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FreeStar Technology Corp. FSRT, an international card payments processor and
technology company, today announced that its Rahaxi Processing Oy. subsidiary
has received EMV-certification for Visa(R), MasterCard(R) and all domestic
Finnish cards used with its Rahaxi-OTI(TM) Point Of Sale (POS) middleware
solution from Luottokunta in Finland.
Rahaxi-OTI(TM) provides a secure payment interface between the merchant,
the banks and credit card acquirers. All payment related transaction types are
supported; also both traditional magnetic cards and EMV chip cards are enabled
through Rahaxi-OTI(TM).
The company reported that with its wide variety of international standard
card payments processing products and services, Rahaxi Processing Oy is now
able to offer secure, online EMV-card transaction processing to merchants as
well as to Point Of Sale (POS) software and hardware vendors in addition to
traditional magnetic stripe card transaction processing.
FreeStar Technology CEO Paul Egan said, "With this certification, Rahaxi
adds to its already extensive range of payment processing solutions and
services, giving the company the ability to reach a much wider client base. We
are now fully capable of processing chip cards and we expect to see a vast
growth as the migration to chip usage is gathering rapid pace in the region.
OTI was developed to meet the needs of Rahaxi Processing's POS partners. It is
capable of supporting different EMV pin pads from a variety of suppliers.
Jyrki Matikainen, Rahaxi's Sales Director stated, "Rahaxi has been a
strong supporter of EMV from the beginning and we continue to invest in and
comply with EMV specifications so that our customers can reap the benefits of
having terminals that are fully compliant." He further stated, "As a result of
the OTI certification, Rahaxi has identified a target market of two thousand
new customers that may avail of OTI in Finland over the next twelve months.
We believe that this target market could produce an additional 900,000 Euros
in sales during that period."
About FreeStar Technology Corp.
FreeStar Technology Corp. is a payment processing company. Its wholly
owned subsidiary Rahaxi Processing Oy., based in Helsinki, has a robust
Northern European BASE24 credit card processing platform. Rahaxi currently
processes in excess of 1.8 million card payments per month for such companies
as Finnair, Ikea and Stockman. The company, based in Dublin, Ireland,
maintains satellite offices in Santo Domingo, Dominican Republic, Helsinki and
Geneva. For more information, please visit http://www.freestartech.com
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. 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. 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.
For more information, please contact:

Investor Relations:
Arun Chakraborty
Stern & Co.
Telephone: [phone]
[e-mail]

or

Paul Egan
FreeStar Technology Corporation
Telephone: [phone]
[e-mail]
SOURCE FreeStar Technology Corp.


Contact Information:
Investor Relations - Arun Chakraborty of Stern & Co., [phone], [e-mail], or Paul Egan of FreeStar Technology Corporation, [phone], [e-mail]

WebSite:
http://www.freestartech.com