Rahaxi agrees Finnish distribution deal with Tietosauma

Source: FreeStar Technology

FreeStar Technology (OTC Bulletin Board: FSRT) an international card payments processor and technology company, today announced that its subsidiary Rahaxi Processing Oy., based in Helsinki, entered into a distribution and referral agreement with Tietosauma Oy., an independent Point of Sale (POS) software vendor in Finland.

Under the terms of the agreement, Tietosauma Oy. is to marketRahaxi-OTI (Open Terminal Interface), an in-house developed and managed middleware solution, to its merchant clients. In addition, Tietosauma's Point-of-Sale software products will be migrated to meet the requirements of the EMV and PCI-standards in Finland using Rahaxi-OTI card payments processing software and Hypercom Optimum Point-of Sale products.

Paul Egan, chief executive officer of FreeStar Technology Corp., said,"We are delighted that after a comprehensive evaluation, Tietosauma Oy.agreed to join our growing network of distributors in Finland, and makeRahaxi-OTI part of Tietosauma's POS product offering."

Dr. Jose Enrique Perez, managing director of Rahaxi Processing, said, "Rahaxi-OTI was developed to meet the need for a centrally managed POS application, which can be remotely updated when needed. We are looking forward to a long and fruitful relationship with Tietosauma Oy."

Managing Director Jarmo Hiltunen of Tietosauma said, "We at Tietosauma believe that Rahaxi Processing's organization as well as its wide range of products and services enables us to migrate our merchant client portfolio tothe EMV-standard securely and with ease."

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