-of-Sale equipment deliveries are already installed and working in the field. BasWare's standing as a software provider to major corporations confers prime status to Rahaxi Processing's technology."

BasWare Program Manager Vesa Sarvala said, "We are looking forward to a fruitful, long-term relationship with Rahaxi Processing. We are impressed with its positive approach to new ideas both in customer relations management and technological development. The world of card payments processing evolves constantly and close co-operation with the world-class professionals at Rahaxi Processing will benefit BasWare greatly, resulting in the best possible products and service for our existing and new merchant clients."

Jyrki Matikainen, sales director of Rahaxi Processing, said, "It is a great turning point for Rahaxi to get a highly professional and major player like BasWare as a distributor of our EMV-solution. Rahaxi Processing has developed its device ordering system, contract handling and highly professional services to enable larger scale deliveries. Also, BasWare has given us valuable input and full co-operation."

About BasWare Corporation

BasWare Corporation is the global leader in Enterprise Purchase-to-Pay and Financial Management solutions. More than 450,000 end-users in over 20 countries use its software to automate back-office financial operations to enhance efficiency, gain process control and transparency, and meet compliance requirements. BasWare's products are widely used in Shared Service Centers. In 2005, net sales reached EUR 43 million. The growth target for net sales for 2006 is approximately 40% and will continue to be supported by a growing network of value-added resellers. Founded in 1985, BasWare Corporation is a public company listed on the Helsinki Stock Exchange. Headquartered in Helsinki, Finland, it has eight subsidiaries in the U.S. and Europe. For more information, please visit http://www.BasWare.com.

About FreeStar Technology Corporation

FreeStar Technology Corporation provides mission critical solutions to the financial industry worldwide. Working with merchants and acquires in over twenty countries, our product suite has empowered partners to focus on their core competencies, while our innovative driven approach has allowed them to benefit from first to market advantage and realize their true potential. FreeStar Technology Corporation has adopted a partnership strategy for growth. Our partners are market leaders in their respective industries. These include IKEA, Finnair and Stockmann. Our Subsidiaries Rahaxi Processing Oy Finland, FreeStar Technologies Ireland Limited and FreeStar Dominicana S.A. Dominican Republic, continue to develop and implement first class products and solutions that enhance the service level our partners can offer customers. For more information, please visit http://www.freestartech.com or http://www.rahaxi.com.

Source: FreeStar Technology Corporation