LODI, Calif., Jan. 24, 2005 (PRIMEZONE) -- PayStar Corporation's (Pink Sheets:PYST) GLOBALCash division, a leading provider of bank prepaid ATM debit card load services, announced today the signing of an agreement between Direct Response Financial Services, Inc. (OTCBB:DRFL) and Optimum Pay USA, Inc., a leading provider of stored value and prepaid debit card products and services to Hispanics and other underserved consumers. PayStar's exclusive Strategic Alliance with Worldwide Financial Services, Inc. dba Express Payment Solutions ("EPS") will provide the proprietary bank load program which allows debit card customers of DRFS to load prepaid ATM debit cards at four leading banks with over 10,000 branches nationwide.
DRFS debit card holders may load their debit cards at any participating bank using a custom-printed deposit slip which allows for electronic tracking of deposits to the debit card account and automatic transfer from the depositing bank to the issuing bank. Deposits made in this manner are typically available the next banking day. Direct Card Services, the marketing subsidiary for DRFS, will include the EPS deposit slips within their card issuance envelope.
"We were looking for an immediate and reliable means for our debit card customers to re-load their stored value cards," said T. Randolph Catanese, Managing Member of Direct Card Services, "with the EPS Solution we can now offer our debit card customers access to over 10,000 retail banking locations." Mr. Catanese went on to say, "The EPS deposit slips allow for immediate crediting to the debit card with the security and reliability of a traditional bank making this network truly beneficial to our customers."
Optimum Pay's President and COO, Edward Kim, remarked, "Direct Card Services continues to expand its loading network through its relationship with our company. By adding EPS Solution to our existing network Direct Card Services has expanded its network to four of the leading banks in the U.S. Also, because of the EPS deposit slips customers of Direct Card Services can use ATMs and drive-up windows to deposit funds onto the debit card without ever entering a bank retail location. This makes the EPS Solution even more user-friendly."
According to William D. Yotty, PayStar Chairman and CEO, "Our staff has worked closely with Optimum Pay and EPS to customize this bank loading deposit program. It addresses the needs of their unique stored value and prepaid MasterCard(r) initiatives. We look forward to significant increases in EPS initial and recurring deposit fee income through potentially millions of Optimum Pay loading transactions."
About Worldwide Financial Services, Inc.
Worldwide Financial Services, Inc. (WFS) dba Express Payment Solutions (www.yourexpresspay.com) was founded in January 2004 as a general corporation in the state of Indiana. "Express Payment Solution" (EPS) was developed through necessity of needing to provide a cash payment solution for a governmental program to enable millions of underserved and subsidized housing individuals access to and loading capabilities for debit card services. WFS is privately held company located in Indianapolis, Indiana.
About Optimum Pay, Inc.
Optimum Pay, Inc. was founded on the principle of offering a simpler, less-expensive alternative to traditional payment process methods such as paper invoices, credit cards, checks and cash. Optimum Pay uses the Internet to move payments and financial records quickly and cost-effectively. The Company was a pioneer in the electronic payment systems for large regional banks and financial institutions throughout the United States, Europe and Asia. Optimum Pay is privately held company with headquarters in Irvine, California and offices in Covington, Kentucky. Major investors include Cybertek Holdings, Direct Response Financial Services, Inc. and The Alma Group. For more information on Optimum Pay please visit the website: www.optimumpay.com.
About Direct Response Financial Services, Inc.
Direct Response Financial Services, Inc. is a provider of payment card systems including a variety of branded and co-branded stored value cards (i.e., prepaid debit cards). The Company has agreements with leading financial institutions such as MasterCard, Chase Manhattan Bank, and Optimum Pay USA, Inc. as well as leading radio broadcasters such as Spanish Broadcasting System and Emmis Communications. The Company's first target is the market for payment solutions for un-banked and under-banked Latinos, the largest and fastest growing population in the United States. For more information on the Company please visit www.drfs.net.
About PayStar
PayStar Corporation (www.paystar.com) provides its distributors and clients with a suite of prepaid, stored value products and national banking debit card loading centers. PayStar's GLOBALCash, Inc. (www.globalcash.us) distributes prepaid ATM debit and stored value cards that can be used just like regular credit cards. Prepaid ATM debit cards can be used everywhere major credit cards are accepted (stores, restaurants, theaters) and online. PayStar is a partner in a prepaid ATM debit card for a national government project that will enable millions of underserved and subsidized housing individuals' access to prepaid ATM debit cards. PayStar's corporate and distributor sales, as well as mergers and acquisitions, will continue to drive growth.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of known and unknown risks and uncertainties that may cause the company's actual results or outcome to be materially different from those anticipated and discussed herein. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks with the regulation of the telecommunications industry.