(PR NEWSWIRE) Freestar Technologies Announces Launch of New Website
Freestar Technologies Announces Launch of New Website
SANTO DOMINGO, Dominican Republic, and NEW YORK, Feb.7
/PRNewswire-FirstCall/ -- Freestar Technologies (OTC Bulletin Board: FSTI)
announced today the launch of their website, redesigned to better showcase the
Company's technology and international presence.
The site, www.freestartech.com , includes features such as current
operational merchants, sales and technical information, client and merchant
downloads and a demonstration page, in addition to industry, corporate and
investor relations information.
Paul Egan, CEO of FSTI, stated, "The new website is an important step for
FSTI as we move further into the international market. The redesign
incorporates sales and technical information about our ePayPad as well as
offering our clients a centralized source of information on the company's
activities in Latin America, the Untied States and in Europe. As we continue
to grow the business, our website will be an important tool in linking
customers worldwide."
Using PaySafeNow, the world's first Internet-ATM payment system,
Freestar's customers have the ability to use ATM and debit cards to execute
cash transactions for online shopping and bill payments, in the same manner as
traditional credit cards. The Company will receive revenue from both hardware
sales and transaction fees.
The PaySafeNow solution bundles Freestar's ETSS software with a secure
card reader that connects the consumer's PC to the financial institution
holding the funds. The reader is compatible with both magnetic-stripe and
smart-card technologies, and utilizes a secure numeric keypad to enter PINs
and passwords. The system creates two-factor authentication, which is
required for ATM/debit transactions.
The PaySafeNow system with ETSS is endorsed and certified by Banco
Nacional de Credito, a division of the National Financial Group (GFN), a
principle financial institution in Latin America and the Caribbean.
About Freestar Technologies, Inc.
Freestar Technologies, Inc.'s Enhanced Transactional Secure Software
("ETSS"), 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.
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SOURCE Freestar Technologies
-0- 02/07/2002
/CONTACT: Ciaran Egan of Freestar Technologies, +1-809-732-5911,
cegan@freestartech.com; or Janalyn Schreiber of Direct Development Group,
+1-917-763-3033, or, jschreiber@directdevgroup.com, for Freestar Technologies/
/Web site: freestartech.com /
(FSTI)
CO: Freestar Technologies, Inc
ST: New York, Dominican Republic
IN: CPR OTC MLM
SU: PDT
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