SANTO DOMINGO, Dominican Republic, and NEW YORK, Feb. 27 /PRNewswire-FirstCall/ -- Freestar Technologies, Inc. (OTC Bulletin Board: FSTI), developer of PaySafeNow, the first secure and anonymous Internet commerce transaction solution securing ATM, debit and credit cards for Internet purchasing, announced its strategic partnership with Secure Data Solutions, of Melbourne, Australia.
The partnership with will serve as the cornerstone for Freestar's sales and marketing effort in the Australia/Asia region and develop an after-sales support and warranty service, while bringing greater product diversity to Secure Data Solutions' solution base.
Secure Data Solutions has developed one of the most sophisticated, web- based inventory management systems available, and is currently in a strategic relationship with SSP/Litronic to provide solutions and services that enable secure, real-time movement of financial transactions and valued digital content in Australia and Asia.
Paul Egan, CEO of Freestar Technologies, stated, "This relationship is another key milestone in FSTI's continued international expansion. In addition to our presence in Latin America, Europe and the United States, we will now be able to access Australia and Asia through Secure Data Solutions' technical expertise and network of contacts in the region."
About Secure Data Solutions
Secure Data Solutions, begun in late 1999 in Melbourne Australia, was spun out of Computer Logistics Solutions prior to the sale of the company to UPS Global Logistics in July 2000. Online client security was the focus of the new group, through the use of PKI. At the time of the sale of Computer Logistics Solutions to UPS Global Logistics the company was delivering integrated solutions in diverse markets such as India, China and South America employing over 200 people across 13 Countries.
About Freestar Technologies, Inc.
Freestar Technologies, Inc.'s Enhanced Transactional Secure Software ("ETSS") is a proprietary software package that enables consumers to consummate secure e-commerce transactions over the Internet using credit, debit, ATM (with PIN) or smart cards. The ETSS system integrates a consumer- side card-swipe terminal with a back-end host-processing center. It encrypts sensitive financial data at the consumer's personal computer, using powerful DES encryption and algorithms. It sends an authorization number to the e- commerce merchant, rather than the consumer's credit card information, to provide a maximum level of security. The Company plans to link several large, established smart card systems together on an ETSS-based standard to achieve economies of scale and further market penetration for this secure e-commerce payment system. For more information visit the Web site of the Company at www.freestartech.com
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 company, 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.
