Rahaxi agrees distribution deal with China's Spectra Technologies

Source: FreeStar Technology

FreeStar Technology Corp. (OTC BB:FSRT.OB), an international card payments processor and technology company, today announced that its Finnish-based, wholly owned subsidiary, Rahaxi Processing Oy, has entered into an exclusive distribution agreement with Spectra Technologies Holdings Co., the Greater China leader in design and development of electronic transaction solutions.

Under the terms of the agreement, Rahaxi Processing Oy will exclusively distribute and market Spectra Technologies' state-of-the-art technologies including EMV- and PCI-certified Point-of-Sale payment terminals in Norway, Finland, Sweden, Ireland, Iceland, Estonia, Latvia and Montenegro.

Mr. Bango Ning, Regional Business Development Manager of Spectra Technologies, commented on the agreement: "Spectra is very glad to cooperate with Rahaxi Processing Oy, a technology leader in the transaction processing industry. By partnering with Rahaxi Processing Oy, we are very confident that we will have a great success in the Nordic region."

Dr. Jose Enrique Perez, Managing Director of Rahaxi Processing Oy, said: "Partnering with Spectra Technologies enables us to offer merchants and partners state of the art technology and low cost EMV/PCI solution in a very competitive market. Spectra Technology has a very strong product portfolio, and great support. We have a tremendous opportunity ahead of us in the Nordic region where migration to EMV- and PCI-standards rapidly gains pace. This agreement represents an opportunity for over 80,000 delivered payment terminals within the next 3 years."

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