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Rahaxi, Inc. Successfully Launches Prepaid Processing Platform for Latin America

Jun 01, 2010 (02:06 PM EDT)
URL: http://www.techweb.com/show-press-release/X807890/rahaxi-inc-successfully-launches-prepaid-processing-platform-for-latin-america.html

Additional revenue model now an operational reality

SANTO DOMINGO, Dominican Republic, June 1 /PRNewswire-FirstCall/ -- Rahaxi, Inc. (OTC Bulletin Board: RHXI), an international card payments processor and technology company, today announced that it has successfully launched its prepaid platform for the Latin American market.

The platform has been developed and designed to facilitate the sales of electronic pins and recharge/top-up transactions for telecommunication companies and distributors. Rahaxi's platform offers carriers' merchants a highly efficient system with many automated value-added services.

In an arduous, rigorous testing phase that has taken place over the past several months, in excess of 1500 point of sale terminals were loaded with the prepaid application and deployed to merchants in various regions in the Dominican Republic. Due to the overwhelming success of the test phase, Rahaxi has gone into full production and is expecting to increase its deployment rate considerably in the months ahead.

Paul Egan, CEO of Rahaxi, Inc., stated: "The successful deployment of this technology is an important step in Rahaxi's growth. Our successful launch of the prepaid platform signals to the market that our continued investment in our product development has led us to the operational reality of an additional revenue model. The years we have spent listening to the market, and our customers' needs, in the development of our products have resulted in a set of unique products  and services now demonstrably ready for the market."

About Rahaxi, Inc.

Rahaxi, Inc. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquirers in more than twenty countries, its product suite has empowered partners to focus on their core competencies, while its innovative driven approach has enabled them to benefit from first to market advantage and realize their true potential. Rahaxi, Inc. has adopted a partnership strategy for growth. Its partners are market leaders in their respective industries. These include IKEA, Finnair and Stockmann. Its subsidiaries, Rahaxi Processing Oy., Finland, FreeStar Technologies Ireland, Ltd., and FreeStar Dominicana S.A. Dominican Republic, continue to develop and implement first class products and solutions that enhance the service level its partners can offer their customers. For more information, please visit http://www.rahaxi.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. When used in this press release, the words "expects," "anticipates," "believes," "plans," "will" and similar expressions are intended to identify forward-looking statements. 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. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Rahaxi cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in Rahaxi's Form 10-K filing and other filings with the U.S. Securities and Exchange Commission (available at www.sec.gov). Rahaxi undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise. The summary financial information contained herein is qualified in its entirety by reference to the information contained in Rahaxi's Form 10-K filing.

Contact

For more information, please contact:

At Rahaxi, Inc.

Ciaran Egan

c.egan@rahaxi.com

(809) 5472249

SOURCE Rahaxi, Inc.

RELATED LINKS

http://www.rahaxi.com



SOURCE Rahaxi, Inc.