Open Solutions Canada Signs Agreement
to Deliver
EFT Canada & Secure Payment Systems Gift Card Program
--Innovative technology platform to provide merchants with
popular program-- |
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TORONTO, Oct. 31, 2007 – Secure EFT, a
partnership made up of Secure Payment Systems (SPS) of San
Diego, Calif., and EFT Canada Inc. (TSX-V: EFT), a publicly
traded company based in Toronto, announced that Open Solutions
Canada, the Canadian subsidiary of Open Solutions Inc.®, a
provider of integrated enabling technologies for financial
service providers across the United States, Canada and internationally,
and its independent sales organizations (ISOs) will deliver
Secure EFT’s industry-leading gift card program to their Canadian
merchants. Through this agreement Open Solutions Canada will
use Secure EFT’s innovative technology platform to provide
merchants with a comprehensive, easy-to-use and affordable
gift card program that can help to increase customer visits,
enhance revenue and enable small- and medium-sized merchants
to compete with larger retailers in the very popular gift
card market.
Lin Fellerman, president of SPS stated,
“The SPS gift and loyalty product line works well for EFT
Canada’s prospective clients given it’s a fully secure and
accountable payment solution which is still in its infancy
stage in Canada.” Fellerman added, “SPS’s strategy fits nicely
with EFT Canada’s market presence and proposed product offering.”
Jonathan Pasternak, president of EFT Canada,
said “Our agreement with Open Solutions is another example
of the credibility of our gift and loyalty program and the
tremendous growth this product channel is experiencing. This
is an ideal compliment to our high-growth Canadian and U.S.
electronic transaction processing product offering.”
Mike Kelso, general manager of Open Solutions
Canada's Payment Solutions Group, said, "We are pleased to
add gift cards to the suite of products and services our ISOs
can offer their merchant clients. Consumer and merchant demand
for gift cards is on the rise in Canada and our gift card
program enables small-business owners to enter this market
space at a reasonable cost. Kelso continued, "Open Solutions
Canada is delighted to work with Secure EFT and its industry-leading
partners to deliver this program to the Canadian market." |
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About Secure Payment Systems |
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Founded in 1996 by Linden (Lin) Fellerman,
privately held Secure Payment Systems, Inc. (SPS) is a unique
information services company that specializes in the needs
of small and midsize retailers. In addition to traditional
point-of-sale transaction processing, SPS offers electronic
check conversion, gift and loyalty card processing, a proprietary
ATM debit payroll/international funds transfer card, as well
as an array of ACH electronic debit services including file
transmissions and a sophisticated WEB-based database platform
for merchants to privately perform their own recurring debit
activities. For more information, please visit www.securepaymentsystems.net. |
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About EFT Canada |
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Founded in 2003, EFT Canada Inc. is a financial
processing company that offers a complete solution to the
collection and payment processing needs of small and medium
sized business merchants, banks, credit unions, and other
financial firms in Canada and the United States. The company
develops, maintains and delivers innovative electronic transaction
processing technologies, such as customized electronic payment
and collection processing solutions and gift and loyalty card
services, by drawing on its operational and applications expertise.
For more information, please visit www.eftcanada.com. |
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About Open Solutions Canada |
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Open Solutions Canada designs, builds,
integrates and operates advanced banking and payment technologies
for processing centres, financial institutions, retailers,
independent sales organizations (ISOs) and third-party organizations
worldwide.
Open Solutions Canada’s Payment Solutions Group supports and
markets state-of-the-art, industry-standard payment (credit
card, debit card, chip and Internet) transaction processing
solutions internationally. The Payment Solutions Group operates
the largest white label ATM and POS payment switch in Canada.
In addition, it directly supports more than 30 Canadian financial
institutions through a network providing shared cash transaction
processing, ATM monitoring and 7/24 support. |
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About Open Solutions Inc. |
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Open Solutions Inc. offers a fully featured
strategic information management product platform that integrates
core data processing applications built on a single centralized
Oracle relational database, with Internet banking, cash management,
CRM/business intelligence, financial accounting and management
tools, profitability tools, wealth management, imaging, digital
documents, interactive voice response, network services, HSAs,
payments and loan origination solutions. Open Solutions’ full
suite of products and services allows banks, thrifts, credit
unions and financial services providers in the United States,
Canada and internationally to better compete in today’s aggressive
financial services marketplace, and expand and tap their trusted
financial relationships, client affinity, community presence
and personalized service.
For more information about Open Solutions
or its financial product line, contact Mickey Goldwasser by
email at mgoldwasser@opensolutions.com or by phone at 860.652.3153
or via fax at 860.652.3156. Visit Open Solutions’ Internet
site at www.opensolutions.com.
Open Solutions Inc. is a registered trademark
of Open Solutions Inc. All other company and product names
may be trademarks of their respective owners. Copyright 2009.
Open Solutions Inc. All rights reserved. |
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Editor’s Note: The
correct usage of the company name, Open Solutions Inc., is
either referring to it as Open Solutions Inc. or Open Solutions.
Open Solutions no longer uses the acronym of OSI to refer
to the company. |
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