FreeStar Technology Corp.'s Rahaxi Processing Oy's OTI Software to be Marketed by Software Profecon Oy to its Merchant Clients

Major Finnish Software Provider is First Customer for Rahaxi's Secure Payment Interface

DUBLIN, Dec. 8 /PRNewswire-FirstCall/ -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News), an international card payments processor and technology company, today announced that its subsidiary Rahaxi Processing Oy, based in Helsinki, has signed a marketing agreement with Software Profecon Oy. Under the terms of the agreement, Software Profecon is to market Rahaxi-OTI^(TM) (Open Terminal Interface), an in-house developed and managed middleware solution to its merchant clients.

Software Profecon serves 500 clients in Finland with specialized software development. It has a large number of retail clients.

Paul Egan, chief executive officer of FreeStar Technology Corp., said, "We are delighted that Software Profecon will be the first to market with Rahaxi-OTI, which provides a secure payment interface between the merchant, the banks and credit card acquirers. We believe it is one of the fastest transaction systems available today."

Rahaxi-OTI, he explained, is a turnkey solution for POS software providers and makes it easy for them to join merchants to the payment framework through a clear and reliable interface.

Jouni Patsi, managing director of Software Profecon Oy said, "With this agreement we are able to offer a complete and advanced, end-to-end online payments processing service to our clients. Rahaxi's wide range of products and services will dramatically ease card payments processing for our clients and with Rahaxi's commitment to EMV and PCI compliance, our clients can take advantage of Rahaxi's international standard products and services also in the EMV-world."

Rahaxi-OTI was developed to meet high market demand. Traditional POS vendors require companies to expand services from platform to cash register as part of the POS application logistics. The Rahaxi-OTI^(TM) application is managed centrally by Rahaxi and can be remotely updated when needed.

FreeStar Technology is a payment processing and technology company operating a robust Northern European BASE24 credit card processing platform based in Helsinki, Finland. FreeStar currently processes approximately 1,000,000 card payments per month for an established client base that comprises companies such as Finnair, Ikea and Stockman. FreeStar is focused on exploiting a first-to-market advantage for its Enhanced Transactional Secure Software (ETSS), which is a software package that empowers consumers to consummate e-commerce transactions with a high level of security using credit, debit, ATM (with PIN) or smart cards. The company, based in Santo Domingo, Dominican Republic, maintains satellites offices in Stockholm, Dublin, Ireland, Helsinki, Finland, and Geneva, Switzerland. For more information, please visit FreeStar Technology's websites at http://www.freestartech.com, http://www.rahaxi.com.