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::: 09/12/2008
Rahaxi, Inc. Reports Consistent Growth in Its Core Transaction and Processing and Related Revenue
[Press Release]::: 03/12/2008
Rahaxi, Inc. Signs a Lucrative Service Agreement With Pure Commerce for Expansion of Business Within the Caribbean and Latin America
[Press Release]
| Symbol: | RHXI.OB | | Date: | 1/5/2009 | | Trade Time: | 3:42pm | | Last Trade: | 0.12 | | Change: | 0.00 | | High: | 0.12 | | Low: | 0.08 | | Volume: | 245180 |
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Press Release
Year 2008 / Wednesday September 3, 6:30 am ET
 FreeStar Technology Corp.'s POS Terminal Sales and Deployment Gathers Pace, Reaches Major Milestone in Payment Solution Deliverables, 4,000 Units Deployed
Targets Potential 160,000 Unit Terminal Landscape in Existing Markets, New Markets Targeted
DUBLIN, Ireland, Sept. 3 /PRNewswire-FirstCall/ -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News) an international card payments processor and technology company, today announced that through its wholly owned subsidiaries Rahaxi Processing Oy and FreeStar Dominicana it has now passed the 4,000 terminals deployed milestone. This major milestone is further confirmation of the success of FreeStar's Point of Sale terminal deployment revenue model.
After significant investment in technical infrastructure and certification processes FreeStar only began deploying terminals in Dec. 2006, but expects a significant increase in terminal deployment at an accelerated rate over the next 12 months and it is confident of making large inroads into its target markets. FreeStar derives revenue from the sale of the actual terminal and in addition also receives recurring monthly support and processing fees for each unit. FreeStar believes its target markets in Finland and the Dominican Republic have a combined terminal landscape in the region of 160,000 units. The company also has deployed terminals in countries such as Spain, Iceland and Denmark and has been engaged with potential clients in the Middle East region and other Caribbean countries.
"FreeStar believes it is now positioned to become one of the largest deployers of POS terminals in its targeted regions. This is a direct result of the company's continued growth and success in the payment processing industry," said Paul Egan, chief executive officer of FreeStar. "This is a testament to our growing customer base and market share, which comes from our commitment to delivering high levels of customer service, innovative solutions and customizable processing options and programs. We plan to augment our Finnish and Dominican gains with stronger growth from our transaction processing and consulting revenue models."
Managing Director of Rahaxi Processing Oy, Dr. Jose Enrique Perez added, "Clearly the Company has established forward momentum with new product offerings, improved sales leadership and increased valued added service offerings. Now with a proven quality product established in the market place we plan to aggressively ramp up our rate of deployment in the coming months and we expect this momentum to continue through the remainder of fiscal 2008 and beyond."
Source: FreeStar Technology Corporation
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